Moody’s Investors Service reaffirmed New Jersey Institute of Technology‘s financial outlook as “A1 stable,” reflecting NJIT’s “very good brand and strategic positioning,” according to a Monday announcement.
Favorable student demand, growing wealth and diverse mix of revenue sources as support for the institution’s credit quality were cited by Moody’s as reasons of the university’s overall health — as was the institution’s consistent growth of enrollment. The agency also noted a forecasted improvement in operational performance as NJIT adjusts its fiscal approach.
NJIT President Teik Lim said of Moody’s positive affirmation: “Moody’s analysis reflects the upward trajectory of NJIT. We are attracting more students than ever; the impact and success of our graduates is tangible; our research footprint continues to grow; and NJIT is consistently ranked as one of the best institutions in the nation.”
NJIT has seen total enrollment climb 21% in the past 10 years, to an all-time high of 12,000. The university diversified its curriculum with new programs in data science, financial technology, forensic science, cyberpsychology and engineering technology.
Just last year, the Carnegie Classification reaffirmed NJIT’s R1 research status — the highest designation — and Moody’s recognized the $11 million annual growth in academic research awards over the past three years as another sign of fiscal health for the university.
“NJIT’s brand and strategic positioning will remain strong, supported by favorable demand for its undergraduate and graduate technology and engineering programs,” the Moody’s report said.
“Its in-demand programs and track record of serving a diverse student population will provide for continued brand strength even as weak regional demographics make the student market more competitive … The university stands to benefit as international demand recovers following the easing of global travel restrictions related to the COVID-19 pandemic,” Moody’s said.
U.S. News & World Report, Money, Forbes and the Princeton Review have all recently recognized NJIT as a top national university. Standard and Poor’s recently gave NJIT an A credit rating with “stable” outlook, as well.