Moody’s issued a negative outlook for higher education in 2026, citing enrollment pressures, rising expenses and political headwinds including federal policy changes and reduced access to graduate lending. The ratings agency warned institutions with large master’s offerings are especially vulnerable to borrowing caps. At the same time, UVA Darden reported MBA job-offer rates slipped to a 10‑year low, signaling softer post-graduate hiring and a challenging market for career offices and placement metrics. Together the reports signal tighter margins and heightened risk for cash‑flow dependent programs and career-dependent recruiting outcomes.