U.S. colleges and universities accelerated bond borrowing, issuing approximately $29.2 billion in municipal bonds across 237 deals in the first half of 2025, up 31% from the prior year. This is amid a generally sluggish prior period coinciding with elevated Federal Reserve interest rates. Institutions including Ivy League universities have leveraged bond markets to finance construction, equipment acquisition, land purchases, and debt refinancing. The robust borrowing activity reflects colleges' efforts to secure capital amidst economic uncertainty and evolving federal policies impacting higher education financing.