Moody’s downgraded Columbia University’s financial outlook from stable to negative, citing looming caps on student lending, uncertainty in federal research funding, and a shrinking pool of international students. The credit agency said the university could return to a stable outlook if it demonstrates resilience to expense growth and graduate program risk. The same week’s roundup also flagged system-wide cyber and budget pressures—reinforcing that universities are managing concurrent headwinds across student finance, revenue diversification, and operational risk.