Why Wall Street Is Skeptical About a N.J College's Finances

As enrollment declined more than 20 percent at Drew University over the past five years, the groundwork was set for budget cuts that might have bolstered the private college's finances.  Yet instead of pulling the trigger on cuts, the university decided to spend more by investing in an aggressive marketing campaign. It also outlined plans to build a new dining hall.  Drew may have been better served to make the budget cuts, according to a Wall Street credit rating agency.