Declining enrollment, excess expenses and low tuition rates contributed to Marshall’s drop from an A1 to A2 ranking in a new report by Moody’s Investors Service said University President Brad Smith in a communications announcement on Tuesday, Jan. 10. 

Moody’s ranking represents the creditworthiness of businesses to potential creditors. Due to a continuous decline in enrollment over the past 12 years, the university has seen its trustworthiness lowered by the investment service.

While many colleges and universities have been affected by declining enrollment, especially since COVID-19, Moody’s report concluded that Marshall must both stabilize and increase enrollment as well as brand recognition, operate on a more efficient budget, and possibly raise tuition to retain its current ranking.

“This is not merely a turnaround. We must undergo a transformation,” Smith said in the announcement. “We are in the process of finalizing this draft strategic plan and, in the next month or so, will be circulating the document to the broader campus community for understanding, questions and final input.”

Smith did ensure that the university’s commitment to affordability and the “Marshall for All” debt-free initiative will continue to be a priority.