One of the prestigeous Ivy League colleges in the United States (US), Cornell University is considering starting a fundraising round for almost USD 1 billion in taxable bonds, becoming the latest elite college seeking financing as the Trump administration pursues institutions.

 According to a filing posted on the Municipal Securities Rulemaking Board's website, the Ivy League university aims to price the bonds as early as November 17, and intends to use the proceeds for general corporate purposes. It has appointed Goldman Sachs Group Inc. as the exclusive bookrunner on the transaction.

Data gathered by Bloomberg suggests that top-tier schools have recently sold taxable bonds and borrowed money to protect their finances as the Trump administration targets their budgets.

Cornell expanded its taxable commercial paper program earlier this year, providing another avenue for institutions to save money and fund campus projects.

The notification did not address the uncertainty surrounding government funding, but Cornell's leadership stated in late August that the university needed to decrease spending and restructure due to a variety of factors, including the Trump administration's attack on research funding. 

Cornell has an ‘Aa1 rating’ from Moody's Ratings, and an ‘AA rating’ from S&P Global Ratings, indicating a lower credit risk, and a strong commitment to meet its financial obligations. 

The school previously issued USD 500 million in taxable bonds in 2024. Unlike tax-exempt bonds, the sale of taxable debt allows institutions to use the profits for a wider range of purposes.