Education Funding News in Brief

Chicago District’s Debt Downgraded to Junk Status

By Denisa R. Superville — May 19, 2015 1 min read
  • Save to favorites
  • Print

The Chicago school district’s debt was downgraded to junk status last week by Moody’s Investors Services, one day after the ratings agency did the same for the city’s bond rating.

The downgrade means the district may face higher borrowing costs.

Moody’s action is the latest fallout for the city and the district after the Illinois Supreme Court struck down changes in state law that had sought to reduce benefits under the pension system for public employees.

Related Tags:

A version of this article appeared in the May 20, 2015 edition of Education Week as Chicago District’s Debt Downgraded to Junk Status

Events

Mathematics K-12 Essentials Forum Helping Students Succeed in Math
Student Well-Being Live Online Discussion A Seat at the Table: The Power of Emotion Regulation to Drive K-12 Academic Performance and Wellbeing
Wish you could handle emotions better? Learn practical strategies with researcher Marc Brackett and host Peter DeWitt.

EdWeek Top School Jobs

Teacher Jobs
Search over ten thousand teaching jobs nationwide — elementary, middle, high school and more.
View Jobs
Principal Jobs
Find hundreds of jobs for principals, assistant principals, and other school leadership roles.
View Jobs
Administrator Jobs
Over a thousand district-level jobs: superintendents, directors, more.
View Jobs
Support Staff Jobs
Search thousands of jobs, from paraprofessionals to counselors and more.
View Jobs

Read Next

Education Funding Interactive See How Much School Funding Trump Is Holding Back From Your State
The administration is holding back nearly $7 billion for English learners, after-school programs, professional development, and more.
1 min read
Image of money symbol made of sand filtering slowly through an hour glass.
DigitalVision Vectors
Education Funding Trump Tells States He's Holding Back $6.8 Billion for Schools
Schools nationwide won't see funding earmarked for English learners, migrant students, professional development, and more.
4 min read
063025 Trump AP BS
President Donald Trump walks to an event in the East Room of the White House on June 26, 2025. On June 30, his administration informed state education departments it won't send out nearly $6.8 billion in education funding on July 1 as required by law.
Mark Shiefelbein/AP
Education Funding Education Department Restores COVID Funds For Schools—With Some Caveats
All state education agencies and school districts now have until March 2026 to finish spending COVID aid.
4 min read
Image of funding stream faucets and a hand controlling the flow.
iStock/Getty
Education Funding Trump May Soon Defy Congress and Cut $5 Billion More From Schools
Funding for migrant education, English-learner services, professional development, and after-school programming is at risk.
10 min read
Image of a slow-drip funding stream coming from a faucet.
gheatza/iStock/Getty