The Massachusetts Institute of Technology cinched a revolving credit agreement that will allow it to borrow as much as $500 million at a time.
The Cambridge-based school entered into the agreement on June 20 that matures in one year, according to a regulatory filing. The name of the lender was redacted.
A spokesperson for MIT did not respond to a request for comment.
MIT also extended a $500 million line of credit with another unnamed lender to June 20, 2028, according to a separate filing. That agreement was set to expire March 31, 2026, according to MIT financial documents. MIT hadn’t drawn on the line of credit, which can be used for unanticipated liquidity needs, as of its fiscal 2024 financial report.
MIT is contending with a variety of federal pressures. The US House’s tax bill would significantly increase taxes on the wealthiest college endowments. MIT has also warned that research cuts sought by the National Institutes of Health under the Trump administration would “undercut our ability to run a top-tier scientific enterprise.”
Other schools in the crosshairs of the Trump administration are taking similar measures. A number of prestigious universities have sold taxable bonds this year. The trustees of the University of Pennsylvania earlier this month secured lines of credit totaling $500 million.
