Orbuculumbeta

DSO Debt Sources

Data gathered April 26, 2026

Off-balance-sheet long-term debt held by entities affiliated with U.S. public higher education institutions — Direct Support Organizations, university foundations, athletic associations, real estate corporations, hospital operating companies, and state/system bond authorities. This debt does NOT appear on the institution’s IPEDS Finance F1A reporting and is invisible to any model relying on IPEDS alone. These figures are gathered by an LLM-enrichment pass (Claude Sonnet 4.6 with web_search) once per IPEDS release; every dollar amount is required to come with a primary-source citation URL. Confidence tiers: high (audited statements / EMMA / state bond authority), medium (secondary citations), low (no usable citation found).

Public institutions
559
Entities cited
1,288
Aggregate debt
$167.40B