Posted on 09/20/2020 4:27:59 PM PDT by CheshireTheCat
As bad as the COVID-19 lockdown has been in any number of sectors of the US economy, colleges and universities have been hit particularly hard. Restaurants and movie theaters have physical plants that continue to cost them money regardless of whether they are serving food or showing movies. Hotels have it even worse, because they are far more expensive to maintain. But colleges and universities have it worse still. Their physical plants include not only housing and dining facilities, but also recreation areas, classrooms, and expansive grounds. In addition, colleges and universities have staff that often number hundreds of times that of hotels.
Unlike restaurants, movie theaters, and hotels, colleges and universities do have the ability to offer their product remotely. Students with their faces planted firmly into Zoom calls have become the new normal pretty quickly. But when a quarter to almost half of a university’s income comes from room and board, it becomes pretty clear pretty quickly that those Zoom classes are gutting college and university revenue streams.
Making matters worse, foreign students are staying home in droves because of both the virus and US policy. This might not sound like much, but universities obtain more than twice the revenue from the typical foreign student than from the typical American student. Foreign students have been subsidizing American students for years. And now they aren’t.
The upshot of all of this, according to NYU marketing professor Scott Galloway, is rather disconcerting. In examining some 442 US universities, Galloway estimates that more than 20 percent could fail because of the lockdowns, and that another 30 percent will struggle to remain open. That’s 50 percent of US colleges and universities at very serious (or mortal) risk...
(Excerpt) Read more at theohiostar.com ...
20% is a good start.
But the moon will crash into the earth.
Great!!!
A lot more than 20%.
Soros is buying them up as Soros gate centers
all of mit’s classes are on line for free
Many such universities deserve to go away — but it will also accentuate a trend we see elsewhere all over American society
Government and their controlled institutions (in this case universities) will never fail or disappear. The richest private schools, entrenched among America’s elite, will also survive.
We are heading to a society dominated by leftist government, our elites, with independent, civil society shrinking day after day.
...and the problem is?
Dear God i hope its a lot more than only 20 percent.
There must have an errant character in that article that caused the formatting problem.
chicomcovid19
Not to worry. The CCP owns them anyway. They’ll get a CCP bailout.
Thanks for posting this reality!
Good!
So, if I am taking a video class anyway, why would I want Professor Smith from Podunk State University when I could get the same class from the best lecturer in the country. Probably at a lower cost for the students.
Your last paragraph will be the reality. If you, your kids or our grandkids have to do remote classes, why do it with someone who can barely speak English, when as you point out, the best lecturer in the country is available. Again at a lower cost to the student.
Cal State universities classes are now by remote only with no reduction in costs.
Parents and students will be saying $crew having some local yokel or someone whose English is their second or third language.
Another silver lining to the lockdowns.
20% is a nice start. As witnessed with the riots, the university is the source of trouble.
“We are heading to a society dominated by leftist government, our elites, with independent, civil society shrinking day after day.”
That has been going on for over 5 decades. Now, a few Americans are waking up to your reality above.
WINNING!!!!
Parents and students will demanding tuition discounts soon.
************
I don’t know about that. Parents seem to be more concerned with buying prestige for their children (at any cost) at so-called elite schools rather than educating them at a fair and reasonable price.
A lot of it has to do with bragging rights and they’re willing to pay up for it.
Don’t even bother asking me if I care about the demise of s*** businesses and s*** institutions. Bye.
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