Posted on 04/07/2020 9:29:48 AM PDT by Olog-hai
Colleges across the nation are scrambling to close deep budget holes and some have been pushed to the brink of collapse after the coronavirus outbreak triggered financial losses that could total more than $100 million at some institutions.
Scores of colleges say they’re taking heavy hits as they refund money to students for housing, dining and parking after campuses closed last month. Many schools are losing millions more in ticket sales after athletic seasons were cut short, and some say huge shares of their reserves have been wiped out amid wild swings in the stock market.
Yet college leaders say that’s only the start of their troubles: Even if campuses reopen this fall, many worry large numbers of students won’t return. There’s widespread fear that an economic downturn will leave many Americans unable to afford tuition, and universities are forecasting steep drop-offs among international students who may think twice about studying abroad so soon after a pandemic. […]
Dozens of colleges have instituted hiring freezes, and many are halting construction projects so they have enough money to pay employees. But university presidents say the savings will only stretch so far, and many are asking the federal government for a second stimulus package to avoid deeper cuts. …
(Excerpt) Read more at apnews.com ...
Sell off assets.
Tap the billions of endowments cash.
Don’t kid yourself. The reaction to this virus farce is most definitely the Black Swan many have been warning against for over a decade.
This is gonna leave a mark.
Learn to code
The government should not send them money.
Let them die.
Die, bloated liberal institutions.
Die.
Pray that they all collapse.
Sounds good to me. They’re nothing but Communist re-education camps anyways. Let them all collapse.
The college bubble was already beginning to burst. This will simply hasten it.
Every cloud has a silver lining. Many colleges need to close and many academics need to go into the real world.
NO money, close them down, use them as hospital rooms for the next pandemic.
Sell off assets.
Tap the billions of endowments cash.
So far zero returns for 2 grand kids who have been at home for weeks. One was a Cal State student, and the other a big back east school.
I’ve seen it asserted that half the small liberal arts colleges will go out of business in the next ten years. This event may speed some of that up.
Universities can’t typically do anything they want with endowments. If colleges and programs fold, I wouldn’t be surprised if many endowments revert the donor or his estate.
Hit ‘em.
Hit ‘em hard.
If they get up, hit ‘em again.
With all that money that they rip off in exorbitant tuitions they should be swimming in dollars. Then again Ivory Tower Lieberals running these places pay themselves a kings fortune.
Maybe they should think about pruning away “majors” that sound like “_________ Studies” and concentrate on legitimate fields of study.
Except for labs and classes needing specialized equipment, many undergrad courses can be taught on-line. Cheaper and more efficient. Welcome to the real world.
[[[Sounds good to me. They’re nothing but Communist re-education camps anyways. Let them all collapse.]]]
Let the communist professors live in the real world. The one of reality
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