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 ...
All those institutions of “higher learning” should hire Bernie Sander’s wife as a consultant.
That’ll fix em up right as rain.
I guess the poor Gibson Bakery will never be paid by Oberlin University.
These colleges could easily survive after the fire 2/3 of their administrators.
I’ve heard the ratio of administrators to students has increased fourfold since the 60s in California. Think “chief diversity officer.” And bidding on professors who may teach one class (Elizabeth Warren) like they are NBA stars doesn’t help either.
A gibbering Indian commie in India can remotely teach little aspiring commies to regurgitate leftist claptrap at 10% of the cost of an “American” (quotes absolutely mandatory here) professor. Offshore the leftist arts departments and save a bundle. As for those snowflake leftist profs here... There is always Walmart or McDonalds, if they can even figure out how to do that.
This was just the final blow, male shaming, Political correctness, false rape culture and safe spaces. Played a big part.these small towns and medical facilities in the towns will be lost.
You mean what happens to the student athletes that can't spell their names, names that normal people can't pronounce? (g)
Hope they all end up in the toilet, this rat scam has gone on for to long putting families and students in debt. On line degrees I hope are the future
It is time to rethink education. Especially, it is time to rethink the way universities are run. By that I mean it’s time to get the government our of education and to stop student loans for “studies” degrees. (Among other things.)
You mean there is not a marketplace demand for Interpretive French Ballet Study Majors? You are right, if a field of studies ends in “Studies” gone. Oh those professors who told their students that the world needed their love of the impressionist ballet, well time for you to hit the road and really see what the market holds for you.
Maybe Oberlin university will be Gibson University where only real world skills are taught.
Yup! Only save the Christian universities!!
They could save a lot of money by closing down their “diversity”
programs.
Oh well.
Endowments are a wonderful thing. My university just celebrated its 200th year with a huge push to increase the endowment—successfully.
That is how you stay in business.
These communist propaganda mills, have to say I wouldn’t be sad at all about many of them. Students really interested in learning can learn most anything they want to online these days for a fraction of the cost, without wasting tons of time and having their brains turned into SJW mush.
The only thing that need a classroom are lab based classes, medical, biology, chemistry, engineering.
Federal government should cut them off now.
Yup.. all those exorbitant fees are in the pockets of crooks.
And guv will spend TRILLIONS bailing everyone and everything out.
Ditto That!!
The strong survive...
I know a guy who owns hundreds of apartments with college renters. He is going to have a very difficult time collecting rent owed to him. The students are mostly gone and will refuse to pay.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.