Colleges Are Likely To Get Billions In Coronavirus Aid, But Advocates Say It’s Not Enough
Colleges and universities are expected to receive billions of dollars from the coronavirus relief bill moving through Congress. But a top higher education advocate in Washington called funding levels “woefully inadequate” to stabilize a sector of the economy that is hemorrhaging cash.
With campuses across the country shuttered for the foreseeable future, many schools are issuing refunds for room and board, subsidizing plane and bus fare for students forced to leave in a hurry and absorbing myriad other unforeseen expenses and revenue losses.
Beyond those immediate troubles lies a grim fiscal landscape. Even if campuses somehow reopen soon, fall enrollment and revenue are almost impossible to project in a world rife with public health and economic uncertainties. Endowments shrink with every blow to global markets. State budgets are vulnerable.