For College Finances, There’s No ‘Return to Normal’ — from chronicle.com by Mark S. LeClair
The critical problems facing higher education won’t end with the pandemic.
Excerpt:
Higher ed is in trouble. It faces a demographic crunch in 2026, when smaller high-school graduating classes will mean greater competition for students. That will lead to tuition discounting and underenrolled classes for many colleges. And yet that demographic crisis is only one of many significant challenges the sector faces. As noted by Forbes in its annual review of college and university financials, approximately 20 percent of all institutions now warrant a “D” ranking (its lowest). Many are under serious financial strain and may not survive.
The Forbes financial analyses have been warning of a worsening situation for years. The added stresses from the Covid-19 pandemic will further aggravate the untenable circumstances facing hundreds of institutions. There is now a very short window within which we must carry out significant reforms.