Universities hard hit by pandemic will struggle even as virus dissipates

Even if the virus itself is gone, there’s no guarantee the next school year will be out of its area of effect—an impact that’s already cut deep into the pockets of the education industry.

Some collegiate institutions have lost as much as $170 dollars as a result of the virus. Others have it much worse.

There are some schools that are closing permanently, or will not be accepting any new students, such as the San Francisco Art Institute and MacMurray College, in Illinois. Small liberal arts colleges, that do not have large endowments, come with high tuition price tags, and rely on tuition and donations, may be hardest hit.

As far as the logistics of reopening classrooms is concerned, the nation’s current leadership seems optimistic about the country’s ability to regain its footing before the school year pick back up in August and September.

Last week, the White House released a three-phase plan to re-open the economy, an indicator that the beginning to a recovery could be in the near future. Already some state leaders, like the governor of Georgia, have made plans to start reopening as early as this Friday.

Experts leading the response against the virus also appear optimistic. When asked about the possibility that schools might remain closed next year, Dr. Anthony Fauci, director of the Institute of Allergy and Infectious Diseases, didn’t seem concerned.

“I fully expect that by the fall, we will have things in control enough that it certainly won’t be the way it is now,” Fauci told reporters this past week.

But just because schools open doesn’t mean there will be students to fill them.

Bill Gates, who has stayed closed to the economic fight against the virus, says he expects schools to open in the fall, even in the midst of a suffering economy. But according to CNBC, he is concerned admissions numbers will suffer.

“I do think school will be able to resume in the fall,” Gates said. “But I don’t think this school year there’s going to be any significant attendance.”

With that potentiality comes the possibility of vacant classrooms, dormitories, and stadiums. It could mean continued struggles for administrations looking to keep their schools funded and the possibility of financial instability. COVID-19’s spread has already brought unprecedented disaster to some of the nation’s largest undergraduate programs.

The University of Kentucky, for instance, is looking at a loss of $70 million. The University of Michigan is facing down damages of about $1 billion dollars.

Losses look different from school to school, depending on their source. The majority of schools that forced students to return home had no choice but to shell out refunds on things like housing, dining hall plans, and parking. On the other hand, schools with larger athletic programs, like those participating in March Madness and college football conferences, also faced steep losses. The National Collegiate Athletic Association has lost a reported $375 million loss from closures.

Smaller schools with already relatively-small student bodies, such as Skidmore, which hosts the New York State Writers Institute, depend on many campus activities to make revenue. Now with many summer options threatened, the absence of those programs are steadily becoming a proportionately noteworthy loss.

As a part of its $2 trillion stimulus package the United States Government designated $14 billion dollars to help universities and colleges stay afloat. But as damages become more and more apparent, those numbers don’t look like they will be enough.

Ted Michell, the president of the American Council of Education, believes that without further government help, many educational institutions face a daunting fiscal year.

“Campuses are losing staggering sums. If these needs are not met, students are going to suffer financially and may drop out,” Michell told The New York Times.