Financial hits pile up for colleges as
some fight to survive
Associated Press,
by
Collin Binkley
&
Jeff Amy
Original Article
Posted By: IowaDad,
4/7/2020 9:32:01 AM
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. (snip) Even if campuses reopen this fall, many worry large numbers of students won’t return.
Source repaired by staff
Reply 1 - Posted by:
hershey 4/7/2020 9:35:54 AM (No. 371366)
No big deal to me...especially since they pay 100's of thousands of dollars to have lie-bral speakers come and insert crap into our kids heads...
30 people like this.
Reply 2 - Posted by:
Periwinkel 4/7/2020 9:36:45 AM (No. 371368)
I can't say I am particularly alarmed at this news. It's long past time for colleges to stop over-charging for their meagre services. Not many graduates are prepared for the outside world—can't write a complete, coherent sentence—and have mortgaged the rest of their lives to student loan debt. What is good about any of this?
35 people like this.
Reply 3 - Posted by:
chance_232 4/7/2020 9:37:37 AM (No. 371371)
No stimulus for theses colleges! The fact is that many, if not most colleges are sitting on huge endowments. Harvard, for example, could provide free education for the next 100 years with its endowment.
Those fund raising calls to alumni isnt for the students, its for increasing endowments and pet projects.
31 people like this.
Wow, higher education is singing the blues. I suppose they might have to drop some of their grievance based studies.
29 people like this.
Maybe the colleges could practice socialism. Institutions that have many millions and even billions in assets and cash reserves could GIVE to the smaller struggling colleges. They all have a grand opportunity to show how socialism works.
You know !!! To each based on their need from those according to their ability to pay ... or some such garbage !!
36 people like this.
Reply 6 - Posted by:
tangles 4/7/2020 9:43:37 AM (No. 371380)
Tell it to China cuz we ain't listening.
13 people like this.
Reply 7 - Posted by:
GO3 4/7/2020 9:51:33 AM (No. 371394)
If we want to reform secondary and primary education, culling the useless universities/programs is a way to start. Schools have lost sight of their purpose and basically look at themselves as feeder schools to the university system. Everybody going to college is ridiculous and the educrats know it, they just can't jump off the gravy train.
18 people like this.
Reply 8 - Posted by:
worried 4/7/2020 9:53:03 AM (No. 371397)
Just quit paying fake American Indians $300,000 to teach one course. And any other overpaid "professor". Lots of money to be saved there.
22 people like this.
Reply 9 - Posted by:
Strike3 4/7/2020 10:08:41 AM (No. 371408)
Where is the bad news? Fewer college students means fewer feminists, racists, liberals, democrats, snowflakes, communists, socialists, green weenies and brain damaged children on the streets. Also fewer overpaid professors who would have to get real jobs. If we stripped down college curriculum to essential classes that actually contributed to careers and good citizens, degrees could be earned in 1-2 years.
20 people like this.
Reply 10 - Posted by:
john56 4/7/2020 10:12:23 AM (No. 371412)
In some ways, this is good news for us. I got a kid going to college next fall and in some ways, it's a buyers market. Spoke with a friend in the college admissions racket and they said the number of kids that are looking to delay their entrance into college by a year are about 4 times higher than normal. Why pay $30G or more to stay home and take online classes when you can do it for $5 large at home.
I heard a college consultant say that 10-20% of colleges could be out-of-business in two to five years over this.
But it's amazing to see what a used-car salesman job college admissions has become in the past few years.
17 people like this.
Reply 11 - Posted by:
cor-vet 4/7/2020 10:14:08 AM (No. 371414)
$200,000 for a gender studies diploma, to go out into a world that they believe has no specific genders, to flip burgers, is ludicrous. The country has more than enough SJW snowflakes to take care of. It needs producers that don't believe they are victims that have to be coddled from cradle to grave. The smarts exhibited by grads like AOC shows that some degrees are worthless.
14 people like this.
Reply 12 - Posted by:
panther361 4/7/2020 10:17:59 AM (No. 371417)
If you must contribute to higher learning, consider Hillsdale College which actually teaches the fundamentals of conservative principals and US government as founded.
19 people like this.
Reply 13 - Posted by:
Trump'sCousin 4/7/2020 10:20:18 AM (No. 371421)
Cry me a river.
We need to get rid of the department of education and trim back colleges and universities.
I've been saying it for years, brick and mortar schools need to go the way of the dinosaurs. It's the 21st century. They always want the hottest, newest technology, well careful what you wish for because on line learning arrived with a bang last month. For some professions and for all trades there have to be labs and hands on training but 80% of it can and should be on line. Side benefits? Smarter graduates, better reasoning skills, more freedom of creativity and thought, limited indoctrination opportunities for the left, LOADS LESS COLLEGE DEBT, and better for the environment with less traffic and pollution. Students do not need 6-8 hours of class time a day. That can easily be cut in half, this means they can get jobs and pay for their online classes that are reasonably priced. The free market at its finest!
The education system could do with a good scrubbing and cleaning out. I'm not the only one who thinks this I'm sure. Students are not going to want to go back to the schedule and confines of a classroom after this. College experience - BAH!
It's a win, win all around with something for everyone even the enviro-nutz!
11 people like this.
Reply 14 - Posted by:
udanja99 4/7/2020 10:26:14 AM (No. 371429)
Another silver lining! More winning!
13 people like this.
Reply 15 - Posted by:
bassman 4/7/2020 10:32:07 AM (No. 371439)
OAC should be the poster child on why colleges should fail.
12 people like this.
Reply 16 - Posted by:
WhamDBambam 4/7/2020 10:33:36 AM (No. 371441)
How will they pay for all of their diversity bureaucrats?
10 people like this.
Reply 17 - Posted by:
andyboy 4/7/2020 10:58:53 AM (No. 371478)
Does this mean there will be fewer virus-spreading college kids partying in Florida for spring break next year?
8 people like this.
Reply 18 - Posted by:
DaddyO 4/7/2020 11:03:07 AM (No. 371485)
Maybe Harvard should stop paying people like Elizabeth Warren $400,000 to teach a couple classes.
8 people like this.
Reply 19 - Posted by:
unagator 4/7/2020 11:15:27 AM (No. 371505)
There are a lot of educrats out there serenely urging shut down extensions who are going to soon be learning that "non-essential" isn't just for the little people.
Does any college really need a Diversity & Inclusion Office?
9 people like this.
Reply 20 - Posted by:
DVC 4/7/2020 11:19:56 AM (No. 371519)
Maybe they'll have to close down the Women's Studies Department, and the Transgender Studies Department, and the Marxist Economics Department, and the Why Trump is a Horrible Person Department, etc.
9 people like this.
Reply 21 - Posted by:
volksford 4/7/2020 11:26:20 AM (No. 371531)
Lets hope dear old Oberlin makes the list.
13 people like this.
Reply 22 - Posted by:
RuckusTom 4/7/2020 11:28:22 AM (No. 371535)
Let's see. The government gives loans to anybody to buy homes ... the housing market crashes. The government gives loans to anybody to go to college ... the college market crashes.
See a pattern?
9 people like this.
Reply 23 - Posted by:
doctorfixit 4/7/2020 11:42:51 AM (No. 371554)
A lot of colleges need to go under. Online college needs to replace most college courses. Online offers a better chance to avoid communist professors and grad student assistants. Taxpayer money needs to be removed from the equation. Privatize.
6 people like this.
Reply 24 - Posted by:
AltaD 4/7/2020 12:03:50 PM (No. 371580)
There should be a means test for any Federal aid to universities. If the institution has any money in their endowment fund, no Federal funds.
2 people like this.
Reply 25 - Posted by:
oldmagnolia 4/7/2020 12:15:26 PM (No. 371596)
No crying over it here. The colleges are overpriced and overstaffed. Get rid of tenure, get rid of ______ studies program and start teaching.
3 people like this.
Reply 26 - Posted by:
iraengneer 4/7/2020 12:51:17 PM (No. 371631)
The unwelcome truth is that MOST people do not belong in a college. Trade school, business classes, ok. Not college. It used to be recognized that, perhaps, 10 per cent of high schoolers should be headed to university, 15 per cent an absolute maximum. Which is still true. When I first went off to university, they stuck all us incoming freshman into the basketball arena. Told us to look left, look right. And told us that before the year was more than half over, 2 of the 3 would be gone. He was right.
A couple of factors led to today's mess. Back When, lots were doing it to get a draft exemption. No longer a factor, but the capacity the institutions created HAD to be used, right? And, "courtesy" of brainless HR types, OEO and EEOC and other nincompoop notions, many jobs now "require" college degree to get job counting cuzz on a caterpillar. I've seen it.
Add in all the goobermint mandated Title IX and other garbage, and they had to add staff and buildings. And cost. Now add all the idiotic programs, with all of that. Local state university has a degree program in "hospitality studies", for example. Even sillier than the "general studies" or Underwater Basket Weaving that used to be the province of illiterate football players. Or the "gender studies" or "wymyn's studies" or "urban planning".
Let these operations collapse!
9 people like this.
Reply 27 - Posted by:
confused 4/7/2020 1:26:08 PM (No. 371673)
Seriously, who is rooting for Oberlin to go up in flames? If you can't stand the heat, stay away from the Bakery.
5 people like this.
Reply 28 - Posted by:
Golden Goose 4/7/2020 1:50:38 PM (No. 371700)
What about tenure?
/s
1 person likes this.
Reply 29 - Posted by:
anniebc 4/7/2020 2:32:13 PM (No. 371750)
Why aren't they doing online instruction? They must want to fail. Either that or they just want bailouts.
1 person likes this.
Reply 30 - Posted by:
MickTurn 4/7/2020 2:35:56 PM (No. 371757)
Oh, Darn, the Commie Parade is turning down a back alley...
1 person likes this.
Reply 31 - Posted by:
Rumblehog 4/7/2020 3:58:08 PM (No. 371831)
We have waaaay too many places of "higher learning" in the U.S. Many are a joke at best and a fraud at worst. Too many young people are being suckered into massive debt payments for a diploma mill degree that isn't even recognized at a major institutions. We need to get back to glorifying trades more than degrees that only qualify the debtor to filling the shelves at the local grocery store.
1 person likes this.
Reply 32 - Posted by:
PChristopher 4/8/2020 1:59:30 AM (No. 372261)
No! Let them dip into their endowments like the rest of us have to go into what savings we have or get the shortfall from their mega-rich progressive donors! Not one dime for these Communist Indoctrination Centers!
1 person likes this.
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Let 'em fail! The purpose of education is to increase the likelihood that students will live happy, productive and useful lives, by being good employers, employees, and creating great families and communities. Teaching kids to be entitled victims with precious pronouns does the exact opposite, and should not be supported by public money.