Colleges and Universities are in a financial crisis and it could get worse. It's not just because of Covid-19. Dr. James Hurley, the CEO of Tarleton State University, says enrollment has been down nation wide for years. "When unemployment is really low, and the economy is doing very well, typically college and university enrollments will be down because students have options. They don't feel like they need a degree to land a job."
Many states are losing state funding, but Hurley has some good news, "Fortunately for us in Texas, our Legislative Body each year sees value in funding Texas higher education, so we have seen less of a decrease in recent years.That funding accounts for about a quarter of all our donated funds." He has his concerns, though. "What I'm concerned about over the next few years is philanthropic giving. There are so many different organizations and entities now vying for that same donor!"
Texas Colleges and Universities Could Wait Until 2021 to Reopen Campuses
And, then. of course there's the Covid-19 crisis as well. Dr. Hurley says like most other businesses, colleges and universities will forever be changed and except for names etched on campus buildings, operational policies will never be chiseled in stone again!
photo: getty