Hard Times for Colleges


Colleges and Universities are facing hard times due to the Covid-19 outbreak. It's not just in loss of ticket sales and advertising for sporting events. Business Analyst J.P. Maloney says, "Many have already lost as much as a hundred million dollars and the losses haven't stopped." To stop some of the bleeding, many are furloughing or laying off staff and faculty. Maloney has hope for the future and says when Americans are let out of their homes -- their checkbooks will be leading the way. "They were originally thinking, How can we survive this Spring semester?' But certainly are now saying that they are extremely concerned about what will be the 2021 school year."

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Colleges across the country are trying to figure out how they will go on while losing money every day. Students who are without revenue due to the outbreak may not return and others who have paid for housing and meal plans in advance are demanding refunds.

In the meantime, universities are canceling construction and issuing hiring freezes. Maloney: "I do believe that when people are allowed out of their houses. The people of America will have their check books in thei hands and there will be a lot of pent up demand and they will be ready to spend money."

Photo: Getty

College sports not happening

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