Financial hits pile up for colleges as some fight to survive

Financial hits pile up for colleges as some fight to survive
Students listen to a lecture in a university classroom. (Source: Pixabay)

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 a series of financial losses.

Scores of colleges say they’re taking heavy hits as they refund money to students for housing, dining and parking that went unused after campuses closed last month. Yet college leaders say that’s only the start of their troubles: Even if campuses are allowed to reopen by this fall, they worry that many students won’t return.

Officials believe the economic downturn will leave many Americans unable to afford tuition, and colleges are forecasting heavy losses among international students.

Copyright 2020 Associated Press. All rights reserved.