Report: Colleges will face revenue loss and lower student enrollment in the coming year

, Spencer Irvine, Leave a comment

A report from S&P Global Ratings predicted that U.S. colleges and universities will struggle in the coming academic year due to the fallout from the coronavirus pandemic. The report predicted falling student enrollments, which is an increasingly-worrisome trend for both small and large institutions as students and parents worry about a potential pandemic resurgence in the fall.

The report also noted that net tuition will probably decline due to the lower number of student enrollments. It added that the pandemic-induced recession “will likely contribute additional budgetary stress, including reduced state funding for public institutions and lower fundraising for most colleges and universities.”

Despite falling student enrollment, many institutions refuse to offer tuition cuts or discounts for its students. Harvard University, for example, will offer online instruction and it will not discount its pricey, private tuition of over $50,000 per academic year.