Patricia Nehme • My edu advisor
*Bloomberg Businessweek’s article ‘Colleges with empty campuses face uncertain future’ - Moody’s Investors Service last month downgraded the credit outlook for the higher education sector to negative.
*Pass - Fail could hurt college students trying to transfer or when applying to Grad or Professional Schools - The Hechinger Report offers some insight
After several days of web conferences with higher education, I believe it necessary to highlight some of the growing areas of concern resulting from Covid-19:
Many colleges have been substantially impacted financially by Covid-19. This may be especially true for smaller regional public institutions and lesser known private colleges. If your child is planning on attending one of these types of schools, you need to ask how the 2020-2021 operating budget could be impacted, and if your child’s scholarship might result in some type of adjustment from year to year (however, if you are in the process of appealing for financial aid, do not ask these types of questions until you have the final financial aid decision).
All colleges have lost substantial revenues this current semester, and will most likely continue to do so during the summer (they are trying to determine if programing, available courses and faculty/staff, and resources need to be reduced for school year 2020-2021).
For students enrolling in comprehensive learning support programs, it is essential to ascertain if the program will continue at the same level of programming and professionalism for 2020-2021.
Fall Semester classes may be impacted too (we just do not know) – you may want to ask if deposits are refundable if the college is not able to provide in-person, on-campus instruction and residential life (and if tuition and fees might be modified if students end up with distance learning).
Finally, many families have been impacted financially, and many have lost employment. It is NOT too late to appeal a financial aid decision or file for financial aid – contact the college’s financial aid office for guidance (I’m happy to talk you through this process before you connect with the college).
Every week seems to offer us some new aspect from the fallout of Covid-19. These perspectives may look different by the end of April, and again by the end of June, and even August. But I do want you to be aware of the possible implications for school year 2020-2021 sooner rather than later.
Your children are resilient like their parents. With every change, comes an opportunity. I am anticipating that colleges will rise to this moment, and be more innovative and adjust accordingly. I am confident that our youth will emerge as even stronger, more creative, better problem solvers.
Today’s AP Article highlights these growing concerns - Financial Hits pile up for Colleges as some fight to survive
