Per the U.S. Bureau of Labor Statistics (BLS), the country’s unemployment rate hit a record peak of 14.7% in April 2020, with colleges laying off at least 10% of their employees, due to the COVID-19 recession. According to the Chronicle of Higher Education, more than 50,900 employees from 218 universities and colleges across the country […]
Jan 21, 2021
Jan 07, 2021
Back in March 2020, more than 300 colleges and universities in North America decided to shift their learning activities online due to the COVID-19 pandemic, as reported by the Cable News Network (CNN). However, this shift has done little to prevent institutional revenue decline across the board. Consequently, many higher education institutions in North America […]
Dec 23, 2020
The pandemic induced lockdown, which caused colleges to turn virtual, had led to rising concerns among the authorities regarding enrollments. However, despite the shift to virtual classes, more than half of California State University campuses saw enrollment increases in the fall of 2020. Here’s a more in-depth look at how the pandemic has affected the […]
Dec 16, 2020
The pandemic continues to disrupt the education system, as evidenced by the National Student Clearinghouse Research Center report that provides details on transfer students. While there was a significant increase in the number of students transferring from two-year colleges to four-year campuses, the report shows a plunge in reverse transfers. In other words, transfers out […]
Nov 26, 2020
The 2020 pandemic has taken a heavy toll on America’s higher education system as House Democrats unveil a new $39B relief bill. Congress was able to pass a similar plan back in May with nearly as much funding. While Democrats likely have the votes to approve the bill in the House of Representatives, the Republican-controlled […]
Nov 12, 2020
The financial picture of education has left many colleges in a somewhat dismal state regarding moving forward during the pandemic. Administrators now face the additional issue of educating faculty members about economic shortfalls related to education funding caused by COVID-19. Even if faculty understood the campus money, there’s still no guarantee schools would be saved […]
Oct 22, 2020
The pandemic has taken a toll on the financial health of college campuses across the nation, particularly in Texas. The pandemic has drained $11.5 billion in the state’s budget, as Texas A&M coronavirus fallout has led to $147 million in lost revenue. The governor has asked state agencies, including colleges, to plan on tighter budgets. […]
Oct 08, 2020
While many employers still anticipate an economic rebound in 2021, the first decline in the salary increase budget in 12 years has become evident, following a 2020 midyear survey of businesses. Here are some key results related to expected salary projections for the coming year: Salary Increase Budget Decline Projected for the First Time since […]
Sep 24, 2020
COVID-19 has wreaked financial havoc across many industries, including higher education. The pandemic and mass shutdowns have led to rising college layoffs and furloughs. While online learning can be a solution, university administrators must still work with tight budgets and weigh the costs of financial havoc during COVID-19. Financial Challenges for Universities In the year […]
Sep 10, 2020
The coronavirus pandemic has altered the course for countless organizations, especially college campuses this fall. With so much economic uncertainty on the horizon, many colleges are playing it safe by slashing expenses. Here are some of the different paths you can expect colleges to take for the fall semester to stay afloat. Outlook for College […]
