It is common knowledge that many colleges and universities face growing and increasingly complex financial challenges. Many have responded by incrementally cutting expenses and adding new revenue streams. But COVID-19 has rendered such incrementalism insufficient for those countless institutions -- public and private, large and small -- that might suffer severe cutbacks or even be forced to close if the pandemic persists through the first semester, the coming academic year or beyond.
Originally published: September 22, 2020
Author: Susan Resneck Pierce
Position: President Emerita
Institution: University of Puget Sound
Published by: Inside Higher Ed