The COVID-19 pandemic is exacerbating already strained college and university budgets. A big test is coming in the 20-21 academic year. Hard decisions will need to be made.
As they say, “when there are challenges, there are also opportunities.” Amid these budget challenges, colleges and universities will review their budgets closely to sync them these disruptive times.
Schools will need to balance two objectives:
- being careful in their spending
- being careful not to cut investments that drive enrollment, retention, and student success.
Colleges that go wide, go fast, and strive to be affordable will light the torch to a “New Access.”
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