“Smaller schools were more likely to report these concerns.”
All of these schools are struggling, yet many of them still somehow find the money to fund diversity administrators.
74% of colleges are facing financial challenges, according to a new survey of higher ed professionals
The coronavirus pandemic has created a range of challenges for colleges across the country. Schools have been forced to close and re-open their physical campuses, invest in remote instruction and build significant testing and vaccination operations. And adjusting to these challenges can be expensive.
Now, in a recently released survey of over 700 higher education professionals by the Association of American Colleges and Universities, 74% of respondents said the most significant challenge facing their school is financial constraints.
Smaller schools were more likely to report these concerns. A significant 79% of schools with fewer than 5,000 students said financial constraints are a significant challenge, compared to 52% of those from schools with more than 30,000 students.
Plus, 60% of respondents indicated they are very concerned about the overall financial stability of their institution and 79% said they worry about meeting the increased financial aid needs of students because of the pandemic, across all sizes of schools.
According to Citizens’ Annual Student Lending survey, 56% of college students and their parents expect their costs (including tuition, room and board, meal plans, travel and activities) to increase this year by $8,700, on average.
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