Some colleges are closing permanently because of the coronavirus pandemic.
and universities. The fallout has left students and faculty at the most affected schools in a miasma of uncertainty, forcing institutions to consider pivoting to new business strategies on the fly.
“Now I'm out of a job and insurance during a pandemic, when most colleges and universities are instituting hiring freezes,” Bolker says. “I have to go back into what will be a completely barren academic job market….[and] look for jobs outside of academia.”that COVID-19 was not the principal reason for the board’s decision to close, but it didn’t help; the school had been running deficits for the past three years.
“As with a growing list of small, private liberal arts colleges that have closed in recent years, and others facing the same realities, the combination of declining enrollments, rising competitive costs, an insufficient endowment, and recurring annual deficits was too much for us to overcome,” she says. “COVID-19 squeezed out the last rays of hope.”
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