"As colleges across the country have sent students home and moved classes online due to COVID-19, many institutions find themselves in a tough spot: how to appease distraught students while remaining afloat financially.
On Tuesday, the Wisconsin State Journal reported that because of the pandemic, the University of Wisconsin-Madison expects to lose $100 million by June, a loss of about 3.2 percent of UW-Madison’s $3 billion budget. The figure includes reimbursements given to students for room and board after the school closed its campus, hired professional cleaners, and purchased the technology needed for distance learning.
In Wisconsin’s neighboring state, the University of Minnesota stands to lose an estimated $315 million from its $3.8 billion budget, according to the Associated Press. The financial losses stretch to universities in all parts of the country, as the University of California-Berkeley said it will lose $100 million, at least. Nearby San Jose State University in California stands to lose an estimated $16 million by the end of May. And Clemson University in South Carolina is estimated to lose about $20 million from the coronavirus pandemic, according to the Greenville News. Meanwhile, the University of Maine lost $12.8 million after it issued refunds to students for unused room and board. " …