I don’t think that there will be singular solution for all schools. It will be interesting to see what the States start doing as far as getting back to business. After all, the schools have to operate with State plans. I’m watching what happens in states like AZ, not necessarily NY (as they are pretty far away from loosening restrictions IMO).
It’d be interesting to see how colleges operate with a hybrid of in-person and online classes, if that turns out to be necessary. Would some classes be online and others in-person? Or would some students taking classes in-person while others taking them online? Different colleges may adopt different approaches.
Maybe, but they should make that well known before fall classes start so there’s no confusion. If your kid gets Covid you have to come get them…fast. We can’t just put them on a plane or train. Might change more college decisions this fall (I’m sure it already has changed some).
I completely understand that and is the reason I said “large endowment” colleges. For example, Stanford has a $28 billion endowment and 7,000 undergrads. If half are full pay, you could take $100 million out of the endowment and give 3,500 full pay families a 50% tuition discount (28K) out of $55,000 annual tuition. This would be a temporary, once in a lifetime discount on tuition in extraordinary times but would create lots of good will from it and make taking another semester or two of online instruction more palatable. That’s less than 1/3 of 1% of their endowment money which is no way would be a financial hardship to these colleges. Or at the very least freeze tuition increases for the 2020/2021 class. Remember these students will be alumni one day and how colleges reacted in a time of crisis will play out in alum donations in the future.
Could mean that some types of classes that are less adaptable to distance education (e.g. labs or arts) may be done in-person in small sections (perhaps with social distancing modifications) even if others are done by distance education.
Normally, in situations where the buyer perceives less quality, but the seller does not see lower costs, the buyers just buy less and/or the sellers have to sell at a loss. But it gets more complicated because a semester of college is usually not a standalone purchase, since it is connected to a medium term sequence of transactions (7 other semesters over 4 years, or more for many students) so that refusing or delaying the purchase of one semester of college could have other undesired effects for the buyer (as well as the seller).
^^That wouldn’t work, however, if some students aren’t living withing commuting distance of the campus.
If not all students can live within commuting distance (either on campus, off campus, or homes within commuting distance), some students would have to take their classes online. Would colleges consider allowing others to take the same classes in-person under that scenario?
Did BC make a statement? Or did you mean BU?
Most college endowments are not liquid, and a large percentage are restricted, so colleges certainly will not willingly dig into their endowment to fund tuition discounts. They may have to cover operating deficits with endowment money, but that will be painful.
Some posters do seem to be confusing boarding schools and universities. Universities are not prepared for, nor expected to provide, health/quarantine services to students except on a very limited and exceptional basis. If your young adult becomes contagious, or the dorms otherwise close pursuant to college or governmental order, it is their own responsibility to leave and relocate wherever they wish. Some colleges have generously agreed to continue to offer emergency housing to international students or others in unique situations, or assist with the financial burden, but US schools are not acting in loco parentis-the housing contract always states the dorms could be closed in emergencies, and your student is required to sign that contract as a condition of obtaining housing. Similarly, campus health services are designed for brief, non-critical care, and that is all that is provided by colleges-they aren’t getting into the quarantine/critical care/hospice business.
BC = “because”
@twoinanddone Kids aren’t going to get on planes to go home if they have Covid-19. That’s crazy. And we wouldn’t drive 18 hours one way to go get S19 if he comes down with the virus. Kids would remain in their dorm rooms just like they do when they come down with a bad case of the flu. They’d stay in bed. Nice roommates or friends would bring them food. I could see the cafeteria organizing to-go options for a roommate to grab and bring back to the dorm. I don’t know. A lot to figure out but no way kids have to go home if they come down with the virus.
“The average school spends 4.6% of its endowment each year, according to NACUBO.” Assets pretty liquid to me.
I’m asking that top colleges spend 4.63% (instead of 4.6%). This is an extraordinary, once in a lifetime event where college students are not getting much value for their money if classes are online. Or at least freeze the 3.5 to 4% tuition increases for the 2020/2021 year. Colleges need to do the right thing here…and walk the walk…will be very interesting to see which colleges step-up and which ones drop the ball. This will have lasting consequences IMO.
Related to this, the Ezra Klein Show (Vox) has a podcast episode this week interviewing Dr. Gottlieb about this exact thing (the roadmap to reopening) - I found it a helpful listen (understanding better the issues with scaling up testing, for example, in order to get beyond Phase I and into Phase II). It’s Episode #318, released Monday April 13th. https://www.vox.com/2020/4/14/21219021/scott-gottlieb-coronavirus-covid-19-social-distancing-economy-recession
““These results suggest caution in reopening colleges and universities for face-to-face instruction in response to the COVID-19 pandemic,” Weeden and Cornwell wrote in their working paper.”
This being said, I think a lot of people would be interested in a list of smaller schools who are going to do all it takes to stay open and are in states with agreeing governors. Would be interesting…
College endowments, like any other assets, are managed in a way to “match” the duration of their liabilities. Some assets will be very liquid while most other assets are likely relatively illiquid, depending on how aggressive their investment strategies and/or money managers are.
In a bad market, they and their money managers are probably less inclined to liquidate illiquid assets to avoid realizing losses.
Actually, for many schools, if a student has mono, they are required to leave the dorm. I know some people who had to pick up their kids due to mono. This was way before Covid.
California’s governor said today, "mass gatherings” of hundreds or thousands of people would likely be banned at least through the summer.
They talk about the concerns for prisons and those that live in close quarters. Those living in close quarters would presumably include those living in dorms.
People live in close quarters all of the time. Kids live in close quarters in off campus houses. Millions of people live in giant apartment complexes in big cities. Dorm living is different than Lollapalooza.
My nephew was at U Minn and had mono. Roommate took care of him. My niece is at U of Illinois and had mono. Friends took care of her. Neither went home. Both were freshman in dorms.
@homerdog good to know, it must be different policy for different school then.
I think the point is b/c COVID is so contagious you can’t just send them home b/c they’d infect too many people en route unless mom and dad drive them home. This is diff. from flu and mono which are less contagious.