Oso planning to go pro
I had heard that MU's freshman class was an issue well before COVID. This could be a very rough year for the University. https://biztimes.com/marquette-unveils-cost-cutting-plan-to-address-budget-shortfall/
Last year's class was disappointing not only number wise, but they had to discount tuition just to get enough bodies through the door so it wasn't a complete disaster.
All things considered $15 mil isn't too bad. Out here the University of Denver is short $45 mil, best case scenario we were told. With respect to Michigan State and other similar schools, I suspect much of that shortfall is due to canceled sports and massive losses in revenue?
All things considered $15 mil isn't too bad. Out here the University of Denver is short $45 mil, best case scenario we were told.
My old assistant now works for DU and was fortunate to avoid any cuts or layoffs.MSU’s shortfall is the university, not the athletic department.
You're misunderstanding. $15 million is Marquette's shortfall for fiscal year '20. Denver's is its projections for fiscal year '21. I have no idea what Marquette's revenue shortfall is for '21 but my guess is that it is significantly larger than $15 million.
Last fall I mentioned that the Board really needs to start asking questions of President Lovell. Betting on increased freshmen classes, only to have them come in smaller, is only part of the problem. Fundraising isn't going well. Too many announced projects that are falling short.
This right here.
Who is in his corner? Every rumbling I hear is negative.
$220 million projected deficit for University of Chicago this year (not including hospital, which will be hit hard)Northwestern $90 million
U of Chicago, Northwestern .. $300m loss. Many other industries report massive revenue hits.I'm always curious when this happens to ask .. what did society really lose there? Are the students of those two schools $300m less educated? What will society do with the $300m not spent there?Et cetera.
NO PROBLEM, CUT OVERHEAD.Rule of thumb, when an organization has 25% unutilized capacity it goes bankrupt.The country has bigger problems than colleges budget shortfalls.
gotcha. Yea I did not see DU's shortfall for wrapping up '20, just projection for 20-21. Staggering no doubt, as $45 mil best case is significant. I'm sure it will be a balanced approached of raising tuition in the short-term, cutting new projects and construction, tapping endowment. tough times for universities. My niece had to turn down CSU and go with Lacrosse because the economics of going mostly online out of state just didn't make sense to her parents budget. understandable.