For some colleges, missing the fall semester may be just the tip of the iceberg
“All of our formerly reliable sources of revenue — tuition, research grants, clinical revenue, private philanthropy and income from our investments and endowment — will almost certainly be significantly and adversely affected.”
With this dire pronouncement, Duke University, the wealthy private school in North Carolina, announced a total hiring, building and salary freeze for the coming year.
Dozens of other universities have done likewise, shaken not only by the current costs associated with shutting down campuses and refunding student fees, but trying to prepare for an uncertain future. Yale University has already frozen hiring until June 2021 — more than a year away — predicting that things are only going to get worse.
