The economic challenges the university faces are not unique to Marquette. Universities nationwide are facing similarly difficult situations, and the higher education landscape will be shifting considerably in the coming years as a result.
As this New York Times article from Oct. 26, 2020, put it, “As it resurges across the country, the coronavirus is forcing universities large and small to make deep and possibly lasting cuts to close widening budget shortfalls. By one estimate, the pandemic has cost colleges at least $120 billion, with even Harvard University, despite its $41.9 billion endowment, reporting a $10 million deficit that has prompted belt tightening.”
Following is an inexhaustive digest of news articles from across the United States that lay bare the stark financial realities with which the higher education industry must contend now and for years to come.
- Why Marquette Will Endure - Urban Milwaukee, December 15, 2020
- Deep cuts at Catholic colleges draw backlash - National Catholic Reporter, November 30, 2020
- More colleges project tuition revenue will decline: report - EducationDive.com, October 29, 2020
- UW-Madison announces another round of furloughs for most employees in 2021 - Wisconsin State Journal, October 27, 2020
- Colleges Slash Budgets in the Pandemic, With ‘Nothing Off-Limits’ - The New York Times, October 26, 2020
- Colleges may never go ‘back to normal’ - WisBusiness.com, October 21, 2020
- National Student Clearinghouse Research Center’s Monthly Update on Higher Education Enrollment - National Student Clearinghouse Research Center, October 15, 2020
- New Round of Budget Cuts Hitting Personnel - Inside Higher Ed, October 7, 2020