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While federal financial assistance provides some welcomed relief, CARES funds alone will not eliminate the need to reduce costs. EAB will continue to monitor this space closely to keep college and university leaders informed on federal actions that may affect higher education.
To avoid confusion, systems should clearly define cost savings, cost avoidance, strategic reallocation, and non-tuition revenue to eliminate possible confusion of categories during tracking and reporting. Explore the University System of Maryland's definitions.
As colleges and universities struggle to set budgets for the upcoming fiscal year because of the uncertainty caused by COVID-19, many are looking for concrete guidance on how to reduce operating costs.
At many institutions, living on campus is a crucial dimension of the student experience, as well as a key source of auxiliary revenue. But current public health evidence indicates that communal living could strongly facilitate virus transmission, and many campuses lack the ability to give each student the safest option of a private room and bathroom. Ultimately, all universities are facing the same question: what is the housing solution that provides students with an on-campus experience that’s as fulfilling as possible, while also protecting the community from outbreaks?