Colleges, faced with vanishing revenues, have reached a point where many are considering the previously unimaginable: laying off faculty.

Colleges are dealing with rising cleaning and sanitation costs due to the virus, having to stockpile protective equipment and other supplies. At the same time, they are losing revenue from the absence of foreign students, locked-down sports programs, and miserly state budgets, as well as from a growing number of students who find higher education unaffordable and are shunning college altogether.

Schools also depend on revenue from students’ room and board, bookstore sales, and purchases of incidentals, such as snacks and college clothing.

Not only are those lacking now, but also many universities and colleges are seeing a dramatically smaller enrollment this fall. Some experts predict 15 percent fewer students arriving or returning, which translates to an estimated $23 billion in lost revenue.

To balance its books, the University of Akron laid off nearly 100 full-time professors, about 20 percent of its faculty, in mid-July. Earlier this month, the University of Texas at San Antonio dumped 69 teachers. Ohio University has conducted three rounds of firings since May, letting go more than 50 educators.

Other schools are actively considering similar measures.

Professors and other faculty members make up an average 70 percent of a college’s costs.

TREND FORECAST: As we forecast in March when schools began to close down, under the New ABnormal restrictions, ending of sporting events, etc., college towns will become ghost towns… “Rust Belts 2.0.” From hotels, restaurants, taverns, retailers, renters… businesses big and small will shrink and/or go broke.

  1. onlyme 1 week ago

    this would be a healthy purge for universities if they would first eliminate all those high paying administrative positions and bullshit departments. I’m speaking of Vice President of diversity and gender studies.

  2. Jay Jericho 1 week ago

    The word ‘university’ has become meaningless when you look at the standards gap between the top and bottom. More engineering and manufacturing applied colleges may be a better model.
    Phoenix University continue to advertise on YouTube – their degrees proudly offer you 50% credit for any life experience. And its accredited.

  3. Philip Zyrski 1 week ago

    It’s not what you know…it’s who you know! Let’s get that straight! You could earn multiple college degrees (undergraduate and graduate) and go nowhere! I know people who got their college degree and are stil stuck in their hated dead end jobs. I know people who earned their licenses and certifications and the best job they could get is an overnight job in some runned down dump with weirdos wandering the streets. I knew total morons who got the big offers from reputable firms just because they have a relative or close friend working there. It happens all the time. If you don’t know anyone in any industry, then you’ll most likely won’t get any job or you’ll get the worst job in the worst firm in the entire industry…the kind of job that nobody else wants. So, that’s the reason why colleges and universities are a waste of time, effort and money.

  4. Robert Deimel 1 week ago

    Thank you, Only Me, for your insightful comment. Robert Deimel

  5. michael mcclure 1 week ago

    i live near enormous state in pennsylvania and i have always wondered why, if it is such a successful business model, my forced donation is somewhere between 40 and 60 dollars a year.

  6. JustSayin 7 days ago

    I feel no sorrow for bloated colleges going under.

  7. Rock 5 days ago

    Not a bad trend. Cut the Marxist professors who destroyed the brains of our young people.

  8. MW 5 days ago

    I agree with Philip. Who you know is more important than what you know. That’s why I worked at a country club as a teen. I worked harder than the other caddies and attendants and was awarded an Evans scholarship. Every summer during college, I interned at members’ companies. Upon graduating from college, I had three job offers from prominent people in the community. Today, I’m a member at the same club.

Leave a reply

©2020 The Trends Journal

Log in with your credentials

Forgot your details?