COVID-19 has touched almost every college and university in the United States causing a shake out Higher Education going forward, Schools that are not quick to respond will be left behind, bankrupt and will close. It has been reported that the 4,000 institutes of higher learning, accounting for 25 million students, have all been impacted by the COVID-19 crisis. Universities who have not offered online classes before are now converting over to this platform. The entire higher education ecosystem has been touched:
- students are now thrown into an online environment with no preparation and many are disappointed with the experience,
- administration has shifted courses to all pass/fail impacting GPAs,
- faculty who are under-trained and may not be comfortable in this environment are required to shift pedagogical approaches in the matter of days which often takes years in the face-to-face model,
- academic affairs have compliance issues along state, regional and national lines
- CFOs are feeling the financial implications
Many smaller schools that do not have huge endowments or reserves to move forward are pushed into further jeopardy of closing. Schools that are nimble and have migrated to embrace technology will be the clear winners. For more information look at the article in the link below.