Small colleges were already on the Brink. Now COVID-19 Threatens Existence

[Just Sayin]

https://www.usatoday.com/story/news/education/2020/03/21/coronavirus-college-students-online-closing-private-liberal-arts/2889546001/

First is the short-term hit: Students are leaving residence halls in droves as colleges ask all but those truly unable to go home to pack up. Colleges are being called on to issue refunds, which could total in the millions of dollars for some larger liberal arts colleges. Schools are facing unexpected costs as they try to switch their entire classroom instruction apparatus to online-only. That's a particular challenge for small liberal arts colleges, whose calling cards are face-to-face relationships between faculty and students.
Then the second wave: What if summer sessions are out? That could remove millions more in tuition revenue and housing money. Small, private liberal arts colleges are extremely tuition-dependent.
Then the third wave will hit. Nobody knows how long the forced disruption will last, how deep a recession will be and how many students won't be on college campuses come fall. On a campus with only 1,400 students — like many scattered across the nation — a loss of even 50 students from projected classes could cause a major dip in revenue.

"I fear that this recession will have a major impact on institutions across the country," said Jeff Abernathy, president of Alma College, which enrolls just under 1,500 students in mid-Michigan.
Many of the nation's small liberal arts colleges and universities are in small, rural towns. Hardship for the schools can extend to the whole town.
"Think of all the ways 1,500 or 2,000 or 4,000 students affect the local economy," Hoogstra said. "Not having those students in town or the events is going to cause issues beyond just the college."
With demographers showing a shrinking number of high schoolers for several years to come, and with rising concerns about tuition costs, these small colleges were already facing tough competition for students. Many presidents already had concerns about the financial future of their schools.