With the pandemic and its prolongation, public colleges and universities are trying to stabilize with the reduction of costs
EDUCATION. Despite the aid they have received, the cuts continue / Pixabay
The country’s public universities, institutions that failed to fully recover from the Great Recession of 2008, are now experiencing a new chapter of budget cuts due to the COVID-19 pandemic.
Despite the fact that many states managed to avoid a financial collapse of their fiscal budgets thanks to the money that Congress allocated to the hardest hit local economies; For entities that rely primarily on tourism and fossil fuels, there are still questions to be answered, even with the recent signing of President Biden’s economic stimulus package.
David Lassner, president of the University of Hawaii, reported during an interview that “the economy of the state of Hawaii has been crushed.” Although the CARES law, the first economic aid package established by former President Donald Trump, helped the system not have an overwhelming fall, the coronavirus has forced the institution to readjust its mission and expenses. “We go from 10 million tourists a year to zero almost instantly,” he said.
With tourism paralyzed, state revenues fell, prompting Hawaii Governor David Ige to request a 15% reduction, about $ 78.4 million, of the fund used by the territory’s university campuses and legislators are expected to approve the final budget in the coming weeks.
But, with the arrival of the pandemic and its prolongation, public colleges and universities in the country are still trying to stabilize with the reduction of costs, while they consider increasing their enrollment “despite how cautious they are to put more financial pressure on his students in a bitter economy “, he reviewed POLITICO.
The University of Alaska, a state that lives on oil and natural gas revenues, is preparing, for the third year in a row, for budget cuts that translate into millions of dollars. Likewise, Nevada’s higher education system also plans a 12% cut after its economy, which is based on tourism, was affected by the pandemic. Rhode Island and Louisiana colleges and universities are also preparing to face multi-million dollar losses during 2021 and 2022.
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