There really is no universal plan for students this school year. As stressful as it is for students, college towns also face a tough semester ahead.
bloomberg.com/news/articles/…
Communities that rely on student spending and higher education jobs are struggling with fiscal woes and Covid-19 fears as the school year begins.
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Only about 23% of U.S. colleges and universities still plan on holding all or primarily in-person classes this fall, while 15% say they’ll offer a hybrid of online & in-person instruction. For the rest, the fall semester could be all or primarily virtual.
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As thousands of dorm rooms sit empty, this will cascade into the more than $14 billion of municipal bonds sold for student housing.
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Many of the towns and cities that host the more than 4,000 colleges and universities in the U.S. are built on a seasonal model, earning the bulk of their revenue between August and May, when school is in session.
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The college town crash is particularly bitter because, prior to the pandemic, many city leaders noted their economies were on an upswing.
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