PASSHE - our alma maters

[Horror Child]

Not sure I understand the question.


https://www.indianagazette.com/news/...14c550ff6.html

I apologize. I thought the wording of the question was rather straightforward. Although I'm not a reader of the Indiana Gazette (sorry Matt), the linked article doesn't provide details beyond the dollar figure that Pidgeon stated - $100,000,000 and the potential source - "room and board". While the students' received a prorated refund on their room and board, each school's costs were also reduced as there is also no corresponding food, water, sewer, electricity or food service and custodial staff for the remainder of the spring semester. So what are the increased losses? And since it was up to the individual schools to decide if and how to give refunds, are the losses being incurred by the state system, the individual universities, or the university-related but not university owned entities that own the residence halls?

[Bart]

https://www.dailyitem.com/news/coron...9b7add2fe.html

[Fightingscot82]

https://lancasteronline.com/news/loc...cec4a2704.html

[iupgroundhog]

Why were they losing money before? Why is it worse now?

Not sure I understand the question.


https://www.indianagazette.com/news/...14c550ff6.html

[Horror Child]

Everything will be different now.

You've got a financially-strapped system in a financially-strapped state. Not only are the schools themselves losing money like never before the state of PA will lose untold levels of revenue.

While the federal government can borrow its way out of this the state is still going to have to balance its budget. The cuts will be very, very deep. PASSHE will certainly take a huge hit.

Why were they losing money before? Why is it worse now?

[iupgroundhog]

I think they'll be alright. The bailout included billions for higher ed and used a formula that favored schools with Pell students. About half has to be used on financial aid. Edinboro got $4.8 million. That helps with the fee reimbursements and endowment hits.

Anyone saying we should close campuses hasn't done the math. It would be catastrophic to Erie and Crawford counties for Edinboro to close. A local buffoon in the legislature got onto the PASSHE board. He quickly learned and doesn't criticize Edinboro much anymore if at all.

If Cheyney continues to progress, they get their debt forgiven but PASSHE is still on the hook for it all. Guess what happens with the debt if we pull the plug?

Everything will be different now.

You've got a financially-strapped system in a financially-strapped state. Not only are the schools themselves losing money like never before the state of PA will lose untold levels of revenue.

While the federal government can borrow its way out of this the state is still going to have to balance its budget. The cuts will be very, very deep. PASSHE will certainly take a huge hit.

[iupgroundhog]

I've read projections going both ways on enrollment. One, everybody hurts and enrollment everywhere drops. In another article, it's PASSHE's best scenario and students quit paying $5-10k more for Penn State branches and private schools. It will probably be a little of both. I don't think kids stay home without the economy back on track. There have to be options that seem better than college.

Another key component is the effect on the state subsidy. By any measure that will not be good. Could be devastating.

[Fightingscot82]

I haven't studied those numbers but it sounds like about $60 million system-wide. The system budget is about a half billion.

I don't know how much the schools are losing this semester but it might even be more in Fall 2020. Plus, it's speculation, but I think there's a good chance a lot of the schools take a hit in attendance for 2020-21. I'm thinking this isn't good for them. Of course, who knows? If a lot of out of work people decide to go back to school it could be a boon.

I've read projections going both ways on enrollment. One, everybody hurts and enrollment everywhere drops. In another article, it's PASSHE's best scenario and students quit paying $5-10k more for Penn State branches and private schools. It will probably be a little of both. I don't think kids stay home without the economy back on track. There have to be options that seem better than college.

[iupgroundhog]

I think they'll be alright. The bailout included billions for higher ed and used a formula that favored schools with Pell students. About half has to be used on financial aid. Edinboro got $4.8 million. That helps with the fee reimbursements and endowment hits.

Anyone saying we should close campuses hasn't done the math. It would be catastrophic to Erie and Crawford counties for Edinboro to close. A local buffoon in the legislature got onto the PASSHE board. He quickly learned and doesn't criticize Edinboro much anymore if at all.

If Cheyney continues to progress, they get their debt forgiven but PASSHE is still on the hook for it all. Guess what happens with the debt if we pull the plug?

I haven't studied those numbers but it sounds like about $60 million system-wide. The system budget is about a half billion.

I don't know how much the schools are losing this semester but it might even be more in Fall 2020. Plus, it's speculation, but I think there's a good chance a lot of the schools take a hit in attendance for 2020-21. I'm thinking this isn't good for them. Of course, who knows? If a lot of out of work people decide to go back to school it could be a boon.

[Fightingscot82]

I think they'll be alright. The bailout included billions for higher ed and used a formula that favored schools with Pell students. About half has to be used on financial aid. Edinboro got $4.8 million. That helps with the fee reimbursements and endowment hits.

Anyone saying we should close campuses hasn't done the math. It would be catastrophic to Erie and Crawford counties for Edinboro to close. A local buffoon in the legislature got onto the PASSHE board. He quickly learned and doesn't criticize Edinboro much anymore if at all.

If Cheyney continues to progress, they get their debt forgiven but PASSHE is still on the hook for it all. Guess what happens with the debt if we pull the plug?

[iupgroundhog]

The PASSHE system might never look the same.

https://www.cnn.com/2020/04/15/opini...rry/index.html

[IUPNation]

And the students renting from the slumlords are just out of luck. If you have campus housing you at least have a shot at a refund (pro-rated) or some credit toward next year (if there is a next year). Of course, those off-campus aren't forced to move out, either.

But, these actual 'college towns' are just taking an economic bashing. Already.

I guess the townies will appreciate the students being in town in the future.

[Bart]

SSHE predicted they will reimburse over 100 million dollars to students. Each school will have to fund it's loss.

[Horror Child]

Bloom "is reducing charges for room, meal plans and various fees like activities and parking by 50 percent. Resulting credit balances will be refunded by April 1."

https://www.dailyitem.com/news/unive...ae957f1c8.html

Kutztown posted something similar the other day - https://www.kutztown.edu/about-ku/ad...0-refunds.html

[Bart]

Bloom "is reducing charges for room, meal plans and various fees like activities and parking by 50 percent. Resulting credit balances will be refunded by April 1."

https://www.dailyitem.com/news/unive...ae957f1c8.html