Janet Lorin wrote an article featured in Business Week entitled “Colleges With Empty Campuses Face an Uncertain Financial Future.” Lorin asserts that the corona virus pandemic now threatens to remake U.S. higher education. Lorin expounds on this notion by suggesting that small and financially weak colleges might not survive. These schools will have to make different budget decisions. Now state schools are at risk from being immune to tax revenue falls. Another assertion made by Lorin is that the most immediate challenge will be Fall enrollment. If the pandemic lock down gets extended again freshmen classes will not be able to arrive on campus first with their families and international students will not be able to get into the country. This also impacts the size of classes and the amount of financial aid students could potentially use.
Now even the most prominent universities face financial trouble because their endowments are shrinking. Colleges are currently providing refunds for room and board, since students have to leave the campuses. Schools will lose research grants and contracts. With that being said I believe Udemy is a great alternative. Udemy is an online platform for students and professional adults. It emerged in 2010 and has been used by millions of people. Udemy has online courses that students can take at home or the mobile devices such as cellphones and tablets. You can take notes and download study materials and get a certification that can provide a six figure income, teach courses on Udemy, and promote Udemy through affiliate marketing. Udemy is also great because it is extremely affordable. A Udemy course can cost $10 to $180. This could prevent student loan debt and eradicate that burden from families. However, if students are already enrolled in college then they should continue their classes online. This just means that universities will have make financial adjustments if they want to maintain a student body.
Wealth Always Reigns Supreme