Weekly Briefing: Covid-19 could capsize your university’s budget.

First the pandemic upended the semester. It could jeopardize university finances. [Weekly Briefing] Covid-19 could capsize your college’s budget. [Image] Dominican U. of California By Fernanda Zamudio-Suaréz For the past three weeks this newsletter has focused on the new coronavirus. That’s not stopping any time soon. Most American colleges have had their semesters upended by the virus. Plenty of other public institutions have shut their doors. The stock market plummeted. Thousands of Americans are sick. What’s next? The Covid-19 pandemic poses a serious threat to the financial health of colleges and universities. ADVERTISEMENT [advertisement]( Scientists and other experts cannot say how long the novel coronavirus and its effects will last. That makes outcomes tough to predict. College leaders aren’t too worried about their institutions’ ability to stay afloat in the short term. Long-term planning is the challenge. Troubling situations are no longer far-fetched. For example, if the pandemic locks down the country for an extended time, campuses could remain closed into the fall semester, or longer. If the economy crashes, colleges already in financial straits could shut down for good, our Lee Gardner reports. Keep in mind that most colleges can float only three to five months of operating expenses, and the longer the pandemic rattles everyday life, the more likely it is to affect colleges’ business. Many factors are in play: A lot of colleges already rely heavily on tuition revenue. Higher education is already stressed about enrollment. The pandemic could cripple the economy in the long term, weaken family finances, stifle state support for public colleges, and rob endowments of funds. International students, which many colleges rely heavily on for tuition revenue, could stay home in the fall. Wait, there’s more. The pandemic hit the United States at a financially critical time for colleges, just as their leaders were planning budgets for the next fiscal year. The uncertainty could make this one of the hardest years for budget planning. What will colleges do? The pandemic’s effect on the stock market means endowments and fund raising will take a hit. Institutions will probably have to cut back on travel and public events, and trim their budgets in any way they can. Beyond that, it’s anyone’s guess. College administrators have to hope for the best and plan for the worst. [Read Lee’s story here](. Best of the rest. [Image] Getty Images Instead of highlighting other Chronicle stories that are not about this email’s subject, this week I’m sharing Chronicle headlines you may find useful as you scramble to move most of your work online. - [Moving Online Now]( (This is a free download of a collection of articles.) - [Going Online in a Hurry: What to Do and Where to Start]( - [Are Colleges Prepared to Move All of Their Classes Online?]( Lagniappe. [Image] Ikon Images via AP Images - ✏️Learn. If you’ve suddenly found yourself working from home, and not walking around the office, [here are 17 stretches]( you can do from your home desk or kitchen table. - 📚Read. What’s it like to grow up in a town with [no cellphone service or Wi-Fi]( - 🎧Listen. Three cheers for [musical distraction](. - 📺Watch. On Saturday night at 8 p.m., Pacific time, the Seattle Symphony [will stream a performance]( of Mahler’s Symphony No.1. This is a wonderful and comforting idea when Benaroya Hall is closed because of the coronavirus. Thank you for reading during this troubling time. I’m rooting for you. Stay safe and sane, folks. Cheers, —Fernanda Subscribe Today The Chronicle’s award-winning journalism challenges conventional wisdom, holds academic leaders accountable, and empowers you to do your job better — and it’s your support that makes our work possible. [Subscribe Today]( This Week's Top Reads In Case You Missed It [Going Online in a Hurry: What to Do and Where to Start]( Six steps for quickly (and realistically) moving your teaching online, with the goal of maintaining as much continuity as possible. ADVERTISEMENT [advertisement]( Data [Are Colleges Prepared to Move All of Their Classes Online?]( As many institutions shift to online learning to curtail the spread of the novel coronavirus, faculty members and students face a steep learning curve. (PREMIUM) Paid for and Created by University of Queensland [Breaking the Cycle of Disadvantage]( Although Australia is well known for being a prosperous country, more than one million residents experience low income, unstable housing, poor health, and more. Paid for and Created by Texas A&M University [A Life-Changing Visit]( Connecting prominent scholars from universities across the globe, the Hagler Institute provides a catalyst to enrich the intellectual climate and educational experiences for faculty and students at Texas A&M, offering advanced study and collaborative opportunities. Latest Jobs Visit [ChronicleVitae.com]( to view the latest jobs in higher education. --------------------------------------------------------------- [Sign up]( for other newsletters, [stop receiving]( this email, or [view]( our privacy policy. © 2020 [The Chronicle of Higher Education]( 1255 23rd Street, N.W. Washington, D.C. 20037 [The Chronicle of Higher Education](