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College Decisions, Financials, and Corona Virus

1917souci1917souci 140 replies6 threads Junior Member
Anybody reconsidering their decisions based on everything that has happened these past few weeks.? My S20 has not decided yet and many factors including distance which was not an issue before are starting to weigh in.

My OSU sophomore has to move out of the dorms on Sunday and her school like many others is going online until the end of the semester. I feel terrible for her and for everyone going through this. As disappointing as it is, health comes first and there was no other way to approach this. Incredible for sure.

I wonder if this is also going to change actual yields, enrollment, and deferred/waitlists situations for many schools. As unsettling as this is for us, this must be a logistical nightmare for every single school as well as their admissions dept.
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Replies to: College Decisions, Financials, and Corona Virus

  • MOY906MOY906 6 replies0 threads New Member
    In a critical state of limbo. My son was holding out for U of Michigan decision before committing to any offers. Deep dives have waited. Follow up visits have waited. Audition-based scholarships are on hold (orchestra). Now my son is feeling anxious about committing without the follow up visits. As a parent this makes me nervous. Realistically, I don’t think the universities will reopen my May 1.

    Advice...should a decision be made without all of that? Do you have reliable resources for non-biased information (e.g., College Board, US News & World Report)?
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  • KnowsstuffKnowsstuff 6931 replies30 threads Senior Member
    Markets will recover. This correction was expected. CV was not.

    As mentioned there is so much information online and social groups to find out information. I have a junior in engineering there and still on campus at Michigan and I am a regular on their thread if you have questions just PM me. You should have some concrete information on 3/27/2020😉. BTW
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  • LemonleeLemonlee 119 replies7 threads Junior Member
    edited March 26
    One thing we are now asking my S20 to also consider is the financial health of the schools. Forbes published an article back in November giving colleges a financial grade (before CV). You can do a google search to find the study) - there is an interactive table for you to look up the grade assigned to each school.

    Whatever their financial situation was then, it is only worse now with CV, given the R&B refunds, anticipated loss of revenue from summer programs. and possibly lower yields with less international students.

    His top three schools are graded C, B, and B+ while the school my daughter is currently at got an A grade. Interestingly enough, my D’s school is refunding 50% of the semester’s R&B fees while the C school my son is interested in is only refunding 20%, even though they were both about halfway thru the semester. They probably aren’t in a position to be able to refund half.

    That C school is a well-known school with a good rep and would also be the lowest COA for him, but I am now hoping he ends up choosing one of the other schools even though they will end up costing more.
    edited March 26
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  • trippfolsomtrippfolsom 61 replies0 threads Junior Member
    @Lemonlee can you send a link to that article for the rest to see ? Thanks for this post!
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  • trippfolsomtrippfolsom 61 replies0 threads Junior Member
    Thank you.
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  • ucbalumnusucbalumnus 82822 replies738 threads Senior Member
    edited March 27
    taverngirl wrote: »

    From that page:
    However, just as income inequality has become more pronounced among U.S. households, the wealthiest elite colleges are getting richer, but the most of the rest have become poorer.

    [...]

    Even worse, according to a study by Kevin P. Coyne, of Emory University business school, and Robert Witt, chancellor emeritus of the University of Alabama system, bloat is endemic to our nation’s higher education market.

    “Public colleges have 6.4% excess capacity, growing at about half a percentage point a year. But the private colleges have 12.4% excess capacity, growing at about triple the rate of public colleges,” Coyne says. “Here’s the worst news. The smaller half of private not-for-profit colleges, those with enrollments below 1,125, have overcapacity of 28% and growing rapidly.”
    edited March 27
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  • kpopmomrunnerkpopmomrunner 48 replies9 threads Junior Member
    At the beginning of March, our eldest son got accepted for transfer to an in-state private school. This is the only school he wanted to continue and pursue his bachelors after he finishes with his associates from our local cc this coming summer. Now with his FA we will be paying an additional 10-12K on top of what we set aside to help him financially. Thats a lot of money! We do not want him to take out any loans. Plus we have another kid attending another private LAC. So that in a way gave me a pause. Then the pandemic happened. With most colleges doing online classes, and there's no end nor slow down for this virus (as someone in healthcare), I have a feeling this will continue until next year until majority of our population gets herd immunity. There is a possibility of online classes continuing in the next semester or beyond. Is it worth it to really put that commitment payment down when everything else is uncertain especially the economy?

    I am trying to weigh in things at the moment. I am going to explore the following:

    1) Pay the commitment down payment, wait for the FA appeal, and also wait for how colleges plan to open in the fall 2020 esp if we are still dealing with the pandemic. If schools plan to continue to teach classes online, then is it worth it to spend 24-26K/year? If this is what most schools are doing in the fall, my next option is-

    2) IF allowed for transfer students, I will have my son defer for either spring 2021 or Fall 2021. Have him take a gap year. I would suggest he work but how can he when our current economy is shot due to the pandemic?Well, I guess he can as he is picking up small online projects here and there. That's another thing that worries me, the financial impact to every family bec of covid19. Or,

    3) Have him take online courses/degree for now.

    This is really a tough situation for everybody. We are facing some uncertain times.
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