I think this is going to happen at a number of schools. I have a friend who works in this field and he thinks they are all in uncharted waters. Not sure schools can re-open in fall, not sure parents will be as comfortable with the idea of sendingtheirkids away, not sure international students will be able to get visas, not sure families will have the same ability to pay, etc…
Loomis sounds like they have a good approach - tell us now if you are planning to come here (rather than somewhere else). This gives them a decent read on numbers if the world returns to some version of normal by summer.
Don’t sign your contract until some of this dust has settled. Iow, if the world remains wild, you won’t lose any $ and be locked in. Fair enough!