CU Revenue Losses Could Be Nearing $1 Billion
If the four CU Boulder campuses are required to continue online learning through next school year after this school year ends in online learning, revenue losses could be substantial. The predictions include losses in tuition, research and auxiliary revenue. Auxiliary revenue includes housing and dining services. Even if the online learning only continues through the summer semester, CU will still see losses between $226.8 million to $526 million. Anything that goes beyond that will increase the losses substantially, and if classes continue remote learning through next spring, the losses will top $1 billion.
CU has already lost $185.7 million because of the coronavirus pandemic, including pro-rated refunds for students who moved off campus and stopped eating at dining halls as a result of the pandemic.
Budget predictions for next year are not looking hopeful, as state funding for next year is still being determined, but will likely stay flat or have a 16.9% cut. The CU campuses will have to make budget cuts, including eliminating raises, furloughs, layoffs, pay cuts, less travel, less financial aid provided by the university and fewer student services to balance the budget.