Nearly every aspect of normal life has been affected by the spread of coronavirus and its associated disease, COVID-19. Businesses of all different sizes and industries of all different sorts have been significantly impacted. Layoffs and furloughs have soared, with unemployment reaching levels not seen since the Great Depression. Household finances have been thrown into uncertainty as breadwinners have lost their jobs. And while banks and lenders have offered financial relief options, many are now curtailing these options as they must keep an eye on their own risk.
One huge area that COVID-19 is impacting and sowing major confusion is in higher education. Colleges and universities have been thrown into very uncertain waters as they are forced to convert to online-only courses while struggling with a myriad of other issues, especially in the realm of finances. We asked college professors and administrators, counselors, higher education consultants and many other experts in the field of higher education for their views on how COVID-19 is impacting colleges and universities, both currently and in the longer-term. Read on to find out what the effects of COVID-19 have been like for colleges and universities and what the future holds for higher education in the wake of this crisis.
As with COVID-19’s impact on the marketing industry, its effects on colleges and universities are multifaceted and quite complex. Whether it is in the area of applications and admissions, tuition, student loans or teaching, COVID-19 is making a substantial, and perhaps, lasting impression on colleges and universities.
With the outbreak of Covid-19, overseas education consultancy experts in India estimate a 40 per cent drop in demand for education in foreign universities next year.
With the US having the highest number of Covid-19 positive cases and many European countries close behind, students are looking at other options, including studying in India. But those who still want to pursue their degrees abroad in Fall (September 2020) this year are now in a state of confusion.
Getting visa applications processed, the uncertainty around the virus, availability of job opportunities after graduation, and travel restrictions are some of the worries they are grappling with, right now. Students are also worried whether they will get housing and part-time jobs in the countries they choose to study in. Due to dampened prospects for job opportunities in the current situation, banks are also being cautious about offering loans for overseas education, especially at the post-graduation level.
With so much uncertainty at our doorstep, all we can hope now is, that we find a solution to this crisis soon and normalcy gets reinstated asap.