IBL News | New York
Preliminary estimates of the economic impact from the pandemic at the Big Ten universities, including the nation’s leading research institutions, indicate $1.7 billion in losses, according to columnist Michael T. Nietzel on Forbes.
Universities’ leaders say that even that figure will grow in the months to come if the institutions are unable to reopen in the fall semester.
The projected losses are as follows, with a link to the press account or official announcement of each university’s estimate.
- Indiana University – $85 million.
- Michigan State University – $60 million.
- Northwestern University – $25 million just in the Spring semester room and board refunds.
- Ohio State University – $35 million just in housing, dining, and recreational feed refunds.
- Pennsylvania State University – $260 million.
- Rutgers University – $200 million.
- University of Illinois – $71 million.
- University of Iowa – $76 million, plus another $70 million from its hospital.
- University of Maryland – $80 million.
- University of Michigan – $400 million up to $ one billion for all three campuses (Ann Arbor, Dearborn, Flint) and Michigan Medicine.
- University of Minnesota –up to $300 million.
- University of Nebraska – at least $50 million.
- University of Wisconsin – $100 million.
- Purdue – No estimation available
Like other colleges and universities, the big ten schools will receive one-time relief from their share of the $14 billion provided to higher education through the federal Cares Act. Over $425 million were allocated for them.
