NASFAA Mention: Coronavirus Schooling: As National College Decision Day Nears, Uncertainty for Both Graduates and Universities

"For many high school seniors awaiting graduation, May 1 – National College Decision Day – is supposed to be a day of celebration and relief.A day where they can show off their college apparel loud and proud by posting it all over social media. But more importantly, it’s a day to look at the new and exciting possibilities as they move forward in the next chapter of their lives. But like most major milestones in the past month, the COVID-19 pandemic has transformed that excitement into uncertainty," Fox News reports

..."University administrators and experts said there is an increased concern that institutions may not be able to meet their financial expectations to remain open.

Justin Draeger, president of the National Association of Student Financial Aid Administrators (NASFAA), pointed to Moody's Investors Service downgrading higher education from neutral to negative as a sign that universities will be having a very difficult year.

'It reflects the fact that most schools are not an Ivy League school, do not have significant endowments, and are facing some of the same cash shortages that other small businesses and families themselves are facing,' Draeger told Fox News. 'And we are concerned about the strain that all schools will be facing this next year.'"

NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.


Publication Date: 5/1/2020

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