A guest post from our new @ElevateNextLaw partner Phil Harris on the "next normal" in higher education and the impact the current COVID-19 crisis will have on higher ed law depts.
University of Wisconsin (my alma mater) said today that even if restrictions lift in June, it will face a $100 million loss. The higher education industry, like others, will face major and likely many "from here on out" changes.
The best way for law departments across all industries to weather the storm? Be extremely open to new solutions.
The pressure to reduce costs now and in the near term will affect all businesses and institutions in this country, whether they are for profit or non profit. And that includes higher education. Already, experts in higher education are predicting that there will be significant cost reductions because of the loss of revenue from tuition (including from declining enrollments), room and board, endowments, philanthropy, athletics, and media deals.