The coronavirus pandemic continues to take a toll on area colleges and universities. North Carolina A&T could see a $14 million revenue shortfall this autumn.
A&T Chancellor Harold Martin told university trustees on Monday that the $14 million shortfall projection is a “worst-case scenario” estimate, based on issues related to COVID-19.
The News & Record reports that 38 percent of students have opted for remote learning this fall, with just five percent attending all classes on campus. The rest have combined online and in-person instruction.
Students who choose the online only option are paying less in tuition, which Martin says could add up to a nearly $4 million loss in revenue.
Other factors contributing to a shortfall include a loss in some student fees and an expected financial hit from the cancellation of the fall sports season.
And with fewer students residing and eating on campus, housing and dining revenues could drop by over $6 million.
Martin told the Board of Trustees that A&T is ready to cover the projected losses through federal CARES Act funding, and through unspecified cost-cutting measures. The university did not lay off or furlough any employees in the leadup to the fall semester.
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