It wasn’t alone, in 2019 more than 500 colleges reported shortfalls to the National Association of College Admissions Counselors (NACAC) by the deadline. The nation’s higher education system can hardly afford any more financial stress. According to Forbes’ 2019 College Financial Grades ranking, some 675 of the 933 private-not-for profit colleges we analyzed scored grades of C and below; meaning their balance sheets are weak and operations fragile. Using 2018 data, many colleges have already sent out financial aid packages with their letters of acceptance. Before the pandemic struck, institutions of higher education were already bracing themselves for another worrisome unknown.

Source: Forbes March 22, 2020 18:33 UTC