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Post by Rogobob77 on Apr 30, 2020 14:49:01 GMT -5
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Post by kevinudm on Apr 30, 2020 16:57:04 GMT -5
The University of Dayton has more than 90% of undergrads residing in its dormitories, and they had to refund $15m when they closed their student housing in March. If they are contemplating the dorms remaining closed come September the financial impact could be devastating, so Dayton is preparing now.
Much less of a problem for commuter schools like Detroit.
Two other major hits to universities relate to athletics and hospital systems.
The cancellation of the NCAA Tournament reduced the payout to universities by $400m. This is a big impact to the six power conferences, but not so much to the A10 (and virtually no change to the Horizon League). The major conferences were also affected by the loss of their conference tourneys. And the Big 10, SEC and ACC probably saw the advertising revenues dry up for their sports networks just as March Madness should have been providing a boost. This is not much of an issue for either UD.
Schools like Michigan are getting creamed because their hospital systems are closed for elective surgery. Again, not a problem for either UD.
So the COVID 19 economic hit to the University of Detroit should be relatively light, especially compared to schools that have large dorms, rely on huge athletic revenues, or have their own hospital systems. My expectation is that UD might enact hiring freezes and delay its capital campaign but will avoid drastic cutbacks.
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Post by Rogobob77 on Apr 30, 2020 20:15:51 GMT -5
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