Nobody is going to pay the top dollars necessary to support many universities to sit at home and watch Zoom lectures. From Maria Copeland at campusreform.org:
- An NYU professor of marketing says the coronavirus will result in many schools closing in coming years.
- Students aren’t getting their money’s worth, and the pandemic has exposed that, he says.
As colleges attempt to recover from the pandemic and prepare for future semesters, a New York University professor estimates that the next 5-10 years will see one to two thousand schools going out of business.
Scott Galloway, professor of marketing at the New York University Leonard N. Stern School of Business told Hari Sreenivasan on PBS’ “Amanpour and Co.” that many colleges are likely to suffer to the point of eventual extinction as a result of the coronavirus.
He sets up a selection of tier-two universities as those most likely not to walk away from the shutdown unscathed. During the pandemic, wealthy companies have not struggled to survive. Similarly, he says, “there is no luxury brand like higher education,” and the top names will emerge from coronavirus without difficulty.