Texas Universities Expect Major Financial Hit – May Raise Tuition

Universities, public and private, across Texas are bracing for a major financial hit which will impact their bottom lines at every level.

The COVID-19 pandemic has wrecked the economy all across the United States of America, Texas included. The Texas university system, which includes the University of Texas at El Paso, is also feeling the crunch. Universities across Texas are cutting jobs, limiting discretionary spending and halting many activities. According to the El Paso Herald Post:

Most are already reeling after losing millions of dollars in revenue and eating the costs of shutting down campuses and moving classes online in the spring. Faced with what experts have deemed an unprecedented budgetary crisis, they’re tightening their belts and enforcing hiring freezes, furloughs and layoffs. Struggling departments and programs may be eliminated, and some sports are on the chopping block. - El Paso Herald Post

Other cost-cutting measures will be considered which could limit student services and activities. Tuition increases are also being considered as colleges try and stay afloat. The last, state-mandated tuition increase was in November of 2019.

Many students are already questioning whether they should pay full tuition for limited services and many more have decided to sit out a couple of semesters to wait and see what happens next. Potential tuition reductions and the complete loss of tuition money from students taking a break will also greatly impact colleges financially. Another hit has come in the form of refunds for fees given to students who were forced to leave campus.

For now, college staff members nervously await the next round of job cuts and students nervously wonder how much they will have to pay for their education and, exactly what they will get for their money.