Catholic colleges weathering financial hit from pandemic

TODAY’S CATHOLIC — Colleges and universities across the country sustained heavy financial losses after they sent students home midway through spring semester to prevent the spread of the COVID-19 virus.

For most schools, the biggest losses involved refunding room-and-board fees to students for the months they couldn’t live in campus housing. Projected budget shortfalls at Catholic colleges included $50 million or more at both Georgetown University in Washington, D.C., and Loyola University in Chicago, news reports said.

Catholic colleges and universities in the Diocese of Fort Wayne-South Bend remain financially stable but cautious as they plan to resume classes this fall.


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