Private tertiary institutions across the state are likely to face a financial crisis when the pandemic ends – | Instant News

Small private schools in New York may not make it past the COVID-19 pandemic. There are several in the region.

“We all have reasons to worry, and small private colleges have more reasons to worry,” said Jonathan Gibralter, president of Wells College. He spoke to Democrats & Chronicles in the latest features, published here.

Some worry that without the injection of large funds from the federal government that continued operations will not be on the table.

See, many of them have faced financial challenges before the pandemic. Now, when these campuses are empty, serious questions begin to emerge.

“In many of our institutions, we don’t have a large cash supply,” Mary Beth Labate tells D&C. He serves as president of the Independent College and University Board based in Albany. The organization represents private institutions.

“It’s hard to deny if you look across the New York landscape how important we are,” Labate added. Wells College in Cayuga County, and Hobart and William Smith College in Ontario County are two of the most commonly referred private institutions in the region.

In the short term, there is no definitive answer. In the long run, the answer can be difficult.

See the whole report here from D&C.

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