The University of Wisconsin System Expects $170 Million in Lost Revenue
The University of Wisconsin System of Universities has announced that they project to lose almost $170 million due to the ongoing COVID-19 pandemic. Universities closed their doors and encourage students to stay off campus during an extended spring break initially. Now with the Governor Evers stay at home order continuing, many colleges have continued to use distance learning now through the summer months.
The loss of revenue comes from cancelled sports events, college dining refunds, and campus housing refunds. According to Wisconsin Public Radio, the brunt of the losses will be felt by University of Madison with $100 million in losses.
The majority of the unprecedented budget hit will be borne by UW-Madison. On March 30, Chancellor Rebecca Blank told faculty members the campus stood to lose $100 million.
The rest of the colleges in the system will share the additional $68 million in losses, with UWS projected to shoulder 1.3 Million in losses.
The state's other 12 universities and branch campuses will split losses of around $68 million, according to UW System projections. UW-Milwaukee is estimating $9 million in lost revenue. UW-Superior is anticipating a loss of $1.3 million.
There has been some relief from the federal stimulus package to help the college get by. There will likely be cuts, and potentially more aid money requested. You can read more about the specifics at WPR.org.