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For Colleges, Vaccines Come Too Late to Save Spring Semester

  • Operating revenue to decline 5% to 10% over the next year
  • Pandemic has curtailed the lifeblood of campuses: students
Students at the University of Arizona in Tucson.
Photographer: Cheney Orr/Bloomberg
Updated on

Colleges can’t count on a coronavirus vaccine to save the spring semester.

Because young, healthy students are at the back of the line for shots, dorms that are already lightly populated are unlikely to fill up soon. That threatens revenue and creates risk for investors who financed a decades-long building boom.