"Colleges across the nation are scrambling to close deep budget holes and some have been pushed to the brink of collapse"

Las Vegas Sun:

Scores of colleges say they’re taking heavy hits as they refund money to students for housing, dining and parking after campuses closed last month. Many schools are losing millions more in ticket sales after athletic seasons were cut short, and some say huge shares of their reserves have been wiped out amid wild swings in the stock market.

Yet college leaders say that’s only the start of their troubles: Even if campuses reopen this fall, many worry large numbers of students won't return. There's widespread fear that an economic downturn will leave many Americans unable to afford tuition, and universities are forecasting steep drop-offs among international students

...

The University of California, Berkeley, and the University of Wisconsin, Madison, each expect losses of about $100 million, and that's assuming campuses reopen by this fall.