Coronavirus Could Force Texas Universities To Lose Over $400M In Room And Board Revenue
As if universities across the state of Texas didn't have enough troubles right now just figuring out how they're going to finish out the spring semester, here's one more bit of information: Texas universities could miss out on over $400M in room and board fees thanks to the coronavirus outbreak in the state.
Collectively, colleges and universities in Texas could lose $494 million in revenue, according to The Business Journals. Here's the break down of how much our major universities in the state of Texas are missing out on:
- The University of Texas at Austin: $79,714,614
- Baylor: $13,510,250
- Texas Tech University: $39,833,998
- Texas Christian University: $28,879,500
- Southern Methodist: $16,683,500
- University of Houston: $23,911,280
- University of North Texas: $18,409,640
- Texas A&M University: $54,907,680
The full list of schools can be found here.
According to WFAA, The Business Journals’ analysis of roughly 800 U.S. colleges and universities determined that about a quarter of their student-related revenue, some $44 billion in payments during the most-recent fiscal year, came from so-called “auxiliary enterprises” in the form of goods and services sold to students and faculty. The vast majority of that revenue came in the form of housing and food services provided to on-campus residents, according to data provided by the Department of Education.
The nation’s top five schools in room-and-board related revenue during the most recent fiscal year were:
- Ohio State University in Columbus ($490 million in auxiliary sales and revenue)
- University of California-Los Angeles ($478 million)
- University of Missouri-Columbia ($475 million)
- Pennsylvania State University in State College ($456 million).