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Latest News on Coronavirus and Higher Education

May 12, 2020

May 11, 4:20 p.m. George Washington University, in Washington. D.C., is projecting losses related to the coronavirus pandemic ranging from $100 million to $300 million over the upcoming fiscal year that starts July 1, the university announced Monday. The projected losses come on top of an estimated $25 million loss for the current fiscal year.

The chair of the university’s Board of Trustees, Grace Speights, said it would not be prudent to use funds from GW’s endowment, valued at $1.78 billion in 2019, to offset the losses, according to an article in the university publication GW Today. Thomas J. LeBlanc, the university's president, said administrators are considering options for reducing expenses including pay or benefit reductions, early retirement options, furloughs, layoffs, reorganizations, consolidations and reductions in travel, training, and other expenses.

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