What Higher Education Institutions Need To Know About Student Refunds

It's been a month since colleges began sending students home due to the COVID-19 crisis, but many are still struggling with how to address the potential for refunds of tuition, room, and board. Most schools are offering partial refunds for housing, meals, and facility fees, but not for tuition (since many classes remain available online). Even so, the question of when—and how much—to reimburse students remains an elusive target. These decisions are complicated by the fact that for many schools, room and board charges make up a significant portion of the campus budget. Deciding to provide even partial refunds will have far-reaching implications for this year's budgets and those that follow.