Lots universities, even rich ones like Princeton, freezing hiring and salaries or asking for some percent of salary giveback from faculty (e.g. Ohio St). What gives? I get public universities being concerned about state support, since tax revenues are surely (temp) down. 1/n

Endowments are down, too, but isn't that likely to be temporary? Do we think students just aren't going to go to university any more after this? I worry that COVID-19 is just a cover for making cuts that administrators always wanted to make but were afraid of the blowback. 2/2

Oops... wasn't done. Or do we just think the willingness to pay of students is going to go way down after seeing they can learn almost as much online?