Colleges in crisis: How coronavirus impacts the future of higher education

CNBC's Scott Cohn reports on the future of higher education amid the coronavirus pandemic.

As colleges consider when it will be safe to reopen, there’s more than just the fall semester at stake.

While the global coronavirus pandemic and extreme economic uncertainty have pushed many schools to extend the decision deadline until June 1, they are are also postponing a final determination of what students can expect come August.

Increasingly, families don’t want to wait and see.

Current and prospective college students and their parents don’t feel remote learning has the same value as in-person instruction. Rather than commit to online classes at a pricey four-year institution, many college-bound seniors have said they will take a gap year or enroll for a semester or two at a community college instead.

Currently enrolled college students could take a leave of absence, as well, rather than pay top dollar for online courses. (The rules regarding deferrals and leaves vary from college to college.)

For colleges, the impact on enrollment could be financially devastating.

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