"Over 63 per cent of college students have experienced financial losses directly or within their families due to the pandemic," the letter said, citing a study conducted by the American College Health Association and the Healthy Minds Network.
An estimate in April predicted a decline of 25 per cent of institutional revenues in auxiliary revenues, which covers revenue from room and board charges, conference and facility fees, event tickets, parking fees and bookstores, it added.
Enrolments have also decreased amid the pandemic, with a 13 per cent drop in freshmen across all US institutions, the letter said.
The development comes as the US is currently the worst-hit country by the coronavirus pandemic with the highest number of cases and fatalties, according to Johns Hopkins University.
In its latest update on Thursday, the University's Center for Systems Science and Engineering (CSSE) revealed that the country's overall caseload and death toll stood at 13,916,543 and 273,316, respectively.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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