Fed’s Harker warns US higher education ‘is in peril’

Patrick Harker
Philadelphia Fed

Philadelphia Fed president Patrick Harker has forecast severe financial problems across the US higher education system over the next five years.

Speaking at a symposium of higher education institutions on May 12, Harker said US universities and colleges could face $70 billion to $115 billion in “revenue shortfalls”. The “system is in peril”, he said.

Harker, who was president of the University of Delaware between 2007 and 2015, said four-fifths of higher education providers could face deficits

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