COVID-19 Financial Pressure Forces Poughkeepsie Day School to Close Doors
As the coronavirus curve begins to take its shape for the coming months, communities are beginning to see the toll that the shelter-in-place requirements took on the country. The closure of businesses across the country has been readily highlighted; however, they are not the only ones who experienced a devastating change due to the lack of income and demand.
In late April, Poughkeepsie Day School announced that they would be closing their doors after June 2020. With over eighty years of reputable academic offerings, the school was unable to maintain running operations due to a decrease in enrollment and revenues with the coronavirus outbreak. Bard College, a prominent academic institution in Dutchess County, has extended its efforts to Poughkeepsie Day school's rising seniors.
The college is offering students the opportunity to complete their education at the same price as their current tuition, with the opportunity to take college credits alongside their curriculum.
"It is a sad day when a valued and long-standing member of the Hudson Valley educational community closes its doors," Dean of Bard College Dierdre d'Albertis said.
In previous years, the school has experienced significant difficulties keeping up the campus expenses with a drop in revenues. COVID-19 restrained their abilities even more.
Despite countless efforts to maintain a sustainable profit margin, the school had an estimated loss of over $2 million in April. The dramatic decline grieved the abilities of officials at Poughkeepsie Day School. They pride themselves on their high-level learning offerings, and dramatic cost cuts would compromise their core values and motivations.
The school announced in late April, giving its students the ability to make arrangements. They have left a mark on the community, providing the utmost of quality education to their students. Teachers and staff members influenced students' lives and created a baseline for success in students K-12. Staff members intend to work closely with students to provide support during this challenging time.
With a quick transition that took place for the community, Bard College was prepared to undertake the responsibility within weeks of Poughkeepsie Day School's announcement. The college previously offered an "early college strategy," which they used as a baseline for organizing the transition. Serving as a massive source of relief, Bard College gives students the ability to get ahead on their college credits while finishing their high school curriculum at the same price.
It is important to remember that schools, businesses, and individuals had prior financial conflicts before the pandemic. Americans frequently live paycheck to paycheck, making it difficult to withstand months without income. As private schools begin to reevaluate their structure, economically sound institutions may begin to step in and support their communities.