Financial Shortfalls Ahead if Schools Go Online Learning Only? : Jordan Schwartz

Effects on Schooling Due to Novel CoronaVirus

Effects on Schooling Due to Novel CoronaVirus
Effects on Schooling Due to Novel CoronaVirus

All 50 states in the USA have been opened up at various paces by mid-June but the novel coronavirus cases have climbed as all the citizens have made a vicious yet menacing step to get back to living their lives.

California and New Mexico have modified courses on in-store shopping, dining and now attention is turning to schools in the fall. To talk about the financial devastation that could be caused by an online-only learning environment for Indiana is independent fiduciary economic advisor Jordan Schwartz of Strategic Wealth Designers. Jordan Schwartz says it’s a tough decision that no matter which direction the state or the districts go, some parties are going to be unhappy.

The CDC has set out some guidelines for what is needed for schools to open in a socially distanced environment but some districts will have trouble attaching to those guidelines without some far-reaching creativity.

 Jordan Schwartz Provides some potential options

Jordan Schwartz Provides some potential options
Jordan Schwartz Provides some potential options

Jordan Schwartz says classroom size and alternating days will be some potential options. “Right now, it doesn’t look good for the school to be back in session based on the guidelines. There’s talk of going every other day and adding in Saturday’s,” Schwartz says.

“Keeping students in isolated groups will be difficult, especially for the older grades of middle school and high school.  The silver lining that the WHO stated just yesterday is that severe illness in those under 20 is very rare, so at least that is a positive.”

From a financial viewpoint, private schools and college campuses are in-line to be hurt the most if classes can’t be attended in person. Schwartz says it’s very difficult for origins to justify paying private school tuition cost or full tuition costs for Universities if the experience is an online-only one from their own home.

“Depending on how many kids you have in a private school or headed to college, you could typically be looking at anywhere from $5,000 to $100,000 in expenses and what parent is going to be willing to pay $30,000 for their 3 kids to go to private online school from their house, it’s not going to happen,” Jordan Schwartz says.

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