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That will be horribly inconvenient and expensive for MIT students.
What will the Colgate students do if they stay on campus for a ten day spring break? The campus is in a small town with not much to do, and I don't believe that they're going to sit around studying throughout spring break. OTOH, I can understand the concern that they might bring diseases back from home or their vacation destinations.
Does anyone know whether NYU is shutting down its classes? Columbia is and the NYC area seems to be a hot spot. NYU seems to have a lot of evening classes too, with local professionals generally traveling to campus by subway.