Education

America’s standardized-testing giants are losing money fast

From The Chronicle: “The revenues generated by ACT Inc. from educational assessment and work-force development — a category that includes the ACT exam — declined by nearly $100 million during just the fiscal year that ended on August 31, 2020. The fallout was even starker at the College Board, where net program service-fee revenues — including what it earns from overseeing the SAT — in calendar year 2020 fell by $286 million compared to 2019. The organization warned in its financial statements that Covid-19’s effect on its bottom line could run the gamut from ‘a decline in revenues, an increase in operating costs, and/or potential future liquidity concerns.’ ”

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