The bursting of the higher education bubble has finally struck its first blow, and it is a serious one. Several major public universities have announced multimillion dollar budget cuts in January, citing enrollment declines among other factors. Pennsylvania State University expects to cut $94 million from its budget starting in July 2025. The University of Connecticut (UConn) announced significant budget cuts in response to its projected $70 million deficit. And the University of New Hampshire (UNH) will slash expenses by $14 million. These cuts were a long time coming—higher education is facing an enrollment cliff, even as it continues to spend on administration and student services like there's no tomorrow. Pandemic-era emergency funding could only hold off the reckoning for so long.
https://reason.com/2024/02/02/university-budget-cuts-were-overdue/
