Economics and Change in Higher Education

FEBRUARY 10, 2024

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.

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Economics and Change in Higher Education

FEBRUARY 10, 2024

Arnold has said layoffs can’t be avoided, and Robbins said that there are some “big problem areas” including central administration where there will be cuts. “We’re going to look at every vice president we have in the organization and say do we absolutely need (them)?” he said. Robbins declined to answer when layoffs will begin, saying he would “not necessarily” wait until a new fiscal budget year begins on July 1.

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