Wednesday, March 27, 2024

Ohio public universities face massive budget cuts. Here's what's at risk - the Dispatch

Penn State University plans to cut $94 million from its budget next fiscal year, a change its leaders say will move the university toward long-term stability. The University of Arizona announced a $177 million budget shortfall in January and a plan to "right size" through hiring freezes and budget cuts. Faculty layoffs and discounted degree programs are a result of West Virginia University's $45 million budget shortfall and declining enrollment, President E. Gordon Gee said last year. Public universities aren't alone in their struggles. Baldwin Wallace University, a Northeast Ohio private university, announced in January that what administrators thought was a $3 million budget deficit accrued during the last fiscal year actually totals more than $20 million. Diacon said unlike Ohio State University and the University of Cincinnati, most of Ohio's other public universities are in similarly precarious financial situations to Kent State.