deficit

The regulator had said it expected 40% of universities to be in financial deficit in 2023-24.

UC officials told regents Wednesday that the 10-campus university system could face a $504.7-million financial shortfall in 2025-26 if the state makes good on warnings earlier this year to reduce higher education funding as it grapples with a budget deficit.

But officials acknowledged the request would probably be turned down given the state’s estimated $28.4-billion budget deficit in 2025-26.

Dundee University has told staff that job losses are "inevitable" as it faces a potential deficit of £30m in the next financial year.

In an all-staff email, the university's principal, Prof Iain Gillespie, said it was planning for "a significant deficit" in the wake of "an extremely challenging period" for the UK higher education sector.