Announced June 22 by Ted Carter, president of the NU system, the plan is in response to a May directive issued by the Board of Regents to build a strategy for a balanced budget while enhancing the university system’s competitiveness in research, faculty pay, and student recruitment and success. The NU system faces an estimated $58 million shortfall by the end of the 2024-25 fiscal year, a gap brought on by inflation, muted revenue growth and enrollment declines. That figure represents only what it would take to maintain the system’s current status quo; in other words, it leaves nothing for new strategic investments.
