University of Vermont closes $12 million budget deficit

University of Vermont budget deficit enrollment decline demographic cliff higher education finance

The University of Vermont has successfully closed a projected $12 million budget deficit, according to President Marlene Tromp. The announcement was made during her State of the University address in Burlington.

The university achieved this financial balance by eliminating vacant staff positions and addressing operational inefficiencies. This comes despite a significant decline in student numbers; the school reported a 15% drop in freshman undergraduate enrollment and a 7% decrease in total undergraduate enrollment compared to the previous year. Total enrollment for the fall semester is approximately 10,800 students.

Tromp noted that the institution faces several ongoing challenges, including reduced federal research funding and difficulties recruiting students from within Vermont. She highlighted the “demographic cliff,” a trend where fewer college-aged individuals are available due to lower birth rates following the Great Recession, which has particularly impacted New England universities.

Entities

Marlene Tromp · University of Vermont

Sources

UVM President’s State of the University Address, Checked Against UVM's Own Numbers [www.compassvermont.com]

17 days ago

UVM closes $12 million deficit despite student declines - Valley News [vnews.com]

18 days ago

UVM president says school’s budget deficit is closed despite declining enrollment [vtdigger.org]

18 days ago