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Harvard Faces $113M Deficit, Budget Cuts Ahead

10/17/2025

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Summary

Story summary

Harvard University posted its first operating deficit since the pandemic, totaling $113 million after a $116 million loss in research funding.
Despite record $629 million in current-use donations and an 11.9% endowment return, Harvard says its financial stability remains at risk.
Leaders say budget cuts and structural changes are necessary, and Harvard is negotiating with the federal government on funding.

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Story summary

Harvard University posted its first operating deficit since the pandemic, totaling $113 million after a $116 million loss in research funding.
Despite record $629 million in current-use donations and an 11.9% endowment return, Harvard says its financial stability remains at risk.
Leaders say budget cuts and structural changes are necessary, and Harvard is negotiating with the federal government on funding.