Temple University is cutting $60 million in expenses for fiscal 2027 while addressing a shrinking enrollment base, with plans to lay off roughly 40 employees and raise tuition for the 2026–27 academic year. The public university said its $1.3 billion operating budget reflects efforts to close an $85 million projected deficit. Temple President John Fry said the deficit problem has been driven by enrollment declining faster than operating costs over the past seven years, despite prior expense reductions. The university reported that it previously cut about 50 jobs in fiscal 2026 and reduced its projected deficit to $27 million through additional eliminations and attrition. The cuts come as first-year undergraduate enrollment increased—Temple said the incoming class of 2029 grew 9.2% year over year—and leadership signaled the next budget cycle will continue to rely on targeted workforce reductions and operational restructuring. The Temple move underscores how elevated costs and federal and state funding disruptions are amplifying the financial squeeze for institutions across sectors heading into fiscal 2027.