Research universities and college systems ramped up federal lobbying in 2025 as campuses sought relief and clarity amid administration cuts, grant cancellations, and policy churn. Higher‑education institutions spent millions to influence Congress on financial aid, international‑student policy, AI funding, and grant reinstatement—efforts that have already yielded mixed results. A year into the current administration, universities are tallying budgetary costs: some Trump administration actions were scaled back, but sustained uncertainty is showing in enrollment and operating margins. Institutions reported delays in grant execution, added legal costs, and increased spending on compliance and public‑affairs functions. Board members and CFOs told sector publications they expect continued pressure on margins and will prioritize liquidity, alternative revenue, and expense discipline in 2026. For trustees, the clear takeaway is governance stress-testing: boards should demand cash‑flow scenarios, plan for multi-year enrollment dips, and push leadership for targeted lobbying and legal strategies to protect mission‑critical funding.