A new analysis detailed how at least 15 states have proposed or enacted cuts to public university funding this year, prompting tuition increases, hiring freezes and deferred maintenance at institutions. The Pew analysis and reporting show material reductions in state support, with some systems trimming capital projects and others imposing midyear budget adjustments. In the UK, the Office for Students warned that nearly half of English higher‑education providers may report financial deficits in 2025‑26 despite tuition‑fee uplifts, citing weaker‑than‑expected recruitment and volatile international enrollments. The regulator said deficits, low liquidity and continued volatility in student recruitment pose systemic risk to the sector. Universities in both systems are responding with cost‑control plans, program prioritization exercises and appeals for new revenue streams including workforce partnerships and lifelong‑learning credentials. Finance chiefs are revisiting capital plans and contingency liquidity buffers to absorb further shocks. Boards and presidents should accelerate scenario planning, stress‑test tuition and enrollment forecasts, and prioritize investments that protect research infrastructure and critical student success services as state and regulatory pressures persist.