The University of Chicago announced it trimmed its projected fiscal 2025 deficit to about $160 million after staffing cuts and reductions in doctoral enrollment, signaling continued cost pressure at elite private institutions. The school said layoffs and program adjustments were part of a broader effort to rebalance its budget for the coming year. The week-in-review also flagged sector-wide shocks: S&P Global issued a negative outlook for nonprofit colleges in 2026, citing shifting federal research policies; Yale is preparing for an estimated $300 million in annual endowment taxes under new federal law; and Northwestern agreed to a $75 million settlement and governance changes to restore access to roughly $790 million in previously frozen federal research funding. In state-level developments, the University of Central Florida secured initial accreditation from the Higher Learning Commission following a state mandate to change accreditors, and faculty unions in Florida are challenging a new requirement that instructors publicly post course materials, a move union leaders say could chill academic freedom. Sources: university announcements, S&P Ratings, National Student Clearinghouse Research Center, Tallahassee Democrat.