The University of North Texas disclosed a projected $45 million budget deficit for fiscal 2026 and warned the shortfall is structural, forcing leaders to prepare for program and staffing cuts. President Harrison Keller attributed most of the gap to a $32 million decline in state funding and sharper-than-expected drops in international graduate enrollment. UNT’s situation follows a broader pattern of revenue pressures at public universities that lean on tuition and out-of-state students; UNT’s nonresident graduate headcount fell more than leaders had forecast, compounding a year that already included a $47.3 million tuition and fee revenue reduction baked into prior budgets. Administrators promised a deliberative process but signaled that the impact will be felt across academic and student services. Trustees and campus constituencies should expect frequent updates as leaders model potential cuts and mitigation strategies.