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USM, hit hard by pandemic cuts, expects no reductions in FY22 budget

February 5, 2021

The University System of Maryland took the largest financial cuts of any state agency after the onset of the COVID-19 pandemic last spring, according to system Chancellor Jay Perman. The system faced a $223 million deficit towards the end of fiscal year 2020 when the pandemic hit, as well as a deficit of $633 million in FY21 — a $856 million shortfall in total — due to losses of tuition, housing and other revenue, as well as the influx of COVID-19-related costs.

Article Source: The Daily Record

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