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.
USM, hit hard by pandemic cuts, expects no reductions in FY22 budget
February 5, 2021