"...Penn State President Neeli Bendapudi bluntly said balancing the university’s budget could be the biggest challenge of her young tenure. Penn State operated at nearly a $200 million deficit throughout the 2021-22 fiscal year, prompting a new university-wide “strategic hiring freeze” that’s expected to stretch through at least summer 2023."
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Penn State is part of the College Meltdown.
https://www.highereducationinquirer.org/2022/09/state-universities-and-college-meltdown.html