HALIFAX – The University of King’s College is confronting a $1.8 million deficit, prompting calls for operational changes. President Bill Lahey stated that the university's financial situation is precarious and requires immediate attention.

In an interview, Lahey emphasized the urgency of the situation, noting that if current trends continue, the university could exhaust its financial reserves in just a few years. He mentioned that the institution is grappling with rising salaries and operational costs, which have contributed to the deficit.

The decline in enrollment, particularly among international students, has further exacerbated the financial challenges. Lahey acknowledged that both domestic and international student numbers have dropped, impacting the university's revenue.

Concerns about the university's financial health have been echoed by the student union. On November 25, the union posted on social media, warning that the university is in a financial emergency and could deplete its internal savings by the 2026-27 academic year.

While Lahey refuted claims that the university would run out of savings by 2027, he confirmed that the institution is facing significant financial hurdles. Ellie Anderson, president of the student union, expressed her worries about the implications for future students and their overall university experience.

As the university navigates these challenges, Lahey is focused on implementing strategies to stabilize the institution's finances and ensure its sustainability in the coming years.