The higher ed bubble comes to another school.

The Chronicle of Higher Education reports.

U. of Wyoming’s President Declares Financial Crisis

The University of Wyoming’s president has declared a financial crisis and plans to reduce or cut academic programs and review the institution’s structure, according to a letter on Thursday from the president, Laurie Nichols, to the campus.

According to Wyoming’s financial-exigency policy, if the university is in a dire financial situation, it should follow guidelines to navigate the financial constraints fairly.

Ms. Nichols stressed in her letter the difference between financial exigency and the current financial crisis. Financial exigency, the worst of all scenarios, means the university may terminate tenured faculty members.

The university has seen a drop in state support due to a slump in Wyoming’s energy industry, the Associated Press reported.

The university aims to cut its budget for the coming fiscal years, and will review academic programs that may be reduced or eliminated. The goal, Ms. Nichols wrote in her letter, is to avoid financial exigency by cutting or reducing programs.