Interim Vice President for Finance Reka Wrynn announced to the Undergraduate Student Government (USG) on Wednesday that the University of Connecticut had reduced its budget deficit from $37.9 million to $12.6 million, adding that tuition and fees were likely to increase.
“We don’t have those exact amounts yet, but yeah, it’s inflation,” Wrynn said. “The cost of things goes up. But I will say that the university is committed to any time we increase tuition and fees that there is an increase in the financial aid bucket.”
A photo indicating a budget deficit. The University of Connecticut is operating under a deficit this fiscal year. Photo courtesy of Stock Go.
The university is in the process of implementing what Wrynn called a financial sustainability plan consisting of three key pillars: growing enrollment, resource reallocation and personnel optimization and reduction, adding that the “guiding principle” of these initiatives was to keep students from being “negatively impacted.”
“We want to hear back from you,” Wrynn said. “If you know you’re being negatively impacted, we want to hear that, so you know certainly we’ll look into them.”
Wrynn announced that UConn plans to increase enrollment by 4,000 students over the next five years. Multiple senators questioned this initiative, citing a housing crisis on the Storrs campus along with shrinking access to amenities like areas for students to study.
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Wrynn said that there was no housing crisis at UConn, saying there were plenty of empty beds available across UConn’s multiple campuses.
“Don’t believe everything you read. We have plenty of empty beds this year,” Wrynn said. “At the Storrs campus, in Stamford, in Hartford, we have empty beds right now. So, we would like to grow enrollment to fill those beds.”
When pressed by one senator regarding the number of available beds on the Storrs campus, Wrynn said she believed there were roughly 550 available beds on the campus. Wrynn added that a private development just outside of campus was also underway to provide more housing for students, in addition to housing expansions at the Hartford and Stamford campuses.
Other senators questioned Wrynn regarding student access to study spaces on campus, which Wrynn claims there are plenty of, according to data given to her by the Dean of the UConn Library.
Senators challenged Wrynn’s claim and said they frequently had to search every floor of the library to find space to study. One senator brought forward concerns about the accessibility of spaces known as study pods, which are inaccessible to some students due to their raised nature.
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Wrynn added that resources would be reallocated to “our high priority areas,” to ensure they experience as little cuts as possible.
A senator representing the African American Cultural Center (AACC) asked Wrynn why so many black organizations had experienced such large cuts to their budgets. Wrynn said it was because those organizations were not a part of those high priority areas.
“Primarily non-academic funds were the funds that were swept,” Wrynn said. “I would have to dig into the specific case to see, you know, maybe to step back a little bit in that there’s only so much money, right, to spread around and things get more expensive every year, whether it’s the travel or whatever the event is that you’re looking to participate in.”
photo of Connecticut Hall, the newest addition to UConn’s South Campus in Storrs, Conn. Despite the additional housing provided by the new building, multiple sources have claimed the university is undergoing a housing crisis. Photo by Sydney Chandler/The Daily Campus
Wrynn also spoke on UConn’s loss of federal research grants since the change in administration. The university had 63 of its grants terminated, which provided $41.3 million in funding for ongoing and future research.
Wrynn said that UConn is in the process of shifting its research priorities to be in line with the priorities of the Trump administration, something she says is usually procedure.
“We are pivoting as we do every four years when there’s a new administration,” Wrynn said. “We tend to pivot and realign our research priorities with the priorities of that administration and seek out research awards that are along uh those lines.”
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Those research priorities include national security, quantum information science, biosciences, artificial intelligence and health, wellness and quality of life, according to Wrynn.
Senators asked Wrynn what UConn’s research priorities were during the Biden administration to make the shift in priorities clearer to students. Wrynn said she was not familiar with those priorities herself but said they were published somewhere online.
A UConn Today article from September 2021 lists genomics and neuroscience, climate studies, cybersecurity, energy, personalized medicine, cancer detection and care, manufacturing innovations among others as previous research priorities.
In addition to federal cuts, Wrynn mentioned the constant funding risk from the state government, which can reduce UConn’s funding by up to five percent without the approval of the legislature, according to her.
“That’s always a risk in our budget,” Wrynn said. “If they should choose to do that throughout the year for any given reason, then that would create an additional reduction in our budget. And so, we just continue to remind people of that risk.”
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State funding dropped to $268.2 million in Fiscal Year 26 from $319.5 in Fiscal Year 25. $95.7 million, or 18% of FY 25 funds were denoted as temporary support.
Wrynn said the university expected another $15 million decrease in state funding for FY 27 but had submitted a request for $12 million to be put back into permanent funding.
While the university is operating under a deficit this financial year, Wrynn said that UConn still had the funds to cover current expenses for the time being.
According to Wrynn, the university has a balance of cash funds set aside for circumstances like this, similar to a savings account. But those funds are limited according to Wrynn.
“As you all know, when you spend that money down from your savings account, that’s one time funding,” Wrynn said. “It can Band-Aid the problem for one year, but once you spend it, it’s gone. And so, it doesn’t solve any problems.”
The company appears to be effectively serving its often-overlooked customer base.
The holiday month brought fintech Chime Financial(CHYM 3.13%) one of the best gifts a stock can receive — a substantial bump higher in price. Across December, Chime’s shares rose by more than 19%, lifted by a set of factors that included a recommendation upgrade from a prominent bank and a positive research note by an analyst who’s now tracking the company.
Good as gold
The bullish tone was set by that upgrade, which was made before market open on Dec. 1 by Goldman Sachs pundit Will Nance. According to his new evaluation, Chime stock is now a buy, up from Nance’s previous tag of neutral. The new price target is $27 per share.
Image source: Getty Images.
According to reports, the analyst’s move is based on the company’s new Chime Card, an innovative credit product that represents an evolution of the secured credit card (i.e., plastic that must be backed by a user’s actual funds).
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In Nance’s estimation, as a next-generation credit product, the Chime Card should earn more “take” (i.e., fees derived from use) and thus higher revenue and profitability for the company than many anticipate. The prognosticator wrote that “attach” rates — i.e., Chime customer uptake — could also be notably above current expectations.
On Dec. 11, a new Chime bull emerged. This is B. Riley analyst Hal Goetsch, who initiated coverage of the company’s stock with a buy recommendation. This was accompanied by a price target of $35 per share, which is well higher than even Nance’s very optimistic assessment.
Goetsch waxed bullish about Chime’s high growth potential, according to reports. He opined that the company is doing well servicing its target segment of customers traditionally shunned by established banks due to poor credit histories, among other perceived flaws. It has also cleverly partnered with lenders and other financial services providers to offer attractive products such as the Chime Card.
Today’s Change
(-3.13%) $-0.87
Current Price
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$26.95
Key Data Points
Market Cap
$10B
Day’s Range
$26.50 – $27.95
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52wk Range
$16.17 – $44.94
Volume
1.9M
Avg Vol
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3.8M
Gross Margin
86.34%
Executive shifts
Finally, Chime promoted no less than three of its executives to new positions. It announced in the middle of the month that former chief operating officer Mark Troughton had been named president, and Janelle Sallenave replaced him as chief operating officer (from chief experience officer). Vineet Mehra, meanwhile, became chief growth officer; previously, he was chief marketing officer.
All three appointments, announced in the middle of the month, were effective immediately.
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As the year came to a close, it was apparent that the company had executives who were eager to keep contributing to its success. That, combined with those bullish analyst notes and the somewhat under-the-radar success story that the Chime Card appears to be, makes this fintech’s stock well worth watching. This is one of the more innovative young businesses in the financial sector at present.
Car finance is now one of the most popular ways in which drivers purchase their vehicles in the UK. RICHMOND PARK, BOURNEMOUTH / ACCESS Newswire / January 5, 2026 / In particular, Personal Contract Purchase (PCP) and Hire Purchase (HP) agreements …
Carsten Höltkemeyer, the firm’s CEO, stepped down at the end of 2025, the company said in its announcement last week. Steffen Jentsch, chief information officer and chief process officer for FinTech flatexDEGIRO AG, will take his place.
“Jentsch brings a proven track record in scaling digital financial platforms, along with deep expertise in regulatory transformation and digital banking solutions,” the announcement said.
Höltkemeyer is set to stay on in an advisory role. The announcement adds that Ansgar Finken, chief risk officer and head of its finance and technology area, is also stepping down, but will remain on in an advisory capacity.
Finken will be succeeded by Matthias Heinrich, former chief risk officer and member of flatexDEGIRO Bank AG’s executive board.
“I’m truly excited to join Solaris and lead the next chapter — one defined by durable growth built on regulatory strength and commercial execution,” Jentsch said.
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“Digital B2B2C platforms thrive when cutting-edge technology, cloud-native infrastructure, and strong compliance frameworks work seamlessly together. Solaris has been a first mover in embedded finance and has helped shape the market across Europe.”
The release notes that the leadership change follows SBI’s acquisition of a majority stake in Solaris as part of the 140 million euro ($164 million) Series G funding round last February.
The news follows a year in which embedded finance “moved from consumer convenience to business as usual,” as PYMNTS wrote last week.
During 2025, embedded payments, lending and B2B finance all demonstrated clear signs of maturity — especially when tied to specific verticals and workflows instead of being deployed as generic platforms. The most successful implementations were almost invisible, woven directly into the systems where users already worked, the report added.
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“The embedded finance revolution that transformed consumer payments is now reshaping B2 commerce — with far greater stakes,” Sandy Weil, chief revenue officer at Galileo, said in an interview with PYMNTS.
“In 2025, businesses are embedding working capital, virtual cards and automated workflows directly into their platforms, turning financial operations into growth engines.”
It was a year in which “buy, don’t build” became the overriding philosophy, the report added. Research by PYMNTS Intelligence in conjunction with Galileo and WEX spotlighted the way institutions prioritized speed and specialization over ownership, “outsourcing embedded capabilities rather than developing them internally.”