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The University of Alaska Board of Regents voted to cut or reduce more than 40 academic programs across the three universities in the system, the Associated Press reported. The system plans to discontinue 39 programs, reduce four additional programs and conduct a program merger.

The cuts are estimated to save $25 million, as part of an agreement the university entered into with Republican governor Mike Dunleavy last year to cut $70 million in state funding over three years.

“This represents the largest number of program reductions completed by UA in recent memory,” Karen Perdue, the vice chair of the Board of Regents, said in a statement. “It reflects the tough financial times we are in.”