the end of Ford Foundation support, a reduction in enrollment due to insufficient student housing, flagging federal funding, and broader economic stagflation, the university faced more fiscal austerity. In 1975, provost John Wilson was appointed president, balancing the budget once more through cuts.
=== 1978–present ===
In 1978, history scholar and provost of Yale, Hanna Holborn Gray, became president of the university. She was the first woman in the United States to be appointed to a full-term presidency of a major research university. Still facing budgetary issues, Gray modernized the university's financial systems, increased the size and tuition of the undergraduate college, and paired campus expansion and renovation with administrative austerity. While budgetary equilibrium was reached through the mid-1980s, acute deficits soon re-emerged, exacerbated by the 1990-1992 recession. Gray also oversaw the implementation of a unified 21 course core curriculum across all collegiate divisions in 1985, and invested …
