Officials are said to be considering slashing the universities' £4.7bn teaching budget by 75%.
Birmingham council is considering slashing a further £1.25 million from its arts budget by 2020.
The findings come at a time when many school districts are considering slashing summer programs to save money, according to a recent survey by the American Association of School Administrators.
The Department of Business, Energy and Industrial Strategy recently proposed limiting these payments and has also considered slashing payouts to firms that are also in receipt of tax relief.
Devon County Council is considering slashing its youth service budget by nearly £1m.
Fridays fall also comes two days after Fitch Ratings said Wednesday it is no longer considering slashing MBIA's rating because the bond insurer raised $1 billion by selling bonds, fortifying the company's capital cushion.
Toyota Motor was up 3.0% to 2,730 yen ($29.29) following a report in the Nikkan Kogyo business daily that it was considering slashing its capital spending by 30.0% to 40.0% in the next fiscal year, which begins in April.
In economic news, The Bank of England considered slashing interest rates by more than 200 basis points this month before settling for a smaller but still spectacular cut, raising expectations of further big cuts to stave off a deep recession, minutes of its Nov. 5-6 meeting showed.
Shortly after Tuesday's Supreme Court ruling, The New York Times reported that the administration is also reportedly considering slashing the annual refugee resettlement cap to below 50,000 ― the lowest it would be since 1980.
Just when it's needed most, our lawmakers on Capitol Hill are considering slashing poverty-focused international assistance by almost half, even though these life-saving programs account for less than one percent of the federal budget.
