George Washington University. (Photo by Linda Davidson/The Washington Post).

George Washington University disclosed Wednesday that it is laying off 46 employees as part of an effort to reduce administrative costs at the largest higher education institution in the nation’s capital.

Last month, GW President Steven Knapp said that all administrative units had been asked to cut their budgets by 5 percent because of a shortfall in revenue related to declining enrollment in graduate and professional programs.

GW has about 25,000 students, more than half in graduate and professional programs. As of fall 2014, it had 5,242 full-time employees. GW, with a sticker price of $60,550, also has one of the highest sticker prices in the country, joining 56 other schools charging more than $60,000 a year.

[Just how high can college tuition go? See the list of 57 U.S. colleges and universities with a “sticker price" above $60,000.]

GW’s move comes days after Howard University, also in Northwest Washington, said it was laying off 84 employees because of financial concerns. Howard now has 3,432 full- and part-time employees, not counting those at its hospital.

To save money, GW said, it is taking several steps, including lowering energy costs, cutting overtime expenses and making “limited adjustments to services.” But the university said it was placing a priority on maintaining services that are “core to supporting the educational and research mission.”

“Administrative unit managers notified 46 current employees today that their positions have been eliminated,” GW said. “These employees have been offered transition assistance.”