In a few weeks, Harvard students who frequent downtown Boston on weekends will no longer be able to ride the T back to campus after midnight.

The Massachusetts Bay Transit Authority voted unanimously to cut late night T service on weekends at a Fiscal and Management Control Board meeting Monday afternoon. The cuts will end T service after midnight on Friday and Saturday nights, and are slated to take effect on March 18. Currently, the T stops operating at 2:00 a.m. on weekend nights. {shortcode-c28a5388c9ac452115d62b6b3e5feec818bd2c7b}

Declining ridership, limited time for maintenance, and a ballooning budget deficit all contributed to the Board’s 4-0 decision to shutter the service.

The decision and other cost-cutting measures are part of a larger effort to shrink the MBTA’s deficit. Transit officials toured the Greater Boston area in recent weeks to give presentations on proposed reductions in service, which would help curb the organization’s projected $242 million deficit. The MBTA announced Monday that the new projected budget for the 2017 fiscal year would have a $134 million deficit, reflecting over $104 million in saving measures.

In January, Cambridge residents and city officials expressed concern that cuts to late night service would not only make weekend excursions difficult for college students, but also economically hurt those who work night shifts.

Harvard students and alumni who ride the T also questioned whether cutting late night service was the correct move for the MBTA.

The changes will disproportionately affect the Harvard Square T stop compared to other stations. An MBTA report from last February found Harvard Square was the 4th busiest station during late night hours.

The MBTA claimed in its presentation that cuts would not stifle evening transportation, but rather shift the burden to taxis and ride-sharing services. Such a move has the potential to escalate growing competition between taxi drivers and ride-sharing services like Uber.

—Staff writer Joshua Florence can be reached at joshua.florence@thecrimson.com. Follow him on Twitter @JoshuaFlorence1.