My Job Cut My Salary With No Warning?

I work at a small, private liberal arts college, and just started in the Fall. The college, like many others, is struggling with finances, and they have hired an outside consultant to figure out where all the money went. I knew the budget was tight - they cancelled all of the faculty searches, put in place a hiring freeze, are forcing the higher-paid staff to take a 2-week furlough. Yesterday, I received an email that my salary will be cut until the end of the fiscal year in July, with the loss being equivalent to 2 weeks salary. This equates to be about -$900 per month. Since I am considered “essential staff” as an educator, I have to continue working as normal - so no 2-week furlough. While I do acknowledge that I am in a privileged position to be making enough to be put into this predicament, $900/month is a LOT, especially when my rent already takes 5/8ths of my after-taxes pay, then I also have a car payment, groceries, pets, therapy, other debt (school loans mostly), and just gas since I live 45 minutes away from the school. I’m also single and live pretty far from family, so there is no supplemental income.

I’m assuming this is legal, but I’d like some confirmation if possible. Thanks!