By Vinny Porco

The U of L Board of Trustees has adopted the 2026-2027 budget. The university-record $1.96 billion budget saw the smallest percentage tuition increase since the 2022-2023 fiscal year.

This school year, undergraduate resident students will see a 1.67 percent increase in tuition from $6,695 to $6,807 per semester. Nonresident undergraduates will see a 0.75 percent increase from $14,868 to $14,980. In both cases, the tuition increase is $112, with no new additional fees.

This tuition increase compares to the $225 hike adopted last year, which came in addition to a university-wide $200 athletic fee. The fee netted $4.6 million in total revenue for the U of L Athletic Department.

Louie the Cardinal waves at fans while players run onto the field before a Sept. 5, 2025 Louisville football game against the James Madison Dukes at L&N Federal Credit Union Stadium in Louisville, Kentucky. (Photo by Vinny Porco / The Louisville Cardinal)

In accordance with a tuition and mandatory fee ceiling passed by Kentucky’s Council on Postsecondary Education in April 2025, this year’s $112 tuition increase is less than half of the possible $250 increase U of L could’ve imposed. Last year, U of L used $425 of the total $675 two-year increase ceiling.

The new budget is $186 million larger than last year’s. This 9.4 percent increase is the largest budget-to-budget jump since the 2022-2023 fiscal year, which saw a 14 percent increase.

When asked about the increase, U of L Chief Financial Officer Rick Graycarek told The Cardinal much of the additional $186 million came from Frankfort.

Although the Kentucky General Assembly neither increased or decreased their overall higher education budget during the 2025 session, the University of Louisville netted $260 million in state funding. This project-specific funding is set to cover most of the estimated $280 million construction cost of U of L’s new Health Sciences Building at the corner of East Chestnut Street and South Preston Street over the next three years.

About a third of the project-specific state funding is expected to be used in the coming fiscal year. that $89.4 million is more than half of the $168 million budget increase.

U of L President Gerry Bradley shows off his hands alongside Louisville Mayor Craig Greenburg after breaking ground on a new building at the university’s HSC campus on April 21, 2026 in Louisville, Kentucky. (Photo by Vinny Porco / The Louisville Cardinal)

For now, the U of L Board of Trustees and the administration believe the approved budget aligns with the goals of the new strategic plan. Vice President for Budget and Finance Jill Mullaney echoed President Gerry Bradley in praising the university-wide effort just before the Finance Committee’s final approval.

“This has been built by the entire university,” she said. “It is something that we’re truly proud of, and the shared governance that it takes.”

To access the full 2026-2027 Operating and Capital Budget, click here.