News Story

LEXINGTON, Ky. (June 30, 2026) — The University of Kentucky budget for the 2026-27 fiscal year is positioning UK to extend and enhance its mission to advance Kentucky, driven by continued growth in its healthcare system and investments in students, employees and communities across the state.

The budget — the largest in UK history at $9.6 billion — reflects an institution expanding its reach in education, research and healthcare while creating jobs and increasing access to affordable higher education.

“While this is the largest budget in our institution’s history, the numbers alone don’t tell the story,” said UK President Eli Capilouto. “What matters most is what those resources allow us to do — serve more students, care for more patients and strengthen communities across Kentucky.”

Growth fueled by healthcare, workforce Impact

UK’s healthcare enterprise continues to be a major driver of the university’s expansion, alongside steady growth in academic and research programs.

• About 5,400 jobs have been added over the past five years, bringing UK’s workforce to over 35,000 people.

• UK hospitals are treating tens of thousands more patients annually, with outpatient visits numbering in the millions in recent years.

“Behind these numbers are real stories — patients receiving care closer to home and families across Kentucky benefiting from a stronger health system,” Capilouto said.

Expanding access, keeping college affordable

The university continues to see strong demand from students, projecting another incoming class of more than 6,000 and total enrollment exceeding 38,000.

• More than $190 million will be invested in scholarships and financial aid this year.

• More than 90% of in-state undergraduate students receive some form of grant or scholarship support.

“Nothing is more important to Kentucky’s future than the success of our students,” Capilouto said. “We are committed to making a UK education accessible and preparing graduates for careers that strengthen our state.”

Investing in employees

The budget includes a 3% salary increase for eligible employees, with a minimum raise of $1,500.

It’s the 13th year out of 14 that some increase in compensation has been funded for UK employees.

“This budget is about more than growth,” Capilouto said. “It’s about impact and at the University of Kentucky, our mission has always been clear: everything we do is in service to this state.”

As the state’s flagship, land-grant institution, the University of Kentucky exists to advance the Commonwealth. We do that by preparing the next generation of leaders — placing students at the heart of everything we do — and transforming the lives of Kentuckians through education, research and creative work, service and healthcare. We pride ourselves on being a catalyst for breakthroughs and a force for healing, a place where ingenuity unfolds. It’s all made possible by our people — visionaries, disruptors and pioneers — who make up 200 academic programs, a $1.02 billion research and development enterprise and a world-class medical center, all on one campus.