The University of Maine continues to strengthen its financial foundation through a diversified funding portfolio that includes tuition, research grants, and unprecedented foundation support. In recent fiscal updates, the institution has reported significant gains that underscore its commitment to advancing research and maintaining affordability for its students.
Surging Research Funding
In 2024, the University of Maine received an impressive $225.3 million in external funding for research and development, marking a 19% increase. from the previous year’s $189.7 million. This boost represents a remarkable 147% growth over the past six years, highlighting the institution’s escalating impact and leadership in research.
Tuition and Fee Structure
For the 2024-2025 academic year, the University of Maine has set tuition at $8,970 for Maine and Canadian residents, while out-of-state and international students will pay $17,460. Mandatory fees are uniformly set at $1,080 for all students, reflecting the university's commitment to transparency and cost management as it strives to keep higher education accessible.
Record-Breaking Foundation Support
The University of Maine Foundation achieved a historic milestone in the fiscal year ending June 30, 2024, by raising over $95 million—the largest annual total in the institution's fundraising history. This record-breaking achievement is a testament to the strong support from alumni, donors, and the broader community, all of whom are investing in the university’s mission and future.
Robust Operating Budget
Looking ahead to 2025, the University of Maine System (UMS) is set to operate with a budget $648.6 million, ensuring the resources needed to support ongoing academic excellence, research initiatives, and community engagement.
Together, these financial milestones demonstrate the University of Maine’s strategic investments in research, its commitment to keeping education affordable, and the robust support from its community. As the university continues to expand its research capabilities and maintain fiscal stability, it is well-positioned to drive innovation and foster educational excellence for years to come.