UNIVERSITY OF PRINCE EDWARD ISLAND
Balanced operating budget of $231.5 million approved by UPEI's Board of Governors

The University of Prince Edward Island Board of Governors approved a balanced operating budget for the 2026-2027 fiscal year at its meeting on March 31, 2026, despite a challenging financial environment primarily caused by federal immigration policy affecting international enrolments and significant, but normal, inflationary cost pressures. The 2026-2027 Operating Budget is at $231.5 million, representing an increase of 3.8 per cent over the previous fiscal year.

In a joint message to the campus community, Dr. Wendy Rodgers, President and Vice-Chancellor, and Tim Walker, Vice-President Administration and Finance, outlined that the $231.5 million budget is spread across three budget packages which are treated independently and for which each has its own special funding model:

"We have managed to achieve a balanced budget by managing costs as well as reflecting increased revenue from our government partners; tuition and fees; and ancillary revenues," said President Rodgers. "The main operating budget remains aligned with University values, supporting Making Our World a Better Place: UPEI Strategic Plan 2025-2030 and our UPEI Action Plan. While clearly focused on constraint and restraint, the 2026-2027 budget also includes targeted investments in several key strategic priorities, including student recruitment and retention."

Maintaining the focus on student success was paramount throughout the budget process. As of October 1, 2025, the official enrolment was 5,503 students, including 1,630 international students. This represented a 2.9% decrease compared to the 2024 count. With federal policy decisions related to international students still impacting UPEI (as with all Canadian post-secondary institutions), the 2026-2027 Operating Budget reflects an overall projected enrolment decrease of 4.8% from enrolment in fall 2025.

UPEI will increase tuition by 6.5% and international fees by 7.5%. The equivalent of 1.0% of the increase in international fees will be deployed toward increased emergency bursaries for international students. The Atlantic Veterinary College will increase tuition and unsubsidized fees by 4.0%. Medical learners studying at the Faculty of Medicine Regional Campus are subject to tuition rates set by Memorial University of Newfoundland. Those tuition rates are not yet known for 2026-27.

Despite the increases, UPEI's undergraduate annual tuition for domestic students remains one of the lowest in the Maritime Provinces. Island students also benefit from the George Coles Student Bursary, which significantly offsets the tuition costs experienced by students attending UPEI in the amount of $3,500 annually to a maximum of $14,000 over four years.

As in previous years, UPEI must await final enrolment figures -- particularly as they relate to international student enrolment -- and to assess how strategic enrolment management efforts are affecting UPEI's student attraction and retention rates. In addition, this budget has been approved prior to the Government of Prince Edward Island's announcement of annual operating and restricted grant funding for the 2026-27 fiscal year and beyond. UPEI will adjust, as required, to the resulting financial realities as those details become known.

"Many thanks to the University leadership, budget managers -- both academic and non-academic, and to the Government of PEI for their ongoing efforts and support in what has been a particularly challenging budget cycle," said Walker. "As the provincial university, together, we will address the challenges presented by 2026-27 and ready ourselves for more adjustments so that we can stabilize, and then strategically grow in the future, to support our students, employees, and communities."

View the 2026-2027 Operating Budget Plan
 
2026-27 OPERATING BUDGET HIGHLIGHTS