MARTIN, Tenn. – The University of Tennessee Board of Trustees convened for its winter meetings, which reviewed application, enrollment and retention rates, as well as highlighted UT Martin’s bold vision for the future.
The Board reviewed data focused on the University of Tennessee System’s continued success in outpacing national trends in student demand, with growth in applications, enrollment and retention. Projections show that while the number of high school graduates nationwide is expected to decline by 10% between 2023 and 2041, Tennessee is predicting a 15% increase over that period.
Also reviewed by the board was the UT System’s strong financial performance, which has seen significant growth since 2020. Revenues have increased by 32% to an all-time high of $3.4 billion, while the university’s net assets have grown by 41% to $4.9 billion. Additionally, cash balances have risen by $619 million to $1.97 billion, and investments have expanded by $558 million to $1.6 billion.
“These financial gains reflect UT’s continued fiscal responsibility, strategic investments and commitment to ensuring long-term sustainability while supporting the University’s mission of serving students, faculty and the state of Tennessee,” UT Board of Trustees Chair John Compton said.
UT Martin Chancellor Yancy Freeman, hosting his first board meeting since his appointment as chancellor in 2023, reviewed UT Martin’s strategic plan, which underscores its commitment to innovative learning opportunities, strengthening industry partnerships, and supporting economic development in west Tennessee and beyond.
UT Martin is experiencing strong growth, with spring 2025 enrollment reaching 7,092 students—a nearly 10% increase from spring 2024. This represents the highest spring enrollment since 2013. The UT Martin campus also experienced record fall-to-spring retention of new first-year students, reaching 91.7% this semester.
UT System President Randy Boyd also outlined the System’s 2025 objectives, emphasizing continued progress in student success, research excellence, economic impact and expanding access to higher education across the state. Objectives for 2025 include:
- Collaborating with campus leaders to develop strategic enrollment plans in support of the goal to reach 71,000 students by 2030;
- Increasing the percentage of Tennessee college-going high school graduates who apply to a UT campus from 78.2% to 85%;
- Hiring two dynamic, transformative chancellors to lead UT Chattanooga and UT Southern;
- Establishment of a Land Use Institute through the UT Institute of Agriculture to research farmland and forestry loss while developing strategies for sustainable land preservation in collaboration with industry and state partners; and
- Expanding outdoor science, technology, engineering and mathematics (STEM) programs through 4-H camps, providing hands-on learning opportunities to prepare young Tennesseans for careers in STEM fields.
The meeting highlighted UT Health Science Center’s newly designated R1 research status, signifying its role as one of the nation’s leading research institutions. This recognition places the UT Health Science Center in an elite category of universities with high research activity, further solidifying its leadership in medical education, groundbreaking discoveries and health care innovation.
The Board also celebrated UT Martin’s continued commitment to workforce and economic development, including ongoing investments in technology and innovation initiatives through the groundbreaking of the Tennessee Entrepreneurial Science and Technology (TEST) Hub facility. The TEST Hub is a project designed to support regional entrepreneurship and industry partnerships, offering students and local businesses access to resources that encourage innovation and collaboration.
“The elevation of UT Health Science Center to R1 status and the groundbreaking of the TEST Hub at UT Martin reflect our commitment to advancing world-class research, strengthening workforce development and fostering entrepreneurship,” Boyd said. “These milestones are a testament to the momentum in making this the greatest decade in UT history, ensuring a lasting impact on Tennessee and beyond.”
In other business, trustees approved:
- Revised FY 2024-25 operating budget;
- FY 2025-26 state budget amendment request;
- FY 2025-26 tuition and mandatory fee increases for the UT Health Science Center;
- Statement of aspirations focused the crucial role the University fulfills in serving the State of Tennessee, emphasizing UT’s dedication to academic excellence, innovation and public service;
- Policy regarding the use of artificial intelligence technology by students, faculty and staff for instructional and assignment purposes, as required by Tennessee Public Chapter 550; and
- New academic programs, program modifications and new academic units.
For more information on the Board of Trustees’ meeting and agenda items, visit trustees.tennessee.edu. Please click here to view photos from the Feb. 27-28 meetings.