ST. MARY’S CITY, Md., June 13, 2025 — The St. Mary’s College of Maryland (SMCM) Board of Trustees approved a nearly $97 million operating budget for fiscal year 2026 today, projecting a small surplus. The budget includes a 3% tuition increase, the first since 2019, as the college navigates financial challenges facing higher education nationwide.
President Tuajuanda C. Jordan, PhD, emphasized the budget’s role in maintaining stability. “This budget keeps the College on sound financial footing in the face of unprecedented challenges to higher education in America,” Jordan said. “With nearly every aspect of higher education under attack—from accreditation to financial aid and access, to research funding and more—the College enters the coming year prepared to meet these challenges head on.”
The modest tuition hike follows six years of flat tuition, a period during which the college improved operational efficiency. John J. Bell, SMCM Class of 1995 and chair of the Board of Trustees, highlighted the institution’s commitment to affordability. “The College’s leadership rose to the challenge of improving operating efficiency that allowed us to maintain flat tuition the past six years,” Bell said. “This modest 3% increase still places our tuition at a point, adjusted for inflation, that is 17% lower than it was before President Jordan arrived in 2014. Together, we have worked to make a St. Mary’s College education more accessible and affordable to Marylanders.”
The budget supports SMCM’s mission to provide accessible, high-quality education while addressing rising costs and external pressures. The projected surplus will help ensure financial resilience amid uncertainties in accreditation, financial aid, and research funding. The college, located in St. Mary’s City, serves as Maryland’s public honors college, emphasizing liberal arts and experiential learning.
Details of the budget, including allocations and financial projections, are available in the meeting documents on the SMCM website www.smcm.edu. The documents outline how the college plans to balance academic excellence with fiscal responsibility, ensuring resources for faculty, facilities, and student services.
The 3% tuition increase reflects a careful balance between affordability and the need to sustain operations. SMCM’s tuition remains competitive, particularly when adjusted for inflation, making it a viable option for Maryland residents seeking a public honors education. The college has prioritized accessibility, with initiatives to support financial aid and outreach to diverse student populations.
Since Jordan’s arrival in 2014, SMCM has focused on cost containment and efficiency, allowing it to avoid tuition increases for six years. The current adjustment accounts for inflationary pressures and increased operational costs, while keeping tuition 17% lower in real terms than a decade ago. This approach has strengthened SMCM’s position as an affordable choice for higher education in Maryland.
The Board of Trustees’ approval marks a key step in preparing SMCM for the 2026 fiscal year, which begins July 1, 2025. The budget supports ongoing investments in academic programs, campus infrastructure, and student life, ensuring the college remains a leader in public higher education. The surplus provides a buffer against potential funding disruptions, particularly in research and financial aid.
SMCM’s leadership remains committed to addressing broader challenges in higher education, including debates over accreditation and access. The college’s strategic plan emphasizes equity, sustainability, and academic rigor, positioning it to adapt to evolving demands. The budget reflects these priorities, allocating funds to enhance student support services and maintain small class sizes.
Additional information about the budget and the Board of Trustees’ meeting is accessible on the college’s website. The site offers transparency into SMCM’s financial planning and governance, allowing stakeholders to review the decisions shaping the institution’s future.
