At the semiannual meeting of the University of Delaware Board of Trustees on Dec. 10, President Dennis Assanis shared highlights of 2024 and provided a look ahead to new initiatives and opportunities in 2025.

Assanis said the University is building on its strong foundation of excellence and is using innovative pathways to expand academic access to students.

“I continue to be inspired by our great University, our amazing students, talented faculty and our dedicated staff,” he said, noting their many successes. “Everything that we do makes an impact.”

Assanis referred to UD’s outstanding faculty as “our North Star of excellence” and listed some of their prestigious awards and honors. Assanis added that when students are mentored by such dedicated faculty and staff, they thrive and remain on track to graduation. Assanis added that UD's colleges are averaging a first-to-second-year retention rate of 92%, which is two percentage points higher than in the previous cohort year.

Assanis gave special recognition to the mathematical sciences department for leading an effort to improve success in first-year math courses, which serve as a key factor in student retention. “The use of a simple intervention of proctoring their math placement exam has properly placed students in the right course and set them up for success,” said Assanis.

UD’s first-to-second-year retention rate positively influences the four-year graduation rate, which, at 73%, is the ninth highest among public R1 institutions nationwide, said Assanis. “We are three percentage points away from being ranked number six,” so a concerted effort by faculty and staff could push UD higher in the ranking, he said.

Assanis highlighted the academic success of two groups of students: Honors College students and student-athletes, noting the 88% graduation rate of Honors students and the 21 consecutive semesters of student-athletes averaging a 3.0 GPA or better.

Assanis said UD’s strong academic reputation is evident in the growing number of student applications, which are on pace for another record-breaking year. The number of prospective students applying for early action (78% of the entire applicant pool as of Nov. 29) and those applying to the Honors College (44% of the applicant pool) are especially high.

UD is also adding and expanding academic pathways and initiatives that improve student access, including a dual-degree engineering program with Delaware State University, the Return to the Roost initiative that promotes career reskilling and upskilling to alumni and other potential students, and the expanded course offerings for the Winter and Summer sessions.

Also, UD’s reputation as a “research powerhouse” continues to grow. The University’s research enterprise ranks #28 among public institutions for non-medical school expenditures, which is “outstanding,” Assanis said. UD boasts research strengths in multiple fields: life sciences, clean energy, environmental sciences and sustainability, humanities and social sciences, advanced materials, and data science. For example, the University has a bright future in artificial intelligence and is seeking funding to create the First State AI Institute at UD as a way to align multiple initiatives that have emerged recently, said Assanis.

Assanis said he is excited that Building X is nearing completion. “What we have are three transformative fields coming together — models and mechanisms of human disease; mind, brain and behavior; and quantum science and technology — which will produce revolutionary research,” he said.

Turning to the University’s financial challenges, Assanis said progress is being made to reduce the projected budget shortfall, enhance operational efficiency through shared services, address the deferred-maintenance backlog, and increase opportunities for revenue growth. The University is also exploring the feasibility of migrating away from participation in the state health plan and sponsoring its own plans, at hopefully more affordable and predictable rates, in consultation with the Benefits and Cost Containment Committee.

“We have all been working together to turn the corner,” said Assanis, “It’s only when we come together, that we can reach success.”

Assanis noted that 65% of UD’s FY2025 all-funds budget is spent on academics and research, about 14% supports the student experience, and about 21% covers institutional support and operations. He highlighted that employee non-sponsored salaries and benefits cost more than UD’s net revenue from tuition and fees.

The University is projecting a shortfall of $20 million to $45 million in FY2025, which is lower than what was anticipated in the spring when the budget was approved by the Board of Trustees. A large portion of the projected shortfall — about $24 million — is the result of an increase in state health insurance premiums. Assanis highlighted the success of multiple cost-mitigation efforts across the University while financial aid pressures continue to be a challenge.

“I want to reassure everyone that we have worked hard to bridge the gap,” said Assanis. “There is good reason to believe that the final number will be closer to $20 million, if we all continue to work together.”

Assanis said the University is looking ahead to increasing revenue from a variety of sources and managing cost increases in the FY2026 budget. “Having a growth mindset will continue to depend on everyone’s ideas,” he said.