BANGOR -- Maine's public universities will offer more three-year bachelor's degrees, boost the number of students enrolled in online courses and health care-related programs, and try to price themselves right to attract more students.

All are goals the 45,000-student University of Maine System will pursue under a major restructuring plan university trustees unanimously approved Monday.

The plan outlines a number of cost-cutting initiatives, as well as investments university officials hope will ultimately result in more streamlined operations and additional revenues.

"We don't want to focus only on cost cutting," University of Maine System Chancellor Richard Pattenaude told trustees. "We want to talk about bringing new programs on board. Those help strengthen our universities."

The restructuring effort began last year, when University of Maine System officials predicted a budget deficit that would grow to $43 million by the fall of 2012. The plan trustees approved Monday fills that gap, Pattenaude said.

The plan, he said, also addresses some of the more immediate financial pressures the universities face.

"The plan accomplishes that with the same actions, but with greater intensity and depth," he said. Revenue shortfalls "will add some urgency."

University trustees passed the restructuring initiative as state revenues continue to fall short of projections, requiring short- and long-term cutbacks. Finance Commissioner Ryan Low said last week that slumping state revenues would create a $300 million to $400 million hole in the state's current $5.8 billion, two-year budget.

Maine's seven university campuses are expected to absorb at least $7.5 million in cuts -- and maybe more -- to their current academic year budgets as part of a statewide spending curtailment.

In the short-term, Pattenaude told legislators last month, revenue shortfalls will likely force Maine's universities to cut 100 staff and teaching positions starting in January. That will force a number of course cancellations, he said.

"We're asking for some relief from that," Pattenaude told reporters Monday. "Absorbing a $7.5 million reduction over a six- to seven-month period is very, very challenging.

"We're asking for relief in those areas that hurt students the most," he added. "I would say we're more hopeful than confident."

In discussions Monday, University of Maine System trustees said they supported many of the initiatives contained in the system's long-term restructuring plan.

"Crisis is often necessary to provide the window to make the changes to address fundamental problems," said Lyndel Wishcamper, of Freeport, the board of trustees chairman.

The restructuring calls on the state's universities to specialize in academic programs that match the state's economic development priorities.

For example, the plan sets a goal of boosting by 20 percent the number of graduates in health care-related programs by 2011. The plan also calls on the universities to develop a systemwide alternative-energy education and research program by September 2010.

To make academic degrees more affordable and to attract new students, the University of Maine System is planning to expand access to online courses and develop ways for students to complete bachelor's degree programs in three years.

The university network will also conduct a market study to determine how best to price tuition to attract students, both in-state and out-of-state.

Pattenaude said university officials are also working with the Maine Community College System to encourage more community college students to transfer to university campuses to pursue bachelor's degrees.

"Although we want to retain, we also need to bring in new students," said Marjorie Medd, a trustee from Norway.

Cost-cutting initiatives include freezing some salaries and reducing the number of classes and academic programs with low enrollments.

"We do have to reduce our costs and meet our bottom line," Pattenaude said.

At the same time, university officials say they need to have funds to support new ideas on the seven university campuses, including new academic programs and new technology purchases.

That's why the restructuring plan creates a strategic investment fund that will start this year at $1 million and grow to $5.3 million by the 2012-13 academic year.

"Come hard financial times, that's where people will tend to pull back," said Norman Fournier, a trustee from Wallagrass. "You need at least some funding to do strategic investment. I'm glad to see we're sticking to our guns, to move the system forward, to look at things differently."

Matthew Stone -- 623-3811, ext. 435

mstone@centralmaine.com