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On June 21, 2004, Sr. Carolina Agravante, SPC was formally installed as the first University President in a solemn but joyful ceremony held in the Marian Hall. In attendance were the academic circle of the city, alumni, members of the University System and the whole Paulinian Family of St. Paul University Iloilo.

School year 2005-2006 marched on with CHED ushered by the awarding of St. Paul University Iloilo College of Nursing as 2nd outstanding College of Nursing in the Philippines out of 350 schools of Nursing. Also included in the top 10 schools were St. Paul University Dumaguete as 7th and St. Paul University Manila as 10th.

The challenge for SPU Iloilo is to establish a contemporary Catholic university culture as she fulfills her mission of making the Father known and loved.