On Wednesday, the University of Texas System announced that students whose families earn less than $100,000 a year will be eligible for free tuition and discounted fees. If approved Thursday, the initiative would take effect the following fall.
In the past, the board decided to provide free tuition to undergraduates whose families had $65,000 or less in adjusted gross income. The system’s Promise Plus Program, a need-based financial aid program designed to assist students with financial difficulties in attending college, includes Wednesday’s step to increase eligibility.
“What is particularly gratifying to me, and to UT presidents, is that the Regents are not only addressing immediate needs of our current students, but they are taking the long view, ensuring that future generations will continue to benefit from this remarkable program,” UT System Chancellor James B. Milliken stated.
“Across UT institutions, enrollment is growing, and student debt is declining, indicating success in both access and affordability. That’s a rare trend in American higher education, and I’m proud the UT System is in a position to be a leader.”
The plan will be formally put to a vote by the entire board on Thursday. The program’s expansion includes a $35 million investment that will fund the effort directly on campuses. According to the press release, the investment is derived from the Available University Fund, endowment dividends, and other sources.
Students enrolled in any of the nine universities in the system, including Stephen F. Austin State University, UT Austin, and UT Dallas, are eligible for the program.
According to the UT website, UT Austin projected that tuition for the 2024 academic year will be between $10,858 and $13,576 for in-state students and $40,582 and $48,712 for out-of-state students.
The website states that housing and transportation expenses are usually higher for in-state students than tuition.
Governor Greg Abbott declared last week that he would oppose raising tuition at public colleges and universities for the ensuing two years.
Read Also: Two Missouri Teens Dead After Suspect Fleeing Police Crashes with Kidnapped Infant in Car
The board stated that in addition to lowering tuition, this will assist in lowering student loan burden for UT System students. According to Board of Regents Chairman Kevin P. Eltife, the system is concerned with reducing student debt and improving overall affordability.
“By making both immediate campus allocations as we did today, as well as continued long-term investments in our Promise Plus endowments, we want hard-working Texas families and students to know that we will do everything in our power to support their higher education aspirations today and always,” Eltife stated.
