Tuesday, July 9, 2019
UT Austin President Gregory L. Fenves announced today that the UT System Board of Regents voted unanimously to establish a $160 million endowment to expand financial aid for middle- and low-income UT Austin students beginning next year. The Texas Advance Commitment will cover the complete cost of tution for in-state undergraduate students from families that earn up to $65,000 per year beginning in the fall of 2020. Students from families with incomes of up to $125,000 will also receive some amount of assured finanicial aid.
"This action by the Board of Regents is an investment in the future of our students. It is also one of the largest commitments ever made to improving college affordability among the nation’s leading public research universities," Fenves noted in the announcement. "I thank the Board of Regents for their decision today. And I am especially grateful to Chairman Eltife for prioritizing Texas students."
"This is an important day for The University of Texas at Austin. You should be proud. I couldn’t be prouder," said Fenves.
For more information, read the UT News article here.