UT System expands free tuition program
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The University of Texas System will waive tuition costs for students from families earning $100,000 or less beginning next fall.
Why it matters: The plan includes an immediate infusion of $35 million to the nine campuses, making the UT System the first in Texas and one of the first in the country to offer such a sweeping financial aid benefit, UT System officials said.
Driving the news: UT's Board of Regents took a final vote Thursday to fully cover tuition and other mandatory fees for qualifying in-state undergraduate students at any of the system's nine academic institutions.
What they're saying: "To be in a position to make sure our students can attend a UT institution without accruing more debt is very important to all of us, and as long as we are here, we will continue our work to provide an affordable, accessible education to all who choose to attend a UT institution," Board of Regents chairman Kevin Eltife said in a statement.
Catch up quick: Currently, the UT System covers tuition for students whose families' annual household income is $65,000 or less and tuition support for students whose families earn $125,000 or less.
Zoom in: Over 90% of UT Rio Grande Valley undergraduates who live in Texas are currently covered by the program.
- "Across UT institutions, enrollment is growing, and student debt is declining, indicating success in both access and affordability," UT System Chancellor James Milliken said. "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 intrigue: UT System officials say the average student debt at its institutions has declined in the past five years with the help of the free tuition program, and it's 10% lower on average than other Texas public four-year universities.
- The percentage of UT graduates with debt has declined from 53.6% in 2019 to 47.8% last year, according to UT System officials.