The College of Texas system Board of Regents has established a $300 million endowment to fund tuition help packages utilizing funding from higher-than-expected returns on investments over the previous fiscal yr.
This system, referred to as Promise Plus, will present tuition help to eligible college students at UT Arlington, UT Dallas, UT El Paso, UT Permian Basin, UT Rio Grande Valley, UT San Antonio and UT Tyler. Full-time undergraduates who stay in Texas and qualify for need-based assist are eligible for this system. Particular person establishments may additionally record further eligibility standards.
“We’re dedicated to rising the affordability of a school training for extra Texans by decreasing the out-of-pocket value of a UT diploma for certified college students,” Kevin P. Eltife, chair of the board, mentioned in a press launch. “That is an funding in our college students, in public increased training and the state of Texas.”
The brand new endowment is anticipated to generate $15 million every year.