Students whose families make less than $65,000 a year will be able to attend the University of Texas flagship campus in Austin without having to worry about tuition
To make attending college more affordable for low-income students, the University of Texas System of Board of Regents voted unanimously Tuesday to create a $160 million endowment for financial assistance from the state's Permanent University Fund, according to a news release.The program will take effect in fall 2020.
"This will benefit students of our great state for years to come."The median household income in Texas in 2017 was $59,206, according to the US Census Bureau.Read MoreThe initiative will cover about 8,600 undergraduate students, according to the news release. The Austin campus, ranked No. 15 in public schools by the US News & World Report, has about 41,000 undergraduates.
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