Apparently, the leftist calling card of free college tuition has made inroads at the University of Texas-Austin, the flagship campus of the state’s university system. Beginning next year, in the fall 2020 semester, in-state undergraduate students will receive free tuition, provided their families make up to $65,000 per year in earnings.
UT-Austin President Gregory L. Fenves outlined the financial aid plan in a letter, which also added that students with financial need from families earning up to $125,000 per year can receive “assured financial aid.”
But it begs the question, how could the university pay for this program? From the letter, Fenves wrote that the Board of Regents for the university system voted to “establish a $160 million endowment for middle-and-low-income UT Austin students beginning next year.” This program is a part of the university’s expansion of its Texas Advance Commitment program, which focuses on making college more affordable.
According to data that the university collected, at least half of Texas families earned less than $60,000 in 2017. College tuition at many universities exceed that level of yearly earnings, at least among private universities, and it is important to note that tenured professors (specifically, law school professors at large universities) tend to earn more than $60,000 per year in earnings.
The Star-Telegram newspaper reported that the estimated cost of tuition and fees for UT-Austin is between $10,314-$11,852 for fall and spring semesters, but the total cost of attendance is between $27,218-$28,756.