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University of Texas at Austin to Grant Full Scholarships to Some In-State Students

A $160 million endowment created Tuesday will give some students full scholarships starting in fall 2020.

All in-state students at University of Texas at Austin who come from families making less than $65,000 a year will be awarded with full scholarships starting in fall 2020, The Austin American-Statesman reports. A $160 million endowment created on Tuesday will also allow in-state students with a family income of $125,000 or less to be given tuition assistance on top of existing federal and state aid programs. Over 14,000 students are expected to benefit. “[T]his new endowment will go a long way toward making our university affordable for talented Texas students from every background and region,” UT President Gregory L. Fenves said in a statement. Most of the money reportedly comes from the UT System’s endowment of “oil and gas royalties,” which totals $22.3 billion. While out-of-state and graduate students rallied for similar assistance earlier this year, they are not eligible for the endowment’s benefits.