The University of Texas at Austin is expecting to provide free college education to students whose families earn less than $65,000 per year.
On Tuesday, the UT Board of Regents voted to approve $160 million distribution from its endowment, which officials believe will allow the school to cover the cost of tuition for students whose families earn less than $65,000 per year, beginning in 2020. According to the Texas Tribune, the university believes 8,600 students will have their tuition fully covered by the plan, while an additional 5,700 students are expected to receive financial aid from the expenditure. However, the tuition reductions will not cover the cost of living expenses for students.
Tuition and fees for the most recent school year were estimated at $10,314, the Tribune reported.
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