New $300 million endowment will build on Regents’ continued support of UTPB students and faculty
ODESSA – More students at the University of Texas Permian Basin will have tuition covered thanks to a change in a tuition assistance program.
UT system and university officials announced Tuesday that the new Falcon Free program will cover tuition and fees for students whose adjusted gross household income is $100,000 or less per year.
In West Texas, more than 70% of households have an average income below $100,000.
UTPB’s previous Tuition Assistance Program for Students covered tuition and fees for students whose adjusted gross household income was $60,000 or less per year. UTPB officials report that the change will allow an additional 700 students to benefit from their full tuition.
“I am grateful for UT System’s generous endowment that will make earning a degree from UTPB more accessible than ever,” said UTPB President Sandra Woodley. our region. Students will now have the opportunity to earn a degree from the UT system for free, which will ultimately transform their lives. We look forward to seeing the impact this initiative will have on our community for years to come.”
It was reported on Tuesday that the reason for the change was that the UT System Board had approved the creation of a new $300 million endowment (Promise Plus) to reduce the cost of higher education for students. undergraduates and their families at seven UT academic institutions, including UTPB.
The Promise Plus endowment, which will make distributions to institutions each year, is expected to generate approximately $1 million for UTPB this year, making it comparable to a $22 million endowment that will distribute fee relief funds lifelong schooling. Falcon Free is available to Texas residents pursuing their undergraduate studies on campus or online. Students are automatically considered for Falcon Free funding simply by applying to UTPB and completing the FAFSA/TASFA.
The Promise Plus Endowment funding will be in addition to the $56.8 million the Board has invested in UTPB over the past 10 years alone to help meet the workforce needs of a growing region that is one of the largest centers of oil and gas production. in the world.
In the past decade alone, Regents has contributed more than $39 million to facilities to support education and research at UTPB, including:
– UTPB will cover 100% of tuition and fees for families earning $100,000 or less beginning fall 2022
– Funding is for current students, incoming freshmen, transfer students, and online students
– All students need to do is apply to UTPB and complete their FAFSA/TASFA. The money will automatically be placed in their account
– In West Texas, more than 70% of households have an average income below $100,000.
– To receive funding, you must be a resident of Texas
– For more information, visit: utpb.edu/FalconFree
Source: UTPB
– Construction of the Kinesiology Building to house classrooms, faculty offices, and labs for kinesiology and athletic training majors.
– Construction of an engineering building to provide space for classrooms, teaching laboratories, research efforts, administrative offices, and student support services.
-Improvements and repairs to many other facilities including the STEM Academy Charter School.
In addition to this, the Regents provided $9.6 million to fund additional major repairs and upgrades to buildings, laboratory equipment, as well as the addition of new technologies and improvements to provide a campus critical infrastructure.
The Regents have also allocated $8 million over the past decade to recruit and retain 25 notable UTPB faculty members through the successful STARs (Science and Technology Acquisition and Retention) program. Historically, STAR recipients have generated additional research grants.
Full-time undergraduate students who reside in Texas and are eligible for need-based aid will be eligible to receive Promise Plus funds, which will be used to supplement federal and state aid such as Pell Grants and Grants TEXAS.
