AUSTIN (KXAN) — The University of Texas Board of Regents are moving forward with a plan to keep costs low for students. On Thursday, they approved a proposal to not raise tuition for in-state students.
Each of the 12 UT schools charge different tuition but the average is $4,969 per semester. Regents say they will tap into their $6 billion endowment to cover additional costs.
While this is a step in the right direction, many parents say paying for college is still a burden.
“Oh my goodness, it’s so much more expensive now,” says a UT mother, Denise Greenberger.
“I remember when I got out of school in four years, four-ish years, I owed $2,300 in student loans, for my entire education,” says UT father, Kyle Hamilton. He says those days are long gone. “University like UT, a premier institution, is going to be out of reach to a lot of people in generations past would have been able to come here.”
David Gardner, Texas Higher Education’s Deputy Commissioner for academic planning policy, agrees this is positive for students, but says changes need to be made statewide to make college more affordable. The Texas Higher Education Coordinating Board is working on a plan to lower student debt and get more students in the classroom by the year 2030.
“If a student has prepared themselves adequately, they should be able to go to college regardless of the cost,” said Gardner. “We want Texas to be competitive not just nationally but internationally and to do that we need a more educated population than we do now.”
According to the Texas Higher Education Coordinating Board our state actually has a small debt compared to other states. The average debt per student is about $26,000. Nearly 60 percent of students have debt when they leave school.