UT launches housing scholarship program to assist low-income students
AUSTIN, Texas - The University of Texas at Austin has launched a first-ever pilot housing scholarship program aiming to assist students from low- and middle-income families.
According to a release from UT, the new program will offer scholarships to offset housing costs by up to $1,800 per academic year who are eligible for free or reduced tuition through Texas Advance Commitment (TAC) and who elect to live in University residence halls.
The scholarship program is part of a larger strategy to address housing affordability at the university.
"We have already made progress in reducing and, income cases, eliminating the cost of tuition for our students who can least afford it," UT Austin president Jay Hartzell said. "Now we are actively working to identify new and more expansive solutions to mitigate the rising cost of Austin's housing market, which has become a more acute financial barrier. This pilot program is the next step in our strategic effort to support our students in new ways."
The scholarship is available for an estimated 3,500 students. Scholarships will be awarded in order of housing application date, with priority given to first-year students.
The University will begin notifying eligible students on April 19.
- Students whose family income is $65,000 a year or less and who receive full tuition benefits through TAC are eligible for a housing award of $1,800 for the 2023-2024 academic year.
- Students whose families make between $65,001 and $125,000 annually and who receive tuition support through TAC are eligible for an award of $900.
- Eligible students may choose any University residence hall, subject to availability.
UT expects to set aside $5.8 million for the 2023-2024 academic year from University housing revenue to fund the program.
Future housing rates for dorms aim to remain consistent with the local market while seeking to maintain rates and lower rates below the market average.
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This new program is the University's latest attempt at accelerating its housing affordability strategy of lowering cost and increasing supply.
In 2021 UT purchased and updated Dobie Tower, adding 778 beds for undergraduates on campus. A graduate student residence hall, which will add 784 beds, is under construction and expected to open in 2024.
According to the release, UT continues to explore new housing on underdeveloped University-owned land, adding capacity to existing residence halls and opportunities to acquire existing housing near campus.