U Austin Announces $100M Gift, End to Tuition “Forever”

The University of Austin accepted its first class of students last fall. It says it won’t charge tuition.

Jay Janner/The Austin American-Statesman/Getty Images

The University of Austin announced Wednesday that Republican megadonor Jeff Yass is donating $100 million, it’s “ending tuition forever” and it will also “never take government money.” At the same time, it said Yass’s gift represents the first third of “a $300 million campaign to build a university that sets students free.”

University president Carlos Carvalho told Inside Higher Ed he doesn’t plan for this $300 million to become an endowment meant to last forever. Instead, he said it will be invested but spent down as a “bridge” until the institution produces enough donating alumni to keep tuition free. He estimated this will t