The University of Tennessee will begin offering free tuition to lower-income students who are residents of the state in the Fall 2020 semester.
Interim President Randy Boyd made the announcement of the “UT Promise” program Thursday. The free tuition is available to students who attend the state school’s campuses in Knoxville, Martin or Chattanooga.
The free tuition applies to those coming from households making under $50,000 per year after various financial aid is applied. Students previously enrolled before the beginning of the program are eligible for the free tuition as well.
Boyd said the university is not “just for the wealthy or the elite,” but, “is a school for everyone,” The Associated Press reported.
Forty-six percent of University of Tennessee students graduate debt-free, according to the university’s announcement. (RELATED: Survey: More Than 50 Percent Of Teens Want Lenders To Forgive $1.5 Trillion In Student Loan Debt)
Pictured is the concept of student debt. SHUTTERSTOCK/ pathdoc
A LendEDU survey found the average debt per borrower at the University of Tennessee for the Class of 2017 was nearly $22,000.
“The University of Tennessee Foundation will simultaneously launch the UT Promise Endowment campaign to help fund this initiative,” the university’s announcement said. “In the interim, the University will cover the cost. This endowment will allow this to truly be a promise and guarantee for years to come.”
The UT Foundation is a nonprofit where private contributions are made to help University of Tennessee students and faculty members.
The University of Tennessee did not immediately respond to The Daily Caller News Foundation’s request for comment.
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