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Jeff Yass Gives $100 Million as University of Austin Ends Tuition and Rejects Government Funding

The gift launches a $300 million campaign that finances a spend‑down bridge toward sustainability during the school’s accreditation bid.

The University of Austin campus in downtown Austin on Nov. 8, 2023. The private school received a $100 million donation from billionaire Jeff Yass to offer free tuition permanently to its students.
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Overview

  • UATX says it will offer free tuition permanently and will not accept government money, framing the policy as central to its mission.
  • The university identifies Yass’s donation as the first third of a $300 million campaign and says $50 million has been received with the remainder expected over four years.
  • President Carlos Carvalho says the campaign will be invested and spent down over roughly 25 years until alumni giving can support ongoing operations.
  • The institution remains unaccredited but is state‑approved to grant a liberal studies bachelor’s degree and holds candidate status with the Middle States accreditor, with completion of its first accreditation cycle expected between 2028 and 2031.
  • Enrollment is about 150 students across the first two cohorts, with plans to grow to roughly 400–500 and remain in the current downtown Austin footprint.