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2h ago

University of Austin Names Jeff Yass as $100 Million Donor, Pledges Permanent Tuition-Free Model

University leaders plan to fund operations with a $300 million, 25-year bridge until alumni giving covers costs.

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

  • The university publicly identified billionaire Jeff Yass as the donor, saying it has received $50 million with the balance to be paid over four years.
  • The announcement includes a promise to never charge tuition and to refuse government funding, a stipulation Yass supports.
  • Leaders said the gift launches a $300 million campaign, with funds invested and spent down as a bridge until alumni philanthropy can sustain the institution.
  • UATX currently enrolls about 150 undergraduates and aims for 400 to 500 students while keeping its downtown Austin footprint and selective test-based admissions thresholds.
  • The school holds candidate status with the Middle States Commission and projects completing its first accreditation cycle between 2028 and 2031, as experts question whether the model can be financially durable.