The Texas A&M Board of Regents announced last week it would consider a $100 million scholarship fund to “assist System Academic Institutions reflect the demographics of the state of Texas.”
Today it approved the plan.
The fund is intended to “address diversity issues as well as concerns of students who are first-generation and/or from low-income families in the wake of economic uncertainty associated with COVID-19.”
In March, the board announced a fund to help those affected by COVID-19, specifically.
Over the next 10 years, the fund will distribute $10 million each year to students of low-income and minority backgrounds. Each campus institution will partake in fundraising to finance the initiative.
Texas A&M System Chancellor John Sharp said the goal of the program is to make A&M’s system “look more like Texas.”
The university says that although its system-wide attendance only differs a few percentage points from the state demographics, some of its institutions vary more.
He further added, “Too often we are getting outbid for great kids by out-of-state schools that can make larger offers.”
“We don’t intend to lose underrepresented students to them without a real serious fight.”
The A&M system operates 11 universities and numerous other institutions across the state and has a $6.3 billion annual budget. In 2019, the school states, it spent over $1 billion in research and development.
Last year, the 86th Legislature appropriated over $90 million in new funding to the A&M system for the 2020-2021 biennium.
Sharp called it “the best financial session that Texas A&M has ever had.”
Last year, tuition plus room and board at Texas A&M approximated $28,000 per year per student. That total varies on its satellite campuses. About 151,000 students attend universities within the system.
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Brad Johnson is an Ohio native who graduated from the University of Cincinnati in 2017. He is an avid sports fan who most enjoys watching his favorite teams continue their title drought throughout his cognizant lifetime. In his free time, you may find Brad watching and quoting Monty Python productions.