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University of Texas to provide free tuition to families making less than $65,000

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The new endowment will be available beginning in fall 2020.

The University of Texas at Austin is taking a big step to combat the increasing costs of higher education. On July 9, the system's Board of Regents voted to establish a $160 million endowment to help Texas families ease the burden of funding a UT education.

Beginning in fall 2020, the endowment will cover in-state tuition and fees for students from families that earn up to $65,000 a year, or about 8,600 undergraduates a year. (Texas' median income was $59,206 in 2017, according to the most recently available numbers.)

Under the current Texas Advance Commitment, full tuition is only provided to families earning up to $30,000 per year.

Along with covering costs for families making $65,000 or less, the new endowment will provide "tuition support" for families making $125,000 or less, or about 5,700 students.

The $160 million endowment is a distribution of the state’s Permanent University Fund, which "includes money from oil and gas royalties earned on state-owned land in West Texas," according to a release.

“There is no greater engine of social and economic mobility than a college degree, and this initiative ensures that more Texans will benefit from a high-quality UT Austin education," said Chancellor James B. Milliken, in a release.

The decision is undoubtedly a banner one for UT President Gregory Fenves, who has spent the majority of his tenure working on affordability issues. In a release, Fenves echoed Milliken, calling the fund an "invest[ment] in the future of our great state."

“I am grateful to the UT System Board of Regents and Chairman Kevin Eltife for prioritizing students and investing in the future of our great state,” said Fenves. "This new endowment will go a long way toward making our university affordable for talented Texas students from every background and region.”

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population explosion

San Antonio neighbor saw 2nd biggest population boom in U.S. for 2023

City of New Braunfels/Instagram

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The popular Hill Country town of New Braunfels has proven it's not just a top destination for tourists: It's a bustling major suburb of San Antonio, and one of the fastest-growing cities in the nation. New Braunfels experienced the second-highest population boom nationwide from 2022 to 2023, according to a new population growth study by SmartAsset.

The newly released report, "These Cities Saw the Largest Growth in Population – 2024 Study," examined U.S. Census population estimates for 2023, 2022, and 2018 to determine one-year and five-year population changes for 610 U.S. cities with populations of at least 65,000 residents in 2023 (where the most recent data was available).

Silver Spring, Maryland, had the No. 1 biggest population boom from 2022 to 2023, SmartAsset found. The Washington, D.C. suburb grew 12.86 percent year-over-year, bringing the city's total population from 75,313 to 84,996 residents in 2023.

New Braunfels trailed close behind with a 12.49 percent increase in population from 2022 to 2023, which landed it the No. 2 spot in the one-year population change analysis. The city gained 12,318 new residents in that time, adding up to a total population of 110,961 residents in 2023.

This should come as no surprise to those who already live in New Braunfels, who may know their hometown was ranked one of the best cities to move to in 2024.

According to SmartAsset's five-year population comparison, New Braunfels had the eighth highest increase in the country, at 29.68 percent. There were only 85,566 residents living in the Hill Country town in 2018, showing an increase of 25,395 residents within the five-year period.

The report also examined the changes within New Braunfels' working-age population:

Number of working-age residents in 2022 – 48,654
Number of working-age residents in 2023 – 59,340
Percent of population of working age in 2022 – 49.32 percent
Percent of population of working age in 2023 – 53.48 percent
One-year change in the number of working-age residents from 2022 to 2023 – 21.96 percent increase

The report suggested major population shifts in communities like New Braunfels can result in "a variety of interwoven economic and social impacts."

"The magnitude of the population change can affect demand for businesses and services, which in turn may impact costs – or even the availability of such amenities," the report's author wrote. "Similarly, the relative age of the population can determine the strength or weakness of the local job market, as well as have an impact on local culture, economic trajectory, tax base and more."

New Braunfels' location 33 miles northeast of downtown San Antonio, coupled with its close proximity to I-35, makes this city the ideal place for Texans who want to escape the big city noise while and maintain a closer distance to outlying Hill Country towns. The suburb is situated between two major Texas metros, so you're never too far away for a weekend trip in Austin or San Antonio.

Fast-growing cities elsewhere in Texas
Texas cities dominated the top 10 list of cities where population grew the most from 2022 to 2023.

Georgetown, a North Austin suburb, ranked No. 4 with an 11.34 percent one-year population boom, and a 29.85 percent growth rate from 2018 to 2023.

Meanwhile, the Houston suburbs of Atascocita and Conroe ranked No. 5 and No. 9, respectively. Atascocita's total population grew to 119,502 residents in 2023, which represented a 11.03 percent growth rate from 2022, and a whopping 38.56 percent population increase since 2018. Conroe's 6.73 percent one-year population increase paled in comparison, but the city grew 23.49 percent during the five-year period from 2018 to 2023.

The top 10 U.S. cities where population grew the most from 2022 to 2023 are:

No. 1 – Silver Spring, Maryland
No. 2 – New Braunfels, Texas
No. 3 – Glen Burnie, Maryland
No. 4 – Georgetown, Texas
No. 5 – Atascocita, Texas
No. 6 – Pine Hills, Florida
No. 7 – Elgin, Illinois
No. 8 – Lehi, Utah
No. 9 – Conroe, Texas
No. 10 – Dale City, Virginia

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