The Texas University Fund
Growing industries from semiconductors to energy generation have identified a need for more job applicants with advanced degrees. The state has only two institutions that rank in the Top 50 public universities nationwide, the University of Texas and Texas A&M, and they are already busting at the seams.
The Texas University Fund will help support research, faculty, and post-graduate study at four additional universities, ensuring more Texas graduates can fill high-paying jobs that otherwise would need to be filled by out-of-state transplants and workers from abroad.
The $3.5 billion endowment will be created by combining a one-time grant from the state’s budget surplus with the National Research University Fund, interest income from the Economic Stabilization Fund, and charitable contributions.
There are no new taxes and no further cost to taxpayers.
The universities that currently qualify for the Texas University Fund were determined by objective criteria based on research expenditures and doctoral degrees awarded annually, and funds will be distributed on a merit-based system that correlates to each institution’s research expenditures.
The four universities that qualify for the Texas University Fund include Texas Tech University, Texas State University, the University of Houston, and the University of North Texas.
Currently, these universities serve over 160,000 students, and that number grows every year.
As enrollment pressures face both UT and A&M, the constitutional amendment will strengthen Texas Tech, Texas State, University of North Texas, and University of Houston to provide more opportunities for students to earn a high-quality college education here at home and compete for high-paying jobs.
