Jeff Yass Donates $100 Million to University of Austin for Free Tuition

Major Donation Announced by University of Austin

Jeff Yass has donated $100 million to the University of Austin to provide permanent free tuition for enrolled students. The university announced the gift last month and identified Yass as the donor in a Wednesday news release. According to the university, the funding will support long-term tuition coverage without the use of government funds.

Conditions and Funding Structure Outlined

Yass, co-founder of the Pennsylvania-based Susquehanna International Group, stated that his requirement for the donation is that the University of Austin never accept government funding. The university reported that the donation initiates a $300 million campaign. It has already received $50 million from Yass, with additional contributions scheduled to arrive over the next four years.

University Expansion and Academic Program Details

The University of Austin launched in 2021 and welcomed its first undergraduate class in 2024. The institution offers a four-year bachelor of arts degree in liberal studies at its downtown Austin campus. The school provides automatic admission to applicants who reach high standardized test score benchmarks.

President Carlos Carvalho stated that the university currently enrolls approximately 150 students in its first two classes. He said the institution plans to grow to 400 to 500 students. Carvalho noted that the university intends to remain in its downtown space rather than construct a traditional campus. He said the tuition-free model will rely on philanthropy and future alumni contributions.

Context of State Education Funding

Yass has donated $10 million to Texas Governor Greg Abbott over the past two years. Texas lawmakers passed a $1 billion voucher program in April. Nearby, the University of Texas at Austin is considering a federal agreement that would link funding to federal priorities on campus speech, gender definitions, and admissions.