Two Programs Agree on the Benefits of Higher Education

An innovative tuition program at the University of Texas Pan America embodies the concept that higher education must be a universal asset. This fall the University of Texas Pan America will begin the UTPAdvantage, offering free tuition. The program will cover the costs of tuition for University of Texas Pan America students with a combined annual family income below $25,000.

Aside from emphasizing educational access, UTPAdvantage will hold participants to high academic standards. Passing letter grades in a designated number of classes and maintaining fifteen or more credit hours per semester define eligibility. These requirements encourage students not only to graduate on time but also to do so with high academic standing.

UTPAdvantage emulates the Sargent Shriver Center National Center on Poverty Law’s mission to create financial security through asset building. Similar to UTPAdvantage, the Shriver Center’s Children’s Savings Account program embraces the principle that every child deserves the opportunity to go to college.

Children’s Savings Accounts will provide all Illinois children with designated assets at birth; the assets will grow over time as an investment. Despite negative financial, job, or relationship circumstances, children upon turning 18 will have the choice of using their investment toward college or vocational school, placing a down payment on a home, or starting their own business. All children, regardless of economic background, may choose their own direction as they take on the responsibilities of adulthood.  The benefits that individuals and communities obtain by sending children to college are worth the financial cost, or so UTP Advantage and Children’s Savings Accounts agree.

Both programs support the idea that higher education degrees ultimately retain value, just as monetary assets do. Not only do asset building and tuition assistance programs offer opportunities for the individual, but also they create an educated workforce for the region. An increase in the educated workforce means more jobs and innovation, more savings and investment, stronger communities, and a thriving economy.

The message is clear—poverty and insufficient resources should not be barriers to higher education. UTPAdvantage and Children’s Savings Accounts are accompanied by several national college tuition and asset-building programs that both create awareness and take action.

For more information on Children’s Savings Accounts, contact Dory Rand at doryrand@povertylaw.org. See also the UTPAdvantage website, AssetBuilding.org, and Kentucky's Cradle to College website.