The University of Texas system board of regents voted Tuesday to establish a $160 million dollar endowment to increase tuition assistance for students from low and middle income families.

After the UT vote, the Texas A&M system and the flagship campus issued statements reminding the media similar programs have been available since 2011.

System chancellor John Sharp told WTAW News "We congratulate 'em (referring to the University of Texas) on what they've done, but since 2011 Texas A&M has had the Aggie Assurance Program, which covers the tuition for all students whose families’ have an adjusted gross income of $60,000 or less. Last year, it paid the tuition for nearly 7,000 students.

Sharp went on to say "in April 2018, we instituted the A&M university system regents grants, which set aside $30 million to provide undergraduates with one-time grants that had unforeseen financial hardships. And that allows students (from families) with adjusted gross incomes between $40,000 and $100,000 dollars."

Funding for these financial assistance programs comes from state's Permanent University Fund (PUF), which is revenue generated from land in west Texas set aside for leasing to oil and gas companies and other activities. The Texas constitution stipulates that The University of Texas system gets two-thirds of the benefits of the PUF and the Texas A&M system gets one-third.

The chancellor says the A&M system board of regents will review the legislature's appropriation to the Available University Fund (AUF), which comes from PUF investment returns,

Texas A&M president Michael Young added the following statement: “It is important for Texans to have better access to public education. I applaud The University of Texas for following our lead.”