EL PASO, Texas (KTSM) -- The University of Texas System is expanding its free tuition program to undergraduate students whose families make $100,000 or less beginning next fall. On Wednesday, the University of Texas System Board of Regents' Academic Affairs Committee gave its preliminary approval, with a final vote expected to take place by the full board on Thursday. Once approved, the system will send $35 million directly to its nine academic institutions to support the expansion. Students must be Texas residents enrolled full-time in an undergraduate program and apply for applicable state and financial aid to qualify. Kevin P. Eltife, chairman of the Board of Regents, described Wednesday's action as one of the most meaningful and rewarding actions the Regents would ever undertake during their terms. "To be in a position to make sure our students can attend a UT institution without accruing more debt is very important to all of us, and as long as we are here, we will continue our work to provide an affordable, accessible education to all who choose to attend a UT institution," said Eltife. The expansion is the latest move by the regents to make college more affordable for students. In 2019, the regents established a $167 million endowment at the University of Texas at Austin to cover tuition and fees for in-state undergraduate students whose families make less than $65,000. It also provided tuition support to students from families who made under $125,000. Three years later, regents created the Promise Plus Program with a $300 million endowment fund to help other UT System universities expand their existing financial aid programs. UTEP was able to increase no-cost tuition opportunities to 450 additional students in 2022 over 2021, and it raised the threshold of eligibility from $60,000 to $75,000, reaching 75 percent of households in the region. The $35 million campus investment will come from endowment distributions, the Available University Fund — investment returns from a state fund that provides money from the UT System — and other resources, the system said in a press release. The money will immediately expand the number of UT system students who will receive free tuition and fees next year, and also ensure the Promise Plus program is supported in perpetuity. "Across UT institutions, enrollment is growing, and student debt is declining, indicating success in both access and affordability," said UT System Chancellor James B. Milliken. "That’s a rare trend in American higher education, and I’m proud the UT System is in a position to be a leader.” According to the UT System, since launching the original free tuition program, the percentage of UT System graduates with debt has declined from 54 percent in 2019 to 48 percent in 2023.