What it'll cost to go to UT Austin with tuition increase

AUSTIN, Texas (KTRK) -- The University of Texas announced it will be increasing undergraduate tuition at UT Austin for the next two years, according to the school's president.

The UT System approved the 2.6% per year increase Thursday.

The tuition increases are for resident and non-resident undergraduate students. Resident undergraduate tuition, according to UT, currently averages $5,440 per semester. That price will go up by an average of $143 per semester in 2020-21 and $146 per semester in 2021-22.

UT says the tuition for most master's and doctoral programs will not be increased for the next two years.

The Board of Regents also approved a "differential tuition charge" for undergraduate degree programs in the McCombs School of Business, the Cockrell School of Engineering and the College of Natural Sciences.

"At UT, we are committed to living up to our constitutional charge to be a university of the first class," said president Gregory Fenves in a letter posted on UT's website. "That means balancing affordability with the costs of delivering high quality education at one of the finest public research universities in the world. The increases in tuition will be used to help us improve UT - now and in the years ahead."

To view the tuition changes, click here.

RELATED: University of Texas promises free tuition to students with families earning up to $65K

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Beginning in fall 2020, students admitted to the University of Texas from middle and low-income families will be given full scholarships.

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