TYLER, Texas (KETK) – Regents approved a $100 million allocation to support the UT Tyler School of Medicine to make immediate impact and growth.
“There is no bigger driver for our community than a new medical school. It is the trickle down effect to all kinds of jobs and new research and physicians. It is a big economic driver for the entire Northeast Texas part of the state. And once again, there is a need for health care professionals in rural East Texas. It helps with that, and most importantly, it helps families and students who want to pursue their career in medicine, stay right here at home and give students a chance to do this work otherwise might not be able to afford it.”Kevin P. Eltife – Chairman of the UT System Board of Regents
The University of Texas Board of Regents approved an allocation of $100 million in Permanent University Fund (PUF) bond proceeds over the next 10 years that will help fund capital expenses associated with the start up of the Tyler School of Medicine at the University of Texas at Tyler.
“The opportunity to the regents to invest again in this once-in-a-generation opportunity to improve the quality of life and health for the people of East Texas is gratifying. We are equally as focused on the future of the medical school as we are on the present, and we enthusiastically await the arrival of the first class of medical students in Tyler next summer.”Kevin P. Eltife – Chairman of the UT System Board of Regents
“Honestly, the $200 million we approved today is a $10 million a year allocation as the permanent university fund, it will go for capital product projects. Over the next 10 years, it’s just an additional 10 million a year to help get the medical school up and running. And that coupled with our commitment at the Board of Regents to build the building and fund the building will help get the medical school built on the ground, a class in 2023 and be an incredible economic driver for this part of the state and do so much for students who want to further their medical career right here in East Texas.”Kevin P. Eltife – Chairman of UT System Board of Regents
Capital projects funded over the next decade will ensure the new medical school has the right environment in place to draw and retain exceptional medial school faculty and students as well as enhance biomedical research and core residency programs, according to Thursday’s press release.
“We’ve already received two incredible donations, one from the fair Foundation. And another one was just recently announced that the first two classes that go to the medical school will pay tuition and fee free for their entire four years. So that that’s a $4 million donation from the fair foundation and another $4 million donation and we’re going to continue to work on building an endowment to provide tuition assistance and fees assistance for these students. So that’s a goal of ours going forward.”Kevin P. Eltife – Chairman of UT System Board of Regents
“The UT Tyler community and I express profound gratitude to the regents for consistently and generously ensuring that our new medical school is poised for the most successful launch imaginable,” said UT Tyler President Kirk Calhoun, MD.