The University of Texas at Austin on Wednesday announced $5 million worth of new financial aid programs specifically designed to help boost the institution's four-year graduation rates.
Bill Powers, the university president, has set an ambitious goal of increasing the four-year rate to 70 percent by 2016. That's up from about 51 percent in 2011.
David Laude, UT's senior vice provost for enrollment and graduation management, said that if the four new pilot programs prove successful, they could alter the institution's entire financial aid strategy.
Currently, much the school's available financial aid funding is used ...