University of Tennessee Interim President Randy Boyd announced Thursday a financial aid program that will provide free tuition to qualifying Tennessee residents enrolling at University of Tennessee campuses located in Knoxville, Chattanooga and Martin.

The program will be called “UT Promise." The announcement was made at the annual State of UT Address held at the Nashville Public Library.

UT Promise is a last-dollar scholarship program that will guarantee free tuition and fees for students with a family household income of under $50,000 and after other financial aid is received.

Students must qualify for the Hope Scholarship and meet the academic qualifications for the institution to be eligible for this new scholarship. To help ensure success, students will be matched with volunteer mentors and will complete four hours of service learning each semester.

“It is critically important that we take a lead role in ensuring students can achieve their dream of obtaining an undergraduate college degree,” Boyd said. “It is our mission and responsibility to do everything we can to ease the financial burden for our middle- and working-class families, and UT Promise is an ideal conduit to achieve that.”

The university said UT Promise's first class will be welcomed in the fall of 2020.

Read more from WBIR's website