Endowment:
The University receives income from an endowment known as the Permanent University Fund. With $6.95 billion (US) in assets as of May 31, 2003, some might regard UT as a wealthy university, as its endowment is larger than any other U.S. university save Harvard or Yale. However, this money is spread throughout the University of Texas system and one third of the income goes to the Texas A&M system. Other Texas universities outside these two systems are prohibited by law from sharing in the income from this endowment. Even the portion left for UT Austin is much smaller on a per student basis, since UT has many more students than most universities.

The Main Building Tower:
One of the University's most visible features is its Main Building [11] (http://www.utexas.edu/tours/mainbuilding/), a 307-foot tower completed in 1937, located in the middle of campus and gracing Austin's downtown skyline. Although city law prohibits buildings to be taller than the Texas State Capitol, Main Building is on higher ground and is taller than the Capitol.

The tower is normally lit in white light, but is lit orange for various occasions, including athletic victories and academic accomplishments, such as commencement. Also, the Tower is darkened for solemn occasions. [12] (http://www.utexas.edu/opa/pubs/oncampus/02oc_issues/oc020129/oc_tower.html)

At the top of the tower is a carillon of 56 bells, the largest in Texas. Songs are played every Monday, Wednesday, and Friday at 12:50 pm local time in addition to the usual pealing of the bells every quarter hour.On August 1, 1966, Charles Whitman barricaded himself in the observation deck of the tower with a sniper rifle and other weapons, killed 14 Austin residents, and wounded more. The observation deck was closed until 1968, and then closed again in 1975 following a series of suicide jumps during the 1970s.

Sports:
The men's sports teams are called the Longhorns, and the women are the Lady Longhorns. A charter member of the Southwest Conference until its dissolution in 1996, Texas now competes in the Big 12 Conference (South Division) of the NCAA's Division I-A.

The University has traditionally been considered a football powerhouse; the football team frequently ranks in the top 10. In recent years the basketball team has gained prominence. In 2003, the basketball team advanced to the NCAA Tournament Final Four round, and in 2004 advanced to the Sweet Sixteen round.

Distinguished alumni: