This is a MuniPro demonstration of a redesigned Texas Bond Review Board website. It is not the official BRB site: nothing filed here reaches BRB, and the email addresses shown are BRB's own.

The official site is brb.texas.gov.

State issuer

Texas A&M University System

$5,444,341,019 of principal outstanding on 38 issues at the end of fiscal year 2025.

Principal outstanding
$5.4 billion
Fiscal year 2025

$5,444,341,019

Interest still to be paid
$2.2 billion
Fiscal year 2025

$2,154,533,603

Total debt service outstanding
$7.6 billion
Fiscal year 2025

$7,598,874,622

Issues outstanding
38
Fiscal year 2025

Debt outstanding

Fiscal year 2025

Revenue supported
$5,444,341,01938 issues
Total outstanding
$5,444,341,01938 issues

Calculated by this site from the 38 issues below.

Debt issued

Fiscal year 2025

Revenue supported
$379,080,0001 issue
Total issued
$379,080,0001 issue

Calculated by this site from the par of the 1 issue issued in fiscal year 2025.

Debt outstanding by fiscal year

Fiscal years 2016 to 2025

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Principal outstanding at each fiscal year end, 2016 to 2025

Figures in the table below

Fiscal year?Principal?Interest?Total debt service?Issues?
Fiscal year2025 LatestPrincipal$5,444,341,019Interest$2,154,533,603Total debt service$7,598,874,622Issues38
Fiscal year2024Principal$5,492,435,785Interest$2,150,036,746Total debt service$7,642,472,533Issues40
Fiscal year2023Principal$5,103,614,227Interest$1,979,016,797Total debt service$7,082,631,024Issues37
Fiscal year2022Principal$5,169,492,540Interest$2,059,800,560Total debt service$7,229,293,100Issues37
Fiscal year2021Principal$5,001,560,162Interest$2,067,982,343Total debt service$7,069,542,507Issues36
Fiscal year2020Principal$4,803,637,808Interest$2,059,917,810Total debt service$6,863,555,619Issues36
Fiscal year2019Principal$4,609,637,572Interest$1,979,277,129Total debt service$6,588,914,701Issues36
Fiscal year2018Principal$4,459,772,513Interest$2,050,798,219Total debt service$6,510,570,732Issues36
Fiscal year2017Principal$4,097,590,812Interest$1,774,148,949Total debt service$5,871,739,760Issues31
Fiscal year2016Principal$3,394,857,000Interest$1,655,443,050Total debt service$5,050,300,050Issues27

Issues outstanding, fiscal year 2025

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Issuance name?Pledge?Maturity date?Principal?Scheduled interest?Total payment?Closed?Purpose?
Issuance nameRFS Bonds Ser 2024A PledgeRevenue supportedMaturity date5/15/2042Principal$398,060,000Scheduled interest$198,912,431Total payment$596,972,431Closed5/30/2024PurposeSchool facilities and equipment
Issuance nameRFS Bonds Tax Ser 2019B PledgeRevenue supportedMaturity date5/15/2049Principal$381,960,000Scheduled interest$143,611,601Total payment$525,571,601Closed8/14/2019PurposeSchool facilities and equipment
Issuance namePUF Bonds Ser 2025A PledgeRevenue supportedMaturity date7/1/2054Principal$376,110,000Scheduled interest$235,232,750Total payment$611,342,750Closed4/16/2025PurposeRefunding
Issuance namePUF Bonds Txbl Ser 2019 PledgeRevenue supportedMaturity date7/1/2049Principal$333,190,000Scheduled interest$186,731,788Total payment$519,921,788Closed12/17/2019PurposeSchool facilities and equipment
Issuance namePUF Txbl Series 2017B Bonds PledgeRevenue supportedMaturity date7/1/2047Principal$310,220,000Scheduled interest$189,033,677Total payment$499,253,677Closed10/31/2017PurposeSchool facilities and equipment
Issuance nameTAMU RFS CP Tax-exempt Ser B & Taxable Ser B (05/15) PledgeRevenue supportedMaturity date8/1/2037Principal$299,487,000Scheduled interest$155,105,250Total payment$454,592,250ClosedNot reportedPurposeNot reported
Issuance nameRFS Bonds, Series 2017E PledgeRevenue supportedMaturity date5/15/2057Principal$275,415,000Scheduled interest$99,592,750Total payment$375,007,750Closed12/20/2017PurposeSchool facilities and equipment
Issuance nameRight-to-Use Assets Building, Equipment, Land and Subscription-Based Info Tech Arrangements (GASB 87 and 96 Leases) PledgeRevenue supportedMaturity date8/31/2049Principal$246,311,341Scheduled interest$42,922,621Total payment$289,233,962ClosedNot reportedPurposeNot reported
Issuance nameRFS Bonds, Taxable Series 2016B PledgeRevenue supportedMaturity date5/15/2045Principal$235,775,000Scheduled interest$89,425,946Total payment$325,200,946Closed4/12/2016PurposeSchool facilities and equipment
Issuance namePUF Bonds Ser 2023 PledgeRevenue supportedMaturity date7/1/2042Principal$223,815,000Scheduled interest$113,666,500Total payment$337,481,500Closed3/9/2023PurposeSchool facilities and equipment
Issuance nameRFS Bonds Txbl Ser 2021B PledgeRevenue supportedMaturity date5/15/2048Principal$194,500,000Scheduled interest$57,211,403Total payment$251,711,403Closed4/7/2021PurposeSchool facilities and equipment
Issuance nameRFS Bonds Ser 2022 PledgeRevenue supportedMaturity date5/15/2052Principal$187,340,000Scheduled interest$103,636,707Total payment$290,976,707Closed10/18/2022PurposeSchool facilities and equipment
Issuance nameRFS Rev Bonds, Series 2017A (Taxable) PledgeRevenue supportedMaturity date5/15/2032Principal$184,050,000Scheduled interest$25,236,795Total payment$209,286,795Closed1/31/2017PurposeSchool facilities and equipment
Issuance nameRFS Rev Bonds, Series 2017B (Taxable) PledgeRevenue supportedMaturity date5/15/2022Principal$182,800,000Scheduled interest$21,013,936Total payment$203,813,936Closed6/21/2017PurposeSchool facilities and equipment
Issuance nameRFS Bonds Tax Ser 2019A PledgeRevenue supportedMaturity date5/15/2048Principal$170,570,000Scheduled interest$66,380,681Total payment$236,950,681Closed1/29/2019PurposeSchool facilities and equipment
Issuance nameRFS Bonds Ser 2021A PledgeRevenue supportedMaturity date5/15/2051Principal$169,900,000Scheduled interest$60,286,583Total payment$230,186,583Closed4/6/2021PurposeSchool facilities and equipment
Issuance nameRFS Bonds Txbl Ser 2020A PledgeRevenue supportedMaturity date5/15/2047Principal$132,520,000Scheduled interest$38,889,942Total payment$171,409,942Closed7/30/2020PurposeSchool facilities and equipment
Issuance nameRFS Bonds, Series 2017D (Taxable) PledgeRevenue supportedMaturity date5/15/2047Principal$127,345,000Scheduled interest$55,080,649Total payment$182,425,649Closed12/20/2017PurposeRefunding
Issuance namePUF CP Ser A PledgeRevenue supportedMaturity date8/1/2037Principal$125,000,000Scheduled interest$33,158,997Total payment$158,158,997ClosedNot reportedPurposeNot reported
Issuance nameRFS Bonds, Series 2016C PledgeRevenue supportedMaturity date5/15/2040Principal$115,425,000Scheduled interest$27,484,800Total payment$142,909,800Closed7/20/2016PurposeRefunding
Issuance nameRFS Bonds, Taxable Series 2016D PledgeRevenue supportedMaturity date5/15/2029Principal$113,315,000Scheduled interest$27,685,113Total payment$141,000,113Closed7/20/2016PurposeSchool facilities and equipment
Issuance namePUF Bonds Ser 2015B PledgeRevenue supportedMaturity date7/1/2036Principal$77,685,000Scheduled interest$14,141,664Total payment$91,826,664Closed4/23/2015PurposeSchool facilities and equipment
Issuance namePUF Series 2017A Bonds PledgeRevenue supportedMaturity date7/1/2047Principal$70,865,000Scheduled interest$21,385,031Total payment$92,250,031Closed10/31/2017PurposeRefunding
Issuance nameRFS Bonds, Series 2016E PledgeRevenue supportedMaturity date5/15/2035Principal$70,840,000Scheduled interest$8,468,150Total payment$79,308,150Closed7/20/2016PurposeRefunding
Issuance nameRFS Rev Bonds, Series 2017C PledgeRevenue supportedMaturity date5/15/2039Principal$68,210,000Scheduled interest$20,789,075Total payment$88,999,075Closed6/21/2017PurposeRefunding
Issuance nameRFS Bonds Taxable Ser 2015D PledgeRevenue supportedMaturity date5/15/2045Principal$51,595,000Scheduled interest$24,368,095Total payment$75,963,095Closed7/23/2015PurposeSchool facilities and equipment
Issuance nameTAMU PUF Bonds Ser 2013 PledgeRevenue supportedMaturity date7/1/2033Principal$50,805,000Scheduled interest$9,562,800Total payment$60,367,800ClosedNot reportedPurposeNot reported
Issuance namePUF 2012A and Taxable 2012B PledgeRevenue supportedMaturity date7/1/2032Principal$50,025,000Scheduled interest$7,192,780Total payment$57,217,780ClosedNot reportedPurposeNot reported
Issuance nameRFS Bonds Ser 2015B PledgeRevenue supportedMaturity date5/15/2044Principal$46,775,000Scheduled interest$20,665,675Total payment$67,440,675Closed2/18/2015PurposeSchool facilities and equipment
Issuance nameRFS Bonds Ser 2015C PledgeRevenue supportedMaturity date5/15/2034Principal$30,610,000Scheduled interest$3,622,167Total payment$34,232,167Closed1/27/2015PurposeSchool facilities and equipment
Issuance nameRFS Bonds, Taxable Series 2016A PledgeRevenue supportedMaturity date5/15/2037Principal$29,380,000Scheduled interest$4,675,855Total payment$34,055,855Closed4/12/2016PurposeRefunding
Issuance nameTMC3 Development Corp Txbl Lease Rev Bonds (TAMUS) Ser 2020 PledgeRevenue supportedMaturity date5/15/2050Principal$28,395,000Scheduled interest$13,093,449Total payment$41,488,449ClosedNot reportedPurposeNot reported
Issuance nameTAMUS RFS Bonds Ser 2013B PledgeRevenue supportedMaturity date5/15/2043Principal$27,865,000Scheduled interest$16,779,200Total payment$44,644,200ClosedNot reportedPurposeNot reported
Issuance nameDirect Borrowings Lease Purchases PledgeRevenue supportedMaturity date8/31/2037Principal$26,854,936Scheduled interest$13,561,615Total payment$40,416,551ClosedNot reportedPurposeNot reported
Issuance nameTaxable Qualified Energy Conservation Bond Equipment Lease Purchase Agreement (Prairie View A&M University Energy Consumption Reduction Project) PledgeRevenue supportedMaturity date10/1/2036Principal$10,781,813Scheduled interest$2,889,804Total payment$13,671,617ClosedNot reportedPurposeNot reported
Issuance nameTAMU PUF Series 1998 PledgeRevenue supportedMaturity date7/1/2028Principal$10,305,000Scheduled interest$1,153,625Total payment$11,458,625ClosedNot reportedPurposeNot reported
Issuance nameTax Exempt Lease Purchase Agreement (Commerce Energy Conservation Measures Project) PledgeRevenue supportedMaturity date4/2/2033Principal$5,278,840Scheduled interest$625,799Total payment$5,904,639ClosedNot reportedPurposeNot reported
Issuance nameTaxable Qualified Energy Conservation Bond Equipment Lease Purchase Agreement (Corpus Christi Energy Consumption Project Phase I) PledgeRevenue supportedMaturity date4/1/2036Principal$4,962,089Scheduled interest$1,257,899Total payment$6,219,988ClosedNot reportedPurposeNot reported

Rows 1–38 of 38

Earlier issues

12 issues last reported before fiscal year 2025: repaid, refunded or matured

Other issues

1 issue with no balance reported at a fiscal year end, such as those known only from their costs of issuance

Texas fiscal years run September 1 to August 31. Each chart is as of fiscal year 2025 unless it names its years.

Colleges and university systems with revenue debt outstanding

Fiscal year 2025

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UTS
University of Texas System
TAMUS
Texas A&M University System
UHS
University of Houston System
TSUS
Texas State University System
TTUS
Texas Tech University System
UNTS
University of North Texas System
TSTC
Texas State Technical College
TWU
Texas Woman's University
SFA
Stephen F. Austin State University
TSU
Texas Southern University
MSU
Midwestern State University
  1. University of Texas System$13.8 billion
  2. Texas A&M University System$5.4 billion
  3. University of Houston System$1.8 billion
  4. Texas State University System$1.4 billion
  5. Texas Tech University System$1.1 billion
  6. University of North Texas System$901.0 million
  7. Texas State Technical College$415.1 million
  8. Texas Woman's University$218.4 million
  9. Stephen F. Austin State University$154.8 million
  10. Texas Southern University$119.0 million
  11. Midwestern State University$58.0 million
  • Tuition revenue bonds (TRB)
  • Revenue Financing System (RFS)
  • Permanent University Fund (PUF)

Principal of revenue debt outstanding, each system split by its three bond programs. BRB chart data fetched 10/15/2026.

Total annual debt service outstanding

Fiscal years 2006 to 2056

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  • TRB principal
  • TRB interest
  • RFS principal
  • RFS interest
  • PUF principal
  • PUF interest

Principal and interest still owed at each fiscal year end, scheduled to the final maturity. BRB chart data fetched 10/15/2026.

Total principal outstanding

Fiscal years 2006 to 2025

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  • Revenue supported, self-supporting
  • None: tax supported, not self-supporting; tax supported, self-supporting; revenue supported, not self-supporting

Principal outstanding at each fiscal year end, by pledge and whether the debt pays for itself. BRB chart data fetched 10/15/2026.

Bond counsel fees paid

Past five fiscal years

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  1. Orrick Herrington & Sutcliffe, LLP$226,482
  2. Winstead, PC$200,958
  3. Bates Law Firm PLLC$62,500
  4. McCall Parkhurst & Horton, LLP$62,500
  5. Cantu Harden Montoya LLP$37,500

Total fees paid to each firm. BRB chart data fetched 10/15/2026.

Financial advisor fees paid

Past five fiscal years

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  1. Hilltop Securities, Inc$840,446

Total fees paid to each firm. BRB chart data fetched 10/15/2026.

Underwriter fees paid

Past five fiscal years

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  1. JP Morgan Chase & Co$838,468
  2. RBC Capital Markets, LLC$525,736
  3. Jefferies Financial Group$448,425
  4. Morgan Stanley$311,705
  5. Siebert Williams Shank & Co, LLC$285,310
  6. Truist Bank$269,507
  7. Loop Capital Markets, LLC$233,779
  8. Estrada Hinojosa & Co Inc$168,425
  9. Stern Brothers & Co$165,679
  10. Blaylock Van, LLC$142,655
  11. Raymond James Financial Inc$142,655
  12. Stifel Financial Corp$142,655
  13. Bank of America$119,132
  14. Drexel Hamilton, LLC$116,889
  15. FHN Financial Capital Markets$116,889
  16. Stephens, Inc$116,857
  17. Ramirez & Co Inc$112,399
  18. PNC Financial Services Group, Inc$111,799
  19. Cabrera Capital Markets, LLC$80,568
  20. Frost Bank$69,589

Management fee plus takedown, for each of the top 20 firms. BRB chart data fetched 10/15/2026.

Rating agency fees paid

Past five fiscal years

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  1. Moodys$716,000, 45%
  2. S&P$556,600, 35%
  3. Fitch$320,000, 20%

Total fees paid to each rating agency, with its share. BRB chart data fetched 10/15/2026.

Charts: BRB Data Center, Texas A&M University System: its seven chart CSVs. BRB chart data fetched 10/15/2026.

EMMA links are added as each issue is matched.

Source: State Issuance Fee By Year (updated by the publisher 8/27/2026); Debt Outstanding By Issuance State By Year (updated by the publisher 10/6/2026). Loaded here 10/17/2026.

Texas fiscal years run September 1 to August 31.

Issuer names are shown as published, without source footnote letters.

Figures are as reported to the agency and have not been independently verified.