Financial Aid
The Office of Financial Aid offers financial assistance to students who might otherwise be unable to attend the University. Financial aid awarded through the office may be gift aid, which includes grants and scholarships, or self-help aid, which includes student employment programs and long-term loans. Most financial aid is based on documented financial need. Financial need is the difference between the cost of attending the University and the financial resources available to the student.
To apply for financial assistance, a student must complete a need analysis form each year. The office requires the student to complete the Free Application for Federal Student Aid (FAFSA ) to be evaluated for financial need. The need analysis helps the office assess available family resources and determine eligibility for specific aid programs.
Students who are admitted as transient/non-degree-seeking and attend the University only in the summer session are not eligible for financial aid through the Office of Financial Aid.
Estimated Costs. Pursuant to state law, The University of Texas System Board of Regents (the Board) is authorized to set tuition. Please visit Tuition Dollars & Sense for up-to-date information regarding Fall 2016 rates.
The following are estimated typical costs for tuition, fees, room, board, books, travel, and personal and miscellaneous items for a new single student living in University-owned housing for the long sessions (fall and spring semesters) 2016-2017. The tuition amounts included in these figures are based on an average course load of twelve semester hours for undergraduates and nine semester hours for graduate students.
| Texas residents | Nonresidents | |
|---|---|---|
| Undergraduate | $25,110 | $50,700 |
| Graduate | $27,958 | $36,510 |
Application dates. The University strongly recommends that all students complete the FAFSA by the University’s FAFSA priority date. More information about the FAFSA priority date and financial aid is published by the Office of Financial Aid . This information is also available by mail from The University of Texas at Austin, Office of Financial Aid, 100 West Dean Keeton Street, Austin TX 78712-1712. A student may apply for financial aid before being officially admitted to the University, but the awarding of aid is contingent upon admission. Aid cannot be disbursed until the student is officially enrolled.
Prospective freshmen apply for scholarships by completing the freshman scholarship application at ApplyTexas , the online admission and scholarship application. Continuing and transfer students may apply for annually awarded scholarships by completing the online UT Austin Scholarship Application for Continuing & Transfer Students . For more information, including deadlines, see Scholarships .
Course load requirements. Most financial aid programs are based on a minimum full-time enrollment of twelve hours for undergraduate students and nine to sixteen hours for graduate students, depending on the student’s academic program. Students may receive financial aid for less than full-time enrollment with the approval of their financial aid counselor. Some aid programs require that assistance be reduced proportionately for less than full-time enrollment. To receive financial assistance for the summer session, students (except those admitted as transient/non-degree-seeking) must enroll for classes in a six-week term, the nine-week term, or the twelve-week term.
Changes in financial circumstances. Students are responsible for reporting to the Office of Financial Aid any change in their financial resources that occurs after the initial application for aid is submitted. A documented decrease in resources may provide for an increase in financial aid if funds are available; an increase in resources may result in a reduction or cancellation of financial aid funds or a requirement to repay awards already released to the student.
Satisfactory Academic Progress. Federal law requires that institutions of higher education monitor the academic progress of students who receive federal financial aid. In order to remain eligible for federal, state, and some institutional financial aid, students must comply with The University of Texas at Austin's standards for Satisfactory Academic Progress; requirements for satisfactory progress are:
- Minimum GPA: An undergraduate student must maintain a cumulative University grade point average (GPA) of at least 2.00. A graduate student must maintain a cumulative GPA of at least 3.00.
- Minimum Pace: A student must successfully complete at least 75% of the credit hours they attempt.
- Maximum Timeframe: A student may attempt no more than 134% of the credit hours required by his or her degree program.
For more specific information about the policy and the appeal procedure, see the Office of Financial Aid's website .
Types of Financial Aid
A student who submits a Free Application for Federal Student Aid (FAFSA) is considered for all federal, state, and institutional funds that are administered by the Office of Financial Aid on behalf of the University. The composition of the aid package depends on the characteristics of the student, including program eligibility and degree of financial need, as well as on the availability of funds.
Gift Aid
Students who apply for financial help by the priority deadline are considered for all gift aid awards administered through the Office of Financial Aid. To be considered for a Federal Pell Grant, a student must be an undergraduate and must not have received a bachelor’s degree. Most scholarships and grants awarded through the FAFSA process are based on financial need. The office also administers some programs based on merit.
In addition to specific qualifications for competitive undergraduate scholarships and fellowships awarded by the University, the committee or agency responsible for selecting recipients for a given scholarship or fellowship may consider such factors as the following in designating recipients:
- Standardized test scores
- Class rank
- Grade point average
- Leadership and extracurricular activities
- Status in national academic competitions
- Academic performance within a major and other performance criteria
- Financial need
- Socioeconomic background
- Educational level
Self-Help Aid
Long-Term Loans. Federal loan programs are available to assist students who show financial need. These programs have interest rates that may be adjusted annually and do not require repayment of principle or interest until the student has graduated or is no longer enrolled at least half-time. In addition, the loans offer a grace period between the time the student leaves school and the time repayment begins. Deferment or cancellation of repayment is available for situations such as military service, periods of unemployment, or teaching service in designated schools.
Federal and state loans are also available both to students and to the parents of students who do not show financial need. Interest rates on these loans are set by federal and state law. Under certain conditions, repayment of these loans may be deferred while the student is enrolled in school.
Employment. The Work-Study program provides jobs for students who show financial need and want to earn part of their educational expenses while attending school. The majority of Work-Study jobs are on campus, though some may be with off-campus nonprofit agencies. Depending on their education and experience, students may choose from a variety of employment opportunities.
Other Services Not Based on Financial Need
Short-term loans are available to students for emergency expenses related to educational costs. In addition, the Office of Financial Aid helps students find part-time, seasonal, and summer employment through the Hirealonghorn Job Bank . Information about these services is available at the Office of Financial Aid.
Requirements for Student Borrowers
Mandatory counseling sessions. Prior to receiving the first disbursement of a Federal Direct Subsidized or Unsubsidized Loan, Federal Direct Graduate PLUS, or Federal Perkins Loan, student borrowers must complete an online loan counseling session, in which they receive information about their obligations, rights, and privileges as borrowers. In addition, before withdrawal or graduation from the University, student loan recipients under these programs must complete an online exit interview to receive additional information about their repayment obligations and about the consequences of failure to repay.
Identification and release of official transcript. Records of students who have received loans are identified to the Office of the Registrar. Students may not obtain official academic transcripts if they fail to repay federal, state, or University loans under the terms and conditions to which they agreed when they applied for the loans.
Tuition Refunds and Repayment of Financial Aid
Students who are awarded financial assistance for a specific semester but withdraw prior to the beginning of classes are required to repay the University all funds released. Students who withdraw after the beginning of classes may be required to repay at least some portion of the funds received. The amount to be repaid is calculated according to a repayment policy determined by the Office of Financial Aid in accordance with federal regulations. Repayment varies depending on the amount and type of funds received and when the student withdraws. Any refund of tuition due to a student may be used to meet the aid repayment requirement.
Students who received financial assistance may have all or part of the calculated refund credited to the student aid programs from which the student was paid. The remaining refund, if any, will be disbursed to the student.
Federal regulations require that refunds due to student aid programs be credited in the following order: (1) Federal Direct Unsubsidized Loan; (2) Federal Direct Subsidized Loan; (3) Federal Perkins Loan; (4) Federal Direct Grad Plus; (5) Federal Direct Parent Loan for Undergraduate Students; (6) Federal Pell Grant; (7) Federal Supplemental Educational Opportunity Grant; (8) other federal student aid programs; (9) nonfederal student aid programs. Nonfederal student aid programs are refunded in the following order: (1) state grants; (2) institution grants; (3) state loans; (4) scholarships, if specified by donor.