Financial aid •

June 20, 2022

University of Texas financial aid: a complete guide

Read all about financial aid at the University of Texas, including scholarships, loans, and grants.


Opened in 1883, the University of Texas is one of the top public universities in the United States. UT Austin, one of the largest campuses in the UT system, is home to more than 52,000 students and 3,000 faculty members across 18 colleges and schools.

The school’s core purpose is to “transform lives for the benefit of society” by achieving excellence in education, research, and public service. 

If you’re thinking about going to the University of Texas but aren’t sure how you’ll pay for college, this article will tell you everything you need to know.

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A snapshot look at the University of Texas 

The University of Texas is a public university system located in the state of Texas. It includes 13 higher education institutions across the state with more than 240,000 students and 21,000 faculty.

UT Austin is the largest school in the system. The school benefits from “the backdrop of Austin, Texas, a city recognized for its creative and entrepreneurial spirit” and aims to provide a place for its students to explore opportunities for tomorrow.

UT Austin offers many undergraduate and graduate programs, including both medical and legal degrees. Undergrads can choose from programs across multiple colleges, including the College of Fine Arts, College of Education, McCombs School of Business, and the College of Liberal Arts.

Outside of class, students can join one of the school’s more than 70 fraternities or sororities, enjoy NCAA sports as a spectator or participant or join one of the school’s many clubs or student groups.

Ranking: 38th in National Universities

Size: 52,000+

Demographics: 46% male, 54% female

Tuition: Varies by college, ~$12,000 for in-state students, ~$40,000 for out-of-state students

Acceptance rate: 39%

Average GPA of accepted student: 3.8

Key dates and deadlines (2021):

Application: December 1st

Financial aid deadlines: January 15th

Scholarships offered by the University of Texas 

It’s no secret that college is expensive. You can wind up paying hundreds of thousands of dollars over the course of your education, and many families spend years saving up for the cost of school.

One of the best things that you can do to help pay for college is apply for scholarships.

Scholarships are financial awards that you can use to pay for tuition, fees, and some other education expenses. Best of all, you don’t have to pay them back after you leave school. They’re simply free money to pay for your schooling.

There are many ways to earn scholarships, including through academic achievement, financial need, or athletic prowess.

UT Austin offers more than 3,000 scholarships to its incoming and current students. Its financial aid and admissions websites have information on the different awards available and advice on how to apply for them. Many only require that you fill out the FAFSA, which we’ll cover later. For others, you can use the scholarship finder tool to find opportunities you’re eligible for and easily apply.

On top of the programs offered by UT Austin, you should look into scholarship programs from other groups. Many businesses, community organizations, and even local governments have scholarship programs you can apply for.

You can find scholarships for almost anything if you look carefully.

Mos can help you figure out how to pay for college through scholarships and loans. To get the most aid possible, visit our financial aid tips and tricks page.

Student loans

Scholarships might be the best way to pay for school, but the reality is that most students won’t earn enough aid to be able to cover the cost of college. That means that many people will have to turn to student loans.

Student loans are a special type of loan designed for students. You can use them to pay for tuition and other educational expenses. However, unlike scholarships, you’ll need to pay them back, plus interest. Loans are expensive, but they can be a valuable tool for investing in yourself.

UT Austin’s financial aid website has a page outlining the different loan programs available to its students.

For most students, the best way to borrow money is through the Federal Direct Loan Program. This is a federal student aid program that offers 2 types of loans to college students.

Of the 2 loans, subsidized loans are better. With subsidized loans, interest won’t build up on the balance as long as you remain enrolled in school. You can also get unsubsidized loans, but interest will start accruing on these loans right away.

On top of interest subsidization, federal loans have a lot of other perks. For example, students may be able to get their loan balances forgiven in some cases and can sign up for income-based repayment to make the loans more affordable.

Texas residents can also take advantage of the College Access Loan program offered by the state. These loans can range in size from $100 to the full cost of attendance and have low, fixed interest rates.

If you’ve exhausted both your federal and state loan options, the next place to look is to private lenders. Banks, credit unions, and specialized student loan companies can offer college loans to students and their families. However, these loans lack many of the benefits of government loans and typically have higher fees and interest rates.

Typically, you should max out your federal and state loans before working with a private student lender.

Student loans are complicated. There are so many different options that it can be hard to choose the right one for your needs. If you're still looking for more information, take a look at our article about the different types of financial aid you have to pay back.


The most important thing to do for any college student who needs financial aid is to complete the Free Application for Federal Student Aid (FAFSA). The FAFSA is a universal student aid application that gets used by federal and state governments as well as your school to determine how much financial aid you’ll receive.


When you fill out the FAFSA, you’ll sit down with your parents or guardians and answer some questions about your financial situation. That includes things like your family’s income and any money they have saved. Based on the answers, the government will determine your expected family contribution (EFC) to the cost of college.

Your EFC will determine your eligibility for government aid programs like Pell Grants and federal loans and the need-based financial aid you receive from your college. 

Keep in mind that while the FAFSA is used to determine your financial need, most schools do not guarantee that they meet 100% of their students' financial needs. You’ll have to come up with the rest of the money somehow, typically by getting student loans.

The FAFSA opens on October 1st for aid awarded in the next academic year. You have until June to fill it out, but Texas has a state deadline of January 15th. It’s usually in your best interest to fill it out as soon as possible.

You can read our article on how long it takes to complete the FAFSA for more information.

University of Texas financial aid FAQs 

Here are some frequently asked questions about the University of Texas

What is the University of Texas’s cost of attendance?

The cost of attendance at the University of Texas, Austin for an in-state student ranges from $20,518 to $32,346, depending on the student’s living situation and the college they choose. Of that number, $10,858 to $13,576 is tuition.

Cost of Attendance

Out-of-state students pay additional tuition, ranging from $38,650 to $46,498, making their total cost of attendance range from $57,420 to $65,268.

How many students receive a full ride at the University of Texas?

UT Austin doesn’t publish how many students receive a full ride. However, 42% of first-year students receive some form of need-based aid, and the average need-based aid totals $9,723.

Overall, the school meets 66% of its students’ financial needs.

Can out-of-state students receive financial aid?

Yes, out-of-state students are able to receive financial aid at UT Austin.

Universities like the University of Texas that you might be interested in 

If you’re not sure that the University of Texas is right for you, consider the alternatives.

Other Schools

Texas A&M

Texas A&M, located in College Station, Texas, opened in 1876 as the state’s first public institution of higher education. Today, it’s one of the top research-intensive universities in the state, offering more than 130 undergraduate and 170 master’s degree programs.

Texas A&M also has multiple international campuses, with locations in Mexico, Costa Rica, and Qatar, giving students the opportunity to study internationally.

Outside of classes, Texas A&M is a national force in NCAA Division I sports and offers hundreds of student clubs and organizations for its students to join.

As a public institution, Texas A&M keeps tuition costs low for in-state students, making it an appealing choice for those looking to keep the cost of their education as low as possible.

Texas Tech

Texas Tech is another public, research-focused university located in the state. Like Texas A&M and UT Austin, it keeps tuition affordable for in-state students, making it appealing to those concerned about college costs.

On top of its designation as one of just 94 “very high research activity” universities, Texas Tech is a designated Hispanic Serving Institution with a Hispanic student population of over 29%. Students can benefit from the opportunity to engage with cutting-edge research and a highly diverse student body.

The school is located in Lubbock, Texas, and is home to more than 40,000 students. With 150 undergraduate degree programs, 100 graduate programs, and hundreds of student clubs and organizations, there’s something for everyone at the school.

Texas State University

Texas State University, founded in 1899, is another public university that keeps tuition inexpensive for in-state students. The majority of its students come from Texas. It is the only university in the state where a president has graduated, Lyndon B. Johnson.

Like many other schools, Texas State University has a focus on research. It offers nearly 100 undergraduate programs and more than 90 graduate programs across its 10 colleges.

Students at Texas State University can choose from 2 campuses: the original campus located in San Marcos or a second campus in Round Rock, just north of Austin, giving students easy access to one of the state’s largest cities.

Outside of classes, Texas State has 16 NCAA Division I teams for students to join or cheer on as spectators. It also has more than 400 student organizations focused on academics, art, and other interests. Students can also join roughly 5,000 other students, faculty, and staff during the school’s annual community service project, Bobcat Build.

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The University of Texas is one of the top public colleges in the United States. It offers a huge variety of programs and a strong education. If you’re an in-state student, you can get a great degree at a very reasonable cost, but even out-of-state students might consider the school.

From FAFSA to filing appeals, you can do the financial aid stuff on your own. Want an expert to take over? That's cool too--and where Mos financial aid advisors come in. Work 1-on-1 with an advisor who’ll review your annual aid offer, draft custom tuition negotiation letters, and more. Explore Mos memberships to get started.

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