Financial Aid
Financial aid usually comes in the form of student loans for first-year students. Applicants can apply for most loans through the University's Office of Student Financial Services (OSFS). To apply for federal and state assistance, students will need the Free Application for Federal Student Aid (FAFSA). It is available online at www.fafsa.ed.gov.
OSFS's Application Guide: Applying for Financial Aid provides valuable application information. It is available online at http://www.utexas.edu/student/finaid – click "The Process." Interested applicants may contact OSFS.
The recommended date for the financial aid application is March 15. Additional information is available through the program's in-house financial aid officer at (512) 471-7698 or FinancialAid@mccombs.utexas.edu.
Loans
If you are a U.S. citizen (as well as some U.S. permanent residents) you will likely be eligible for federal student loans. To determine your eligibility for federal student loans you must complete a FAFSA (Free Application for Federal Student Aid). You can complete your FAFSA as soon as January 1st each year, via www.fafsa.ed.gov. It is recommended that you have your FAFSA completed by June 1st, however the priority deadline is March 15th.
Under the federal loan categories, there are Unsubsidized Loans as well as the Graduate PLUS Loan. Graduate students may borrow a maximum of $20,500 in Stafford loans per year. Upon credit check approval, you may be eligible to borrow the Federal Graduate PLUS Loan to cover the remaining costs within your cost of attendance/budget (minus other loans and financial aid).
Again, start smart with federal loans and complete your FAFSA each year.
International students interested in loans should contact the in-house Financial Aid Officer at 512-471-7698, FinancialAid@mccombs.utexas.edu.
Scholarships
Recruiting Scholarships
All applicants are automatically considered for recruiting scholarships during the admission process; no additional paperwork needs to be submitted.
McCombs annually offers over one million dollars in scholarships in the form of cash awards and tuition waivers. Cash awards range from $2,000 to $10,000 and consist of both one- and two-year awards. In addition, approximately half of these awards are accompanied by out-of-state tuition waivers, which save the student an additional $16,000 per year. Recruiting scholarships are distributed almost exclusively on the basis of merit.
Continuing Student Scholarships and Awards
During the first year, current students may apply for a number of scholarships and awards given by the McCombs School of Business through generous support of individual donors and its corporate supporters. More than $100,000 will be awarded through MBA Current Student Scholarships on the basis of merit (academic record during the first semester in the program) and need.
Minority Students
McCombs is a member of the Consortium for Graduate Study in Management. CGSM recruits African Americans, Hispanics and Native Americans for merit-based fellowships, as well as other persons who can demonstrate a commitment to The Consortium's mission and can best assist the Consortium in pursuing that mission. Each candidate admitted to a Consortium MBA program competes for a privately funded, full-tuition fellowship.
The Texas MBA program will accept your Consortium application for admission purposes and your application is automatically evaluated for the Consortium Fellowship. You do not have to submit separate application materials for the Texas MBA program in addition to submitting the Consortium application to the Consortium office. Once we receive, process and review your Consortium application for admission, you will be notified in writing of the admission and fellowship decision.
If you have a specific question or would like more information about applying to the Texas MBA program through the Consortium for Graduate Study in Management, access their website and/or send an e-mail to diversity@mccombs.utexas.edu.
International Students
All applicants – including internationals – are automatically considered for recruiting scholarships at the time of application and during the admission cycle following. No special application is needed. However, international students should be prepared to meet all expenses for two full calendar years from their own resources. We would recommend that you consult the International Student & Scholar Services website about additional financial questions you may have.
Tuition Assistance for Mexican Students (TAMS)
TAMS is a waiver of non-resident tuition for a limited number of Mexican students who have demonstrated financial need. The application process is competitive. For more information, please refer to the International Student & Scholar Services financial aid website.
Teaching Assistantships and Research Assistant Positions
The five individual academic departments within the School of Business handle Teaching Assistantship positions: Accounting, Finance, Management, Management Science and Information Systems and Marketing. Each department has its own application process. Please contact the area in which you would be interested. Also check with the Ford Career Center (phone (512) 471-7748, fax: (512) 471-5309) for information on additional assistantship positions. Please be aware that these opportunities are limited and that it is very difficult to obtain a position during the first year. MBA students cannot take on TA-ships within the McCombs School of Business for more than 15 hours per week and do not gain in-state tuition by virtue of a TA-ship. Students should take into account their mandatory 15-hours-per-semester course load when considering any TA-ship.
All AIs (Assistant Instructors), TAs and RAs must be admitted unconditionally to McCombs, maintaining a GPA of 3.0 or higher, while making satisfactory progress toward the degree. They must be registered for at least nine credit-hours of course work in the long semesters and three semester hours each summer term while employed. All exceptions must be petitioned through the dean of the MBA Program Office.