Tuition, Fees & Financial Aid

Program Cost

The cost of the Texas Evening MBA program for the class entering fall 2008 was $79,800 for Texas residents. Tuition for the next entering class will be set late fall 2008. Payments are due approximately six weeks before each semester begins. There is a supplemental charge for non-resident students.

Due to budgetary pressures, there may be further increases in tuition and program fees. Students should expect an increase from year I to year II and from year II to year III. Payments for each semester's tuition, fees and seminars are due approximately six weeks before each semester begins. Tuition, fees, and charges are subject to change by administrative, legislative, or regental action, and changes become effective on the date enacted.

Financial Aid

How to Apply

To apply, complete a Free Application for Federal Student Aid (FAFSA). This is a national form available on the web at www.fafsa.ed.gov. You will need to list UT Austin on the FAFSA along with the school title IV code, which is 003658. The priority application date is March 31st, although there are no actual deadlines.

Only domestic and permanent residents are eligible for financial aid through the FAFSA form.

To check the status of the processing of your FAFSA at the Federal Student Aid processing center, call 1-800-4FED AID and select option #1.

Awarding Financial Aid

Within three weeks of sending your FAFSA to the federal processor, you will receive your Student Aid Report (SAR). UT Austin will receive the same data electronically, from the Federal Processing Center. When you receive the SAR, review it to make certain the information is correct. If UT’s Office of Student Financial Services (OSFS) needs any additional information from you, a request will be sent.

An example of what could be requested is proof of Selective Service registration for male students. It is a federal regulation to be eligible for aid; males must have been registered with Selective Service. However, if you did not become a U.S. citizen or permanent resident until after age 26, you will need to submit a copy of your passport or other INS papers that show your date of entry, to the OSFS. If you became a permanent resident or U.S. citizen after age 26 you are not required to register with Selective Service, however, documentation of this will be required.

Processing of awards for graduate business students will begin mid to late April, and electronic Financial Aid Notification (e-FAN) award notices will begin going out at this time if you did not need to submit any documentation in order for your application to be processed. To check the status of your application, you may check your status by going to the OSFS website at http://finaid.utexas.edu on CA$H.

When you receive the e-FAN, you’ll submit it back to OSFS accepting your awards. Approximately one week after submitting the e-FAN, you will receive a Master Promissory Note/loan application. The promissory note/loan application will have instructions about information to be filled out. You’ll send the promissory note/loan application to the lender you chose when you submitted your e-FAN, and the lender’s address will be provided in the instructions.

Financial Aid Available for Texas Evening MBA

There is Federal Stafford Loan, also known as FFELP (Federal Family Education Loan Program), and supplemental loan available. The Federal Stafford Loan has an $18,500 federal annual loan limit. There is need based Stafford Loan and non-need based Stafford Loan. The interest rate on the Federal Stafford Loan is 6.8% fixed, and it is a ten-year loan. Repayment begins six months after graduation or the last class day.

There will also be a Federal Graduate PLUS supplemental loan available and this will be awarded to you to make up the difference between the program cost and the $18,500 in federal Stafford, particularly in the summer. It isn’t a guaranteed student loan like the Stafford, as there is a credit check for the PLUS loan. The Grad PLUS has an 8.50% fixed interest rate. An in-school deferment will be available as long as the student is enrolled in at least half time which is 6 hours per semester under federal regulations. Repayment begins 60 days after graduation or the last class day.

Eligibility for the federal Stafford Loan and/or supplemental loan can be different for students receiving VA education benefits or education benefits from an employer.

Scholarship

Scholarships for graduate students are through the individual program of study and the Texas Evening MBA Program itself does not provide scholarships. However there is an all around good financial aid website at www.finaid.org. At this site there are links to scholarship websites to search for outside scholarship. MBA students typically don’t have very much luck with qualifying for outside scholarships but you never know and it doesn’t hurt to look.

Hazlewood Act

For information concerning the Hazlewood Act for ex-service Texas residents, please contact the campus Veteran Services Office at 512-475-7540.

While the Texas Evening MBA Program itself does not provide financial assistance or scholarships, financial aid brochures are available through our office.

For questions contact the in-house financial aid officer Mary Gielstra in the McCombs School Business at (512) 232-6460 or via email at mary.gielstra@mccombs.utexas.edu.

For more information The University of Texas at Austin’s Office of Student Financial Services web address is http://finaid.utexas.edu.