If you're a U.S. citizen or permanent resident, you'll likely be eligible for federal student loans. To determine your eligibility, you must complete a Free Application for Federal Student Aid (FAFSA). The FAFSA is available October 1 of each year and it is recommended that you have your FAFSA completed at least by June 1.
Once your FAFSA has been successfully processed, you will be offered enough federal loans to cover your program costs each semester. Additional loans can then be requested to help cover living costs and other educational expenses not already included in your program costs, which you can request by emailing the McCombs Financial Aid Team.
You can check the status of your FAFSA after it has been submitted by visiting the ‘Status/Requirements’ page in your Check Aid Status Here (CASH) portal. We will begin packaging McCombs students’ financial aid in late May/early June for the upcoming aid year. If you do not receive a Financial Aid Notification (FAN) by the end of June, please feel free to contact us at FinancialAid@mccombs.utexas.edu.
If you choose to pursue a private loan, we recommend applying no sooner than a few months before the start or your program. Most private loans are credit-based and the approval decision may expire. Check with your lender about the length of time your application will remain valid before you apply. Summer loans require a separate approved application with your lender, and we cannot certify a summer disbursement with any fall/spring loans.
Once you have been approved for loan funding through your lender, please be sure to notify the financial aid team through this online form. Please be advised that since UT is such a large institution, we do not receive notifications directly from lenders when a student has been approved for funding.
If you have any questions, feel free to contact us at FinancialAid@mccombs.utexas.edu.
International Student Loans
For an international student, there may be loan options. Better loan terms may be available if you have a U.S. citizen or permanent resident as a co-signer. Though loan terms will likely be less preferable, there are a few lenders that do not require a U.S. co-signer to be approved. We are not able to recommend any lenders, specifically, but do advise searching online to see what options are out there for you. We will work with all banks and lending institutions.
We, as the University of Texas at Austin, cannot be your co-signer.
HAVE YOU OR YOUR SPOUSE BEEN LIVING AND WORKING IN TEXAS FOR AT LEAST A YEAR?
If so, it's possible you could be considered an International Texas Resident. If you are able to establish domicile and be classified as a Texas Resident, your options for securing funding could open up.