Questions About Financial Aid
Have questions about financing your degree? McCombs employs dedicated financial aid personnel to assist you in your commitment to earning an MBA. Below are a few of the most common questions we receive, as well as our contact info if you need to get in touch with us.
- What is the EFC and how does this affect my award?
The EFC is your “Expected Family Contribution” determined by the Department of Education. It is merely used to determine your financial need for need-based grants and loans. This is not a dollar figure that you necessarily need to provide, nor does it have an effect on the total amount of loans you may borrow.
- How does my scholarship or fellowship affect my total loan amount?
All of your financial aid and resources must be awarded within the budget assigned. Therefore if you are awarded a scholarship, fellowship or other outside resource your loans will be reduced accordingly, starting with the Graduate PLUS loan.
- How much financial aid can I expect to get?
Individual budgets vary year to year, but you can look at the average UT Austin cost of attendance
over the past three years to get a general idea.
- The allocation of other/living expenses concerns me. What if I have additional living expenses I would like considered for my budget?
Indeed, each student and family may have particular budgetary situations they need to consider in order to make ends meet. By federal regulation and through special circumstance, we may consider minimal areas within the student budget/cost of attendance. Common areas may include: family room and board, child care, student health insurance, laptop, and additional books. These circumstances are reviewed on a one-on-one basis with proper documentation and by submitting a special circumstances appeal form
Contact Our Team
If you have any questions regarding the process of applying for financial aid or need assistance in deciding which of your available options best suits your needs, please feel free to contact our in-house financial aid officer at FinancialAid@mccombs.utexas.edu.