Texas state law classifies each person who applies for admission to a Texas public college or university as one of the following:

• Resident of Texas
• Non-resident
• Foreign (International) Student

 Students who are classified as Texas residents pay a discounted tuition rate and qualify to apply for financial aid awarded by the state. 

Visit UT Austin Admissions or contact the UT Residency Office for more information about residency. 

Please note that your record will reflect that you are a non-resident until you are admitted to the program. You will then complete a survey to confirm your residency status.

First Year Fall 2024 / Spring 2025

The estimated cost of attendance is determined by The Office of Scholarships and Financial Aid (OSFA) and used as a starter budget for graduate students to provide your initial financial aid offer.

Each student applying for financial aid will be offered the same budget and the only differences in the amounts will be for tuition, which is based on residency, and international fees.

Graduate students must be enrolled in at least 5 credit hours in the fall and spring to receive financial aid.

Cost Breakdown:

*Cost per credit hours are not standardized and this estimate is based on taking a total of 29 hours your first year (15 hours in fall and 14 hours in spring) and is subject to change if you are taking more or fewer hours. Additionally, international students are charged non-resident tuition rates and will be subject to additional fees (see below) not included in the estimate above but will be included on the Tuition Bill.

**Off-campus room and board costs breakdown: $1579.77 per month for rent/utilities/Internet and $342.50 per month based on USDA low-cost food plan monthly average. When calculating the nine months of the fall/spring, the result is $14218 and $3082 respectively.

***Books & Supplies are based on enrollment at a multiple of $43 per credit hour. The estimate above is calculated based on taking a total of 29 hours in your first year (15 hours in fall and 14 hours in spring). This amount is subject to change if you are taking more or fewer hours.

THings to keep in mind

• Per federal regulations, financial aid cannot cover the cost of pets (with the exception of ADA service animals), purchasing a vehicle, or organization costs/conferences. You should have additional personal funds for items financial aid cannot cover.

• There are costs you may be required to cover while enrolled that are not already built into the standard cost of attendance (e.g. UT Academic Health Plan, International Student Services fees and health insurance, computer/technology needs, professional clothing, your MBA student fee, etc.). While not automatic, you can receive additional loans for these expenses. If you wish to increase your budget to cover these costs, or believe you have unique circumstances that require a budget increase, please contact the McCombs Financial Aid Team to discuss your situation to possibly initiate an appeal.

If you are a U.S. citizen or permanent resident, you will likely be eligible for federal student loans.

To determine your eligibility, you must complete the Free Application for Federal Student Aid (FAFSA). 

Once your FAFSA has been successfully processed, you will be offered enough federal loans up to the estimated Cost of Attendance (COA) for a Full-Time MBA student at 15 hours per 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. The Financial Aid team 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 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 of 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. 

Once you have been approved for loan funding through your lender, please notify the McCombs Financial Aid team by filling out the Private Loan Certification Request Form. We do not receive notification directly from lenders when a student has been approved for funding, so you must fill out the form in order for your private loans to be processed by McCombs. Keep in mind that the maximum certification periods appliable to your program will be fall/spring for a single academic year. 

If you have any questions about private loans, please email us at FinancialAid@mccombs.utexas.edu. 

There are some loan options for international students. More favorable loan terms may be available if you have a U.S. citizen or permanent resident as a co-signer. There are a few lenders that do not require a U.S. co-signer for approval, but the loan terms are typically less preferable.

The University of Texas at Austin cannot co-sign on any loans, and as a public institution, we are unable to recommend any specific lenders. We advise searching online and speaking to current students or alumni to see what options may be available for your. Once you choose a lender, we are able to work with all banks and lending institutions to process your loan.

Have you or your spouse been living and working in Texas for at least a year?

If so, it is possible that you could be considered an International Texas Resident. If you are able to establish domicile and be classified as a Texas Resident, you may have additional options to secure funding.

• Review the list of eligible visas that may allow you to establish domicile, and please refer to the Texas Residency office for more information about establishing domicile.
• If you or your spouse is on an eligible visa, please contact us at FinancialAid@mccombs.utexas.edu to discuss your situation.