Loans are a form of financial aid that must be repaid, usually with interest, after you graduate from UT Austin. The amount of money you can borrow depends on several factors, including your year in school. Loans are offered by the Federal and State government, as well as through private lenders.

Federal Loans

  • Direct Loans Subsidized/Unsubsidized: Loans taken out by eligible student borrowers pursuing an undergraduate, graduate, or professional degree. Learn more >
  • Direct Parent PLUS Loan: Loans taken out by eligible parents of dependent undergraduate students. Learn more >
  • Direct Graduate PLUS Loan: Loans taken out by eligible students pursuing a graduate or professional degree. Learn more >

State Loans

  • College Access Loan: This program provides alternative educational loans to Texas students who are unable to meet the cost of attendance. Learn more >

Private Loans

  • Private student loans are meant to provide additional funds after you have applied for and exhausted your federal and state financial aid options. All private loans require credit checks, and most loans will require a co-signer if the borrower has little or no credit history.
  • The Office of Scholarships and Financial Aid cannot recommend a lender.
  • If you have any questions about the loan, please contact the lender.

    Private Loan Certification:

    • Generally, the certification process will take 10–14 business days but may be longer during peak times (August through October). This processing time is for UT only and does not include additional processing time your lender may have before sending funds.
    • You can borrow an amount up to cost of attendance.
    • Your certified loan will disburse only after your lender has all documentation needed from you (e.g., income verification, co-signer addendums, or signed original promissory notes).

    What to consider before deciding on an alternative loan:

    • What is the interest rate? Is it fixed or variable?
    • How is the interest rate calculated and capitalized?
    • What fees are applied?
    • Can principal and interest be deferred?
    • When does repayment begin?

We encourage students to consider all financial options before applying for a private loan. Whenever possible, borrow only what is needed to pay for educational expenses and remember – you can always refuse awarded loan amounts or request lower awards.

Important Note:

When completing the loan application, please use the following dates to indicate the academic period for which you would like to borrow the loan.  Using dates other than those listed below may result in processing delays.

  • Academic Year 2019–2020: August 28, 2019–May 19, 2020
  • Fall Semester 2019: August 28–December 18, 2019
  • Spring Semester 2020: January 21–May 19, 2020
  • Summer Semester 2020: June 4–August 17, 2020

Responsible borrowing >

Illustration of student casting a shadow in the shape of a dollar sign

Loan Disclosures

• UT cohort default rate (fiscal year 2015): 2.6%

• National average cohort default rate (fiscal year 2015): 10.8%

• Percentage of students that borrow student loans at UT (2016–17): 37%