Financial Aid and Loans
You can apply your financial aid award towards any approved education abroad program. Award packages are adjusted to reflect the costs of the program, so students can go anywhere and be fully covered.
Pell Grants
Students receiving a federal Pell Grant will be able to take these funds abroad for a fall or spring semester. Additionally, students should expect to receive some Pell Grant funds if they elect to study abroad in the summer.
Loans for Education Abroad
Education Abroad is an investment in your future. Many students have to take out loans to go to school in Austin, and similarly, many students choose to take out loans to support a semester or summer abroad. Students are encouraged to discuss loan options with their Education Abroad Program Coordinator.
Loan Types
-
Direct and Unsubsidized Loans
These loans are funded by the federal government and administered by UT’s Office of Scholarships and Financial Aid. Students who use Direct Sub & Unsubsidized Loans to go to school in Austin will be able to use these same loans to study abroad.
-
Direct Parent PLUS Loan
This is a federal loan that allows a parent to borrow money to support their student’s education. PLUS Loans require someone to co-sign the loan with a good credit score. This loan is also administered by UT’s Office of Scholarships and Financial Aid. Additional loan application and promissory note have to be completed. For a quick overview, watch the new PLUS Loan video.
-
Tuition Loan
Tuition Loans are available to help students pay outstanding tuition bills by the posted deadline. This loan is available to students enrolling in at least 6 hours. Education Abroad students use this type of loan to confirm their tuition bill in cases where their aid for the term abroad is not available or confirmed.
-
Private / Alternative Loans
Private and Alternative Loans are available in cases where the federal loan programs are inadequate to help you meet your educational expenses. A private / alternative loan provides funds from a private lender (bank) of your choice. Like a PLUS Loan a co-signer with a good credit score is required.
-
Emergency Cash Loans
Emergency Cash Loans (maximum of $500) are available to students currently enrolled for at least 6 hours. This loan is always due one month from the date the promissory note is signed. Students do not have to be physically in Austin, Texas to apply for and receive this loan. Many students use this type of loan to support up-front study abroad costs before their funds for the semester have been distributed.
Things to Think About
- Do you have someone who can co-sign a loan for you?
- Do you know what kinds of loans and how much you have already? Go to CASH and find out.
Disbursement Timeline
Scholarships
Education Abroad scholarships offered by UT departments are generally released to the student immediately after the award notification via email. The one exception is Maymester scholarships which are generally awarded in December but not disbursed until late January. Students should contact the scholarship administrator if they have questions about the scholarship payment timeline.
Loans & Grants
Funds from the State of Texas and the U.S. Federal Government are disbursed to the student based on federal regulations. The charts below will assist you in knowing when you can expect to receive these funds.
-
Summer
Start Date Disbursement Date Notes June- July (SS1) Early June, but typically not before June 2 If your program leaves in May, you will not have your funds before departure. Mid-July - August (SS2) Mid-July, but typically not before July 4 If you are enrolled in a second summer session program and going to your country early, you will not have your funds before departure. -
Fall
Start Date Disbursement Date Notes July - August Late August, approximately UT first class day If you are departing in June, July or August you should plan on not receiving your financial aid until late August. September - October 10 days before your start date in country n/a -
Spring
Start Date Disbursement Date Notes January Between January 1-15 If you leave in very early January, you should plan on not receiving your financial aid until the third week of January. February - April 10 days before your start date in country n/a -
May
Start Date Disbursement Date Notes May Mid February May term funds disburse as Spring aid. These supplemental funds for the Spring semester are provided to the student through a second disbursement in mid-February.
Maymester Programs – Aid Alert
Students participating in Maymester 2022 programs will have summer registration and summer financial aid. Students will have access to a special institutional loan program and increased resources from the UT Austin Emergency Cash Loan program.
Departmental scholarships will release in mid-Spring (March – May), while federal and institutional loans and grants will disburse to students in late May or early June.
Additionally, graduating seniors may go abroad on a Maymester in 2022, however, you should check with the Graduation Help Desk and/or Texas One Stop regarding your access to federal, state and institutional grants and loans.
Affiliated Programs - Aid Alert
Students participating in Affiliated Studies programs will not be able to receive their Texas Grant, UT Tuition Grant, Be-On-Time Loan or Top 10% Scholarship while abroad. All of these funds require a student to maintain enrollment in a tuition-based registration category. Students in Affiliated Studies do not pay UT Tuition, they pay a $600 administrative fee to maintain enrollment. Students in faculty-led programs that are part UT tuition and part Affiliated Studies may be able to receive pro-rated amounts of these aid programs.
Summer Session 2 - Aid Alert
Students participating in faculty-led or faculty-led affiliated hybrid programs for summer session 2 are required to pay their full amount of tuition and if applicable affiliated studies fee of $600 or take out a UT Austin Tuition Loan by the fourth class day of Summer Session I. Students cannot simply defer their tuition to financial aid. For more information contact your Program Coordinator.