Education Abroad is an investment in your future. Many students have to take out loans to go to school in Austin, and you can do the same to support a semester or summer abroad. Students should discuss loan options with their education abroad program coordinator.
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 loan to study abroad.
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 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 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 (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.