Loans

Loans are a form of financial aid that must be repaid, usually with interest, after you graduate from UT. The amount of money you can borrow depends on several factors, including your year in school. Loans are offered by the federal and state governments, 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

  • How to Apply for a Parent PLUS Loan video thumbnail, click to play

    How to Apply for a Parent PLUS Loan

  • Steps to Take if Your PLUS Loan is Declined video thumbnail, click to play

    Steps to Take if Your PLUS Loan is Declined

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

You will need to complete a College Access Loan Request Form.

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.

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The Office of Scholarships and Financial Aid cannot recommend a lender. If you have any questions about the loan, please contact the lender.

Most alternative loan lenders require a loan certification to verify enrollment and Cost of Attendance amounts.

Private Loan Certification:

  • Generally, the certification process will take 10 to 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.

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 2022-2023: August 16, 2022 -May 31, 2023
  • Fall Semester 2022: August 16, 2022 -January 7, 2023
  • Spring Semester 2023: January 9, 2023 -May 31, 2023
  • Summer Semester 2023: June 1, 2023 – August 14, 2023
  • Academic Year 2023-2024: August 15, 2023 – June 5, 2024
  • Fall Semester 2023: August 15, 2023 – January 13, 2024
  • Spring Semester 2024: January 16, 2024 – June 5, 2024
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Responsible borrowing

Short-Term Loans

Two types of short-term loans — emergency cash loans and tuition loans — are available to help students in immediate financial need. You may access the applications for tuition and emergency cash loans through UT Direct.

Emergency Cash Loans

Borrow a maximum of $500 for emergencies. Must be repaid within 30 days.

Requirements:

  • High-assurance UT EID and password.
  • Minimum half-time enrollment.
  • Borrowing is limited to $500.
  • All university debts are current and not past due.
  • No emergency cash loan currently unpaid or borrowed within the past 30 days.
  • All loans are due in 30 days; refer to Students Accounts Receivable for other terms and conditions regarding repayment, interest rate and late penalties.
  • Misuse of university accounting services such as bouncing checks or excessive borrowing of emergency cash loans can result in an administrative block on your future access to the system.

You may apply for an emergency cash loan through UT Direct. Payments for cash loans may be made on the What I owe website, at the Cashier’s Office or by mailing the payment to Student Accounts Receivable, P.O. Box 7398, Austin, TX 78713-7398.

Tuition Loans

If you need assistance paying your tuition bill on time, tuition loans are available based on the amount of your tuition bill.

Requirements:

  • High-assurance UT EID and password.
  • Minimum half-time enrollment.
  • Borrowing is limited to the current tuition bill. Nonresidents may only borrow the first installment (or 50%) of their tuition bill.
  • All university debts are current and not past due.
  • No unpaid tuition loan.
  • All loans are due in 30-90 days; refer to Student Accounts Receivable for other terms and conditions regarding repayment, interest rate and late penalties.
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You may apply for a tuition loan through UT Direct. Payments for tuition loans may be made on the Tuition Loan website, at the Cashier’s Office or by mailing payment to Student Accounts Receivable, P.O. Box 7398, Austin, TX 78713-7398.

Loan Disclosures

  • UT cohort default rate (fiscal year 2018): 2.3%
  • National average cohort default rate (fiscal year 2018): 7.3%
  • Percentage of undergraduate students that borrow loans at UT (Fall 2020): 30.6%

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