Getting a college degree is a huge life step, and for many students it is also their first big financial investment. The question on the minds of many incoming students and their families is how to balance higher education opportunities with affordability.
About 54% of full-time Texas resident undergraduate students receive financial aid defined as grants, scholarships, exemptions and waivers. Whether the funds come from the university, private foundations, donors or other entities, these investments contribute to students succeeding at the university.
Scholarships are funds that don’t have to be repaid. Eligibility for undergraduates is generally determined through a holistic review of both financial need and academic merit. UT is committed to making a UT education affordable and supporting student success. Not having to worry about tuition payments enables students to benefit from the networking community, learning opportunities and work experiences that scholarships can offer.
Where can a UT student apply for a scholarship? Most UT scholarships require the submission of a Free Application for Federal Student Aid (or FAFSA). The 2020–21 FAFSA is available online at fafsa.gov or on the myStudentAid mobile app beginning October 1. The Office of Scholarships and Financial Aid encourages students to complete their FAFSAs by January 15, 2020, to be considered for the widest range of financial assistance. Students will still be able to submit a FAFSA after this date, but some aid may no longer be available.
Below are three of UT’s signature scholarship programs that can be applied for using the FAFSA. Each scholarship recognizes high-achieving students and supports student success and timely graduation.
Presidential Scholars Award
Incoming freshmen with excellent academic credentials and high financial need are selected for the prestigious Presidential Scholars program. Presidential Scholars are awarded up to $20,000 ($5,000 per year) over their four years at UT and may be eligible to receive additional funding to participate in an enrichment opportunity during that time.
University Leadership Network (ULN) Scholarship
ULN is a nationally recognized incentive-based scholarship program. Each year, 500 incoming freshmen with demonstrated financial need are selected to receive up to $20,000 ($5,000 per year for four years) and participate in ULN’s four-year program, which is focused on academic and leadership skills to facilitate timely graduation.
Texas Advance Commitment Award
The University of Texas System Board of Regents announced on July 9, 2019, a significant expansion of the Texas Advance Commitment to increase tuition assistance for UT students and make a UT education even more affordable. Starting in fall 2020, Texas students with family adjusted gross incomes (AGI) of up to $125,000 will be eligible for additional need-based aid to offset the costs of tuition. Tuition will be completely covered for families with an AGI of up to $65,000. With this expansion of the Texas Advance Commitment beginning in fall 2020, incoming and continuing students, including both first-time-in-college and transfer students, will be eligible.
Check out the grants, scholarships, loans and work-study options the UT Office of Scholarships and Financial Aid offers.