by our College Data Analytics TeamFinancial aid in the form of loans, grants, work-study, and scholarships is one way colleges reduce the cost of attendance so most students can actually afford to attend.
The amount of financial assistance and scholarships or grants you can get varies based on your circumstances. Keep reading to learn more to help you to know just how much aid and scholarships to expect from UT Austin.
$10,474.00 is the typical The University of Texas at Austin’s first year financial aid package. Financial aid is provided to about 66% of first-year students, with the bulk of support coming in the form of grants and scholarships.
Financial aid helps lower the cost, or the full retail price of the institution. But bear in mind that the only true college discount is scholarships & grants.
Student debt really should be considered to be an added expense and not as “aid” or a “discount”. Find more about student loan debt at The University of Texas at Austin.
Institutional scholarships and grants refer to financial aid provided directly by a college or university to support students in covering their educational expenses. These awards can be either merit-based or need-based and do not require repayment. Merit-based institutional scholarships reward students who have demonstrated exceptional academic achievements, talents, or skills in specific areas. Such scholarships often take into account a student’s high school performance, standardized test scores, or extracurricular activities. On the other hand, need-based institutional grants are allocated to students who exhibit financial need. The amount awarded is usually determined by the student’s family’s financial circumstances and aims to cover the difference between the cost of attendance and the family’s capacity to pay. To assess eligibility for need-based grants, colleges and universities may use information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants play a crucial role in assisting students, as they can considerably lower the cost of college and make higher education more attainable.
The numbers listed below make reference to help that is offered by The University of Texas at Austin.
40% of first-year students (3183 total) were offered scholarships at The University of Texas at Austin, averaging $5,461.00 per person. This puts it in the top 50th percentile among colleges and universities nationwide.
In addition to scholarships, 30% of first years (2416 total) were awarded federal grant aid, averaging $5,074.00 each.
The table below demonstrates scholarship and grant allocations by income level for freshmen receiving any type of federal Title IV assistance, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 10.93% | $13,644.00 |
| Income 30k-48k | 6.78% | $12,420.00 |
| Income 48k-75k | 6.91% | $11,263.00 |
| Income 75k-110k | 5.01% | $6,972.00 |
| Income 110k + | 2.71% | $1,509.00 |
The table above shows students who are obtaining Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
Of the 8007 undergraduate students at The University of Texas at Austin around 66% (3781 total) receive some form of grant aid. The typical amount awarded was $10,474.00.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.