Financial Aid

The Office of Financial Aid provides up-to-date information about the Law School’s Cost of Attendance, and federal, state and institutional regulations regarding financial aid. We also work with law students to navigate the processes of obtaining financial support and to develop realistic budgets to meet students’ educational and professional goals.

Please visit the links under Financial Aid to learn more about, among other things, the Types of Financial Support offered at Texas Law, The Scholarship and Financial Aid Process, and The Cost of Attendance at Texas Law.

All Texas Law students are welcome to walk-in or schedule an appointment with one of our two financial aid counselors, Mario Villa or Shirley Cannon. Please visit the Contact Us link under Financial Aid to contact our office.

 

News and Announcements

FAFSA Available Starting October 1, 2017

The new 2018-19 Free Application for Federal Student Aid (FAFSA) is available for completion starting Oct. 1, 2017 on the FAFSA website.

Students applying for financial aid for the semesters listed below should submit the FAFSA to UT-Austin using our school code, 003658.

Applicants are required to create an FSA ID/password combo.  An FSA ID is a username and password that you must use to log in to certain U.S. Department of Education (ED) websites. To create a FSA ID, please go here.

Your FSA ID is used to sign legally binding documents electronically. It has the same legal status as a written signature. Don’t give your FSA ID to anyone—not even to someone helping you fill out the FAFSA. Sharing your FSA ID could put you at risk of identity theft!

New Interest Rates for Federal Student Loans

On May 10, 2017, the U.S. Treasury’s 10-year Treasury note auction resulted in an increase in interest rates for federal student loans disbursed on or after July 1, 2017. The interest rates will be fixed for the life of the loan.

Since 2013, interest rates on federal student loans have been set annually according to the 10-year Treasury note rate, plus a fixed percentage that differs by loan type (e.g., subsidized Stafford, unsubsidized Stafford, PLUS).

Interest rates for federal law school loans first disbursed on or after July 1, 2017, along with a comparison of the last two years, are as follows:

Direct Loan Unsubsidized (up to $20,500 annually)
2015-2016 – 5.84%
2016-2017 – 5.31%
2017-2018 – 6.00%

Graduate PLUS loans (up to the Cost of Attendance)
2015-2016 – 6.84%
2016-2017 – 6.31%
2017-2018 – 7.00%

New Guides & Updated Student Loan Calculator from the Access Group

The Access Group is a nonprofit membership organization comprised of nearly 200 nonprofit and state-affiliated ABA-approved law schools. The Access Group has recently released two new guides and updated its Student Loan Calculator:

(1) Financing Your Legal Education which helps students understand the costs of pursuing a legal education and offers tools and resources to assist with understanding the financial application process.

(2) Federal Student Loan Repayment The Road to Zero provides information on how to pay down your student loans to a zero balance.

(3) Student Loan Calculator calculates law school loan amounts so you can make informed decisions on your borrowing and repayment options.