Financial Wellness Resources
Financial wellness is a priority we have for all of our students. Students should create realistic budgets to estimate living expenses and strategize to reduce spending. For example, consider sharing housing costs with a roommate rather than living alone while in law school, monitor food and entertainment expenses, and consider bringing lunch rather than eating out. While law school may be an excellent long-term investment, student loans must be repaid (with interest), so good financial decisions now will set you up for success in the future.
Preparing Your Law School Finances
Take a moment to review Preparing Your Law School Finances to help you get started.
AccessLex Financial Aid Topics
We partner with AccessLex who provides a wealth of free literature about financial wellness, loan repayment, and other financial aid topics including:
- 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.
- The Road to Zero: A Strategic Approach to Student Loan Repayment provides information on how to begin and navigate the student loan repayment process.
- Student Loan Calculator is a useful tool to help project the overall cost of borrowing loans so you can make informed decisions on your borrowing and repayment options.
Texas Financial Wellness
In addition, the University’s Texas Financial Wellness offers a wealth of resources to improve your financial health and security. Through one-on-one counseling and workshops, Texas Financial Wellness can give you the tools and resources you need to make healthy financial decisions during your academic career and beyond graduation.
Undocumented Students
While undocumented and immigrant students are ineligible for federal financial aid, students are eligible for institutional aid including grants and scholarships. Students are encouraged to submit a Texas Application for State Financial Aid (TASFA) to determine aid eligibility. We also encourage students to explore other financial opportunities:
Cost of Attendance Adjustments
While the annual Cost of Attendance (COA) budget is set by the University and has been deemed sufficient to cover reasonable expenses to attend Texas Law, there are circumstances where students may increase the annual budget to include other expenses that may arise and warrant an increase.
Common COA adjustments include:
- Student health insurance premiums
- Childcare expenses
- Costs for professional licensure (e.g., bar exam fees)
- Equipment (e.g., computer of laptop purchase)
Please note that if you are borrowing federal student loans to cover your expenses, increasing your COA will increase your overall loan indebtedness. The decision to increase the COA should be made with great care and consideration. For students who are in the market for new computer equipment, the Campus Computer Store offers students academic discounts from Apple, Dell, Lenovo as well as on software and accessories.
Requests are accepted beginning August 1. Please allow 3-5 business days to review your request and do not hesitate to contact our Office of Financial Aid at lawfinaid@law.utexas.edu with any questions or for guidance.
Other Financial Aid Requests
In addition, students may also have other specific financial aid needs, for example:
- return unused federal loans after disbursement
- request scholarship information for physically disabled students
Requests are accepted beginning August 1. Please allow 3-5 business days to review your request and do not hesitate to contact our Office of Financial Aid at lawfinaid@law.utexas.edu with any questions or for guidance.
Emergency Loans
The University of Texas and the Law School have programs that may assist already enrolled students who experience gap in funding before/inter academic terms and in emergency financial situations. Students who are experiencing financial difficulties should contact our Office of Financial Aid at lawfinaid@law.utexas.edu for guidance.