Borrowing loans to pay for your legal education is a very important decision and the primary financial support for many students. Our goal is to educate students on the many factors involved in healthy borrowing, understand the different types of loans available, and to help students develop strategies to minimize overall indebtedness. Combined with our affordable tuition and Cost of Attendance, the investment in a Texas Law degree is why we are consistently viewed as the best return on investment.
Federal Loans
There are two federally funded student loan options for eligible students, the Direct Unsubsidized Loan and the Graduate PLUS Loan.
- Direct Unsubsidized Loan is not based on financial need. Students may borrow an annual maximum of $20,500 and up to the maximum aggregate of $138,500 during the course of a student’s educational career. The 2024-25 interest rate is 8.08%.
- Graduate PLUS Loan is based on a borrower’s credit worthiness. Eligible students may borrow up to the Cost of Attendance less any other financial assistance. The 2024-25 interest rate is 9.08%.
While non-U.S. citizens or ineligible noncitizens may not borrow under the Direct Loan program, they may however, be eligible for loans through private lenders.
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To apply for federal loans, eligible students must first complete the Free Application for Student Aid (FAFSA). The FAFSA is available each year on October 1 and the UT Austin’s school code is 003658.
While non-U.S. citizens or ineligible noncitizens may not borrow federal student loans, they may however, be eligible for loans through private lenders.
Helpful Hints
- We encourage students to submit their FAFSA by January 15, the priority submission date, even before you receive an admissions decision.
- Students who do not intend to borrow any federal loans should still submit a FAFSA if they wish to be considered for scholarships and grants, which require a FAFSA submission.
The University will notify admitted students of their financial aid award through email when it is ready.
Private Loans
Some students may choose to borrow loans from private lenders instead of federal loans. Private loans require an established credit record (or an eligible cosigner) and are, in general, more expensive (e.g., variable interest rates and/or additional fees). Moreover, students who borrow private loans do not benefit from the many protections provided by the Department of Education (e.g., forbearance and deferments), the income-driven repayment plans, or any federal public loan forgiveness programs available to students who borrow federal loans. We encourage students who are considering borrowing private loans to contact our Office of Financial Aid at lawfinaid@law.utexas.edu for financial counseling and 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 more information.