Tag: mba financing

Exploring Scholarships and
Loan Options

We understand that pursuing your MBA at a top school is a big investment in your future. As you explore ways to further your education and accelerate your career trajectory, we invite you to think about defining your own return on investment (ROI).  Are you looking for a promotion or salary increase?  Or are you searching for a new challenge or a way to align your personal and professional aspirations? It may be all of the above, so define your ROI as you consider an MBA for your academic and professional future. 

To make your MBA future more attainable, Texas McCombs provides financial assistance to many students to help cover the cost of education. The most common financial assistance comes in the form of student loans, but other options may help fund your MBA. We invite you to review the options below to help facilitate your personal ROI for your MBA. 

Recruiting Scholarships

scholarship graphic - 75% of admitted students were award scholarships

Texas McCombs offers merit-based recruiting scholarships funded through the generous support of individual donors and corporate supporters. All applicants are automatically considered for recruiting scholarships during the admissions review process. Recruiting scholarships are offered to domestic and international candidates who demonstrate a superior record of academic merit and professional accomplishments. 

Texas McCombs designates the first-round application deadline as the priority deadline for scholarships and fellowships. 

The MBA Program’s scholarship funding varies from year to year, thus the percentage of students who receive scholarships will also vary from year to year.  This past admissions cycle, 75% of Admitted Full-Time MBA students received scholarship offers. Scholarships range from $2,000 to full-tuition awards. 

For International candidates, 75% of enrolled students received scholarship offers. 

In tandem with our recruiting scholarships, McCombs partners with Bay Area for McCombs, Consortium for Graduate Study in Management, Teach for America, Forté Foundation, and Reaching Out MBA to allocate selective scholarship and Fellowship designations to top admitted candidates. 

2nd Year Student Scholarships

At the end of the first year, Full-Time MBA students are invited to apply for a continuing student scholarship for their second year. These awards typically range anywhere from $1,000-$5,000. The 2nd Year Full-Time MBA Scholarship awards are given based on academic performance, leadership, and involvement during their first year in the program, as well as financial need. 

Institutional Scholarships

The UT Austin Office of Financial Aid administers institutional endowed scholarships for continuing students that first-year MBAs may qualify for, beginning in November of their first year. First-year MBA students may be eligible to apply, but please review the specific criteria and application procedures carefully and reach out to McCombs Financial Aid with any questions. 

Federal Loans

Many students are eligible for federal student loans and in some cases, grants. To determine your eligibility you must complete a Free Application for Federal Student Aid (FAFSA). The FAFSA for the 2022-2023 school year will be available on October 1, and Texas has a priority deadline of January 15. At the latest, it is recommended that you have your FAFSA completed by June 1. Students who are eligible to complete the FAFSA are U.S. Citizens, Permanent Residents, and other eligible non-citizens. Please watch this two-minute video for help with the financial aid application process. 

Private Education Loans 

Private/alternative loans are not offered by federal or state governments. As a result, the terms of the loan will vary from lender to lender. If pursuing a private loan, check with your lender about the length of time your application will remain valid to ensure your approval won’t expire before you actually start the program. 

The Texas McCombs MBA Financial Aid team cannot recommend any private loans but will work with all banks and lending institutions once you’ve been approved. 

Loans for International Students 

For international students, there may be private loan options, with or without a U.S. citizen or permanent resident co-signer. (Note: We, as The University of Texas at Austin, cannot be your co-signer, nor can we recommend any specific lenders.) The student-run International MBA Student Association (IMBASA) is a good resource for information about pursuing an MBA as an international student. You are encouraged to reach out to IMBASA with any questions. 


Most students finance their MBA education using multiple sources— a combination of personal savings and loans and, in some cases, scholarship funding. Before you apply to business school, do research on how to finance your education, please reach out to the MBA Admissions Team with any questions.

Visit Texas McCombs MBA to learn more about our programs and upcoming events, or take a peek into student life on Instagram. Check out our Application Process page for more information on application components.

Good luck and Hook ’em!

Full-Time MBA Scholarships & Financial Aid

We understand that pursuing your MBA at a top school is a big investment in your future. Our Full-Time MBA is proud to have consistently been named a Best Value among Top 20 MBA programs by U.S. News & World Report. Austin has also been named one of the best places to live and work in the U.S. and rated in the Top-5 Best Places to Live by U.S. News & World Report for 5 years in a row.

To make your MBA future even more attainable, the Texas McCombs MBA provides financial assistance to many students to help cover the cost of education. The most common financial assistance comes in the form of student loans, but other options may help fund your MBA. We invite you to review the options below to help you navigate your MBA application process.

Recruiting Scholarships

graphic that reads 63% of the Full-Time MBA Class of 2023 received scholarship offers

Texas McCombs does offer some recruiting scholarships, including cash awards and out-of-state tuition waivers. All applicants are automatically considered for recruiting scholarships during the admissions review process. Recruiting scholarships are offered to domestic and international candidates who demonstrate a superior record of academic merit and professional accomplishments.

Texas McCombs designates the first-round application deadline as the priority deadline for scholarships and fellowships.

The MBA Program’s scholarship funding varies from year to year, thus the percentage of students who receive scholarships will also vary from year to year.  This past admissions cycle, 63% of enrolled Texas McCombs MBA students received scholarship offers, and those who accepted merit-based recruiting scholarships received awards ranging from $5,000 to full tuition.

For International candidates, 70% of enrolled students received scholarship offers.

In tandem with our recruiting scholarships, McCombs partners with Bay Area for McCombs, Consortium for Graduate Study in Management, Forté Foundation, and Reaching Out MBA to allocate selective scholarship and Fellowship designations to top admitted candidates.

2nd Year Student Scholarships

At the end of the first year, students are invited to apply for 2nd Year MBA Scholarships. These awards, given by the McCombs School of Business through the generous support of individual donors and corporate supporters, typically range anywhere from $1,000-$5,000. The 2nd Year Scholarship awards are given based on academic performance, leadership, and involvement during their first year in the program, as well as financial need.

Institutional Scholarships

The UT Austin Office of Financial Aid administers institutional endowed scholarships for continuing students that first-year MBAs may qualify for, beginning in November of your first year. You may be eligible to apply, but please review the specific criteria and application procedures carefully and reach out to McCombs Financial Aid with any questions.

Federal Loans

Many students are eligible for federal student loans and in some cases, grants. To determine your eligibility you must complete a Free Application for Federal Student Aid (FAFSA). The FAFSA for the 2021-2022 school year will be available October 1, and Texas has a priority deadline of January 15. At the latest, it is recommended that you have your FAFSA completed by June 1. Students who are eligible to complete the FAFSA are U.S. Citizens, Permanent Residents, and other eligible non-citizens. Please watch this two-minute video for help with the financial aid application process.

Private Education Loans

Private/alternative loans are not offered by federal or state governments. As a result, the terms of the loan will vary from lender to lender. If pursuing a private loan, check with your lender about the length of time your application will remain valid to ensure your approval won’t expire before you actually start the program.

The Texas McCombs MBA Financial Aid team cannot recommend any private loans but will work with all banks and lending institutions once you’ve been approved.

Loans for International Students

For international students, there may be private loan options, with or without a U.S. citizen or permanent resident co-signer. (Note: We, as The University of Texas at Austin, cannot be your co-signer, nor can we recommend any specific lenders.) The student-run International MBA Student Association (IMBASA) is a good resource for information about pursuing an MBA as an international student. You are encouraged to reach out to IMBASA with any questions.


Most students finance their MBA education using multiple sources— a combination of personal savings and loans and, in some cases, scholarship funding. Before you apply to business school, do research on how to finance your education and let us know if you have any questions.

Visit Texas McCombs MBA to find out more about all our programs, submitting your application, and upcoming events. Hook ’em!

Your MBA Return on Investment

 

Pursuing an MBA is a significant commitment of time and financial resources. At Texas McCombs, we understand that finding the best return on your MBA investment (ROI) is a priority. We are proud to have been consistently named a “Best Value” among Top 20 MBA programs!

In addition to (McCombs) having the lowest tuition and fees out of the top 20 schools for the last two years, McCombs’ grads had the largest gap between how much students made after graduation and how much they owed." U.S. News, 2017

As you evaluate the ROI for business schools you are considering, remember that the benefits of a top-ranked MBA go way beyond the potential for a higher salary.  Growing your professional network, and the expansion of knowledge and skills should also play a role in evaluating  ROI.

 

Expand Your Network

Texas McCombs is a globally recognized brand. When you join the program, you gain priceless membership in a lifelong alumni network that will continue to support and accelerate your career. Our alumni take great pride in giving back to this campus by helping mentor, support – and often hire – Texas McCombs students. Being a UT Austin alumni connects you to the most innovative leaders, thinkers, and doers around the world. You are a Longhorn for life.

The Texas McCombs and UT Austin Network

500,000+ UT Alumni
25,000+ MBA Alumni
100,000+ McCombs Alumni
30+ McCombs Alumni Chapters

 

The Numbers

Of course tuition and living costs are also considered in your ROI. Your individual considerations will vary when it comes to funding your MBA, but it’s always good to note current estimated tuition for the year you plan to start the program, cost of living, and any anticipated scholarships or financial aid.

Texas McCombs MBA Tuition

Current estimated annual tuition rate for the Full-Time MBA is $51,020 for Texas residents and $56,572 for non-Texas residents.

Texas McCombs MBA compares favorably against the national averages of $60,000 & $65,000, respectively, charged by other top 20 MBA programs at public universities. And the average annual tuition rate for private institutions in the top 10 is $72,485.

On average, 40-45% of admitted Texas McCombs Full-time MBA students receive scholarship offers.

Cost of Living in Austin

The cost of living in Austin is less than in many major cities. What costs $1 here is:
$1.56 in New York,
$1.43 in San Francisco,
$1.32 in Boston,
$1.30 in Los Angeles,
$1.29 in Seattle, and
$1.18 in Chicago

Texas consistently ranks as one of the nation’s most favorable business climates. Read more about the cost of living here.

 

Knowledge & Skills

While most graduate programs narrow your subject matter expertise through extensive research activities on a specific topic, an MBA curriculum allows you to learn about a variety of industries and business functions resulting in increased flexibility in potential career paths.

Texas McCombs is currently ranked in the top 3 for Business Analytics, Marketing and Accounting– we are consistently no. 1 for Accounting.  The MBA also offers a new “Leading for Impact” curriculum component to provide focused individual assessment & leadership coaching within your MBA.


The value of your graduate degree is measured in more than dollars and cents. If you have any questions about the opportunities offered at Texas McCombs or how your goals may fit with our program, please reach out to us.

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