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.
Texas McCombs is ranked No. 20 and is one of the most affordable MBA programs compared to the other top 20 programs in U.S. News and World Reports Top 20 Business Schools of 2023. Tuition is $52,550 for Texas Residents and $58,720 for residents out-of-state.
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
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.
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, 77% of Admitted Full-Time MBA students received scholarship offers. Scholarships range from $2,000 to full-tuition awards.
For International candidates, 86% 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 a student’s academic performance, leadership, and involvement during their first year in the program, as well as financial need.
Institutional Scholarships
The UT Austin Office of Scholarships and Financial Aid (OSFA) administers institutional endowed scholarships for continuing students. First-year MBAs may qualify for these scholarships and can begin applying in November of their first year. Students should 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. You must complete a Free Application for Federal Student Aid (FAFSA) to determine your eligibility. This year, the FAFSA for the 2024-2025 school year will be available in December 2023 with a priority deadline of March 15, 2024. It is recommended you have your FAFSA completed by June 1, 2024. Students who are eligible to complete the FAFSA are U.S. Citizens, Permanent Residents, and other eligible non-citizens.
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.
For ethical reasons, the McCombs MBA Financial Aid team cannot recommend any private lenders but will work with all banks and lending institutions once you’ve been approved. If you have any questions about the loan, please contact the lender.
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.
If you have any questions during the application process, we’re here to help. Please visit our website for details on applying to each program and follow us on Instagram for an inside look into the Texas McCombs MBA.
Good luck and Hook ’em!
