UT4Less: Making your UT Austin education more affordable!

Loans and Credit Cards

If you need to borrow money, consider borrowing a federal or state loan before turning to alternative loans. Federal and state loans often have lower interest rates and more attractive repayment terms than an alternative loan from a private bank.

If you use a credit card, be mindful of how much you’re putting on credit: Using a credit card is spending future income at a price, and that price is the interest you accrue when you borrow money now and pay it back later. It’s ideal to pay off your credit card balance each month to avoid accruing interest and increasing your balance. Not paying your credit card can lead to high fees, higher interest rates, and poor credit. Visit Annual Credit Report to get your free annual credit reports to help you keep track of your credit history.

To determine how long it will take you to pay off a credit card balance, see Bankrate's Credit Card Calculator.

When it comes to spending, it’s also important to recognize the difference between wants and needs. Needs may be psychological, physical, or necessary for survival — and satisfying a need doesn’t always cost money! Wants usually provide a person with extra convenience or comfort. Take the time to prioritize your needs and wants in order to decide how best to spend your money.

Bevonomics

The Office of Student Financial Services administers Bevonomics, a personal money management education program for UT Austin students. The Bevonomics program provides information and resources that empower students to make financially responsible decisions. Bevonomics workshops help increase awareness of consumer debt while expanding the knowledge and importance of daily money management.

Visit Bevonomics for seminar dates, plus budgeting, savings, and credit resources.