The University of Texas at Austin administers a large and diverse collection of endowed scholarships that provide assistance every year to undergraduate and graduate students. To be considered for any of the endowed scholarships, entering Freshman students must complete the Scholarship Section of the ApplyTexas Application, including the Financial Information section, and continuing and/or transfer students must complete the UT Austin Continuing & Transfer Scholarship Application. In some instances, applicants may be required to submit supplementary materials. The application provides instructions in those particular cases.

Using data gathered from the scholarship application, each respective scholarship committee reviews qualified applicants based on financial need, academic merit, and other criteria relevant to the particular endowment. Committees make their decisions in the spring, after the Admissions Office has made its offers of admission.

The criteria for maintaining eligibility and/or renewing an award differ by endowment. In many cases, a student must maintain a certain grade-point-average in order to continue receiving funds from the endowment. In other instances, there are many scholarships that are one-time awards and thus are not available for renewal.