List price for non-Texas residents studying engineering is $66k, according to Cost & Tuition Rates - Texas One Stop - University of Texas at Austin . The net price calculator shows no need-based financial aid for non-Texas residents: Net Price Calculator - University of Texas at Austin .
Even just admission should be considered a reach for students outside the top 6% in Texas whose automatic admission consumes about 3/4 of the space (and top 25% rank will be very uncompetitive there in non-automatic admission). The engineering division is additionally uncompetitive. But more than admission is needed; a significant merit scholarship is needed to bring the price under your $50k limit.