Young, who retired from the NFL in June after six seasons, will serve as a development officer for program alumni relations, raising money for programs that help first-generation and low-income college students.
"The position with DDCE is a great way to stay connected to the university and help make a difference in the lives of underserved kids across the state," Young said in a statement.
According to the Austin American-Statesman, Young's position will pay him at least $100,000 a year. He begins work on Sept. 1.
"Vince's passion for the educational success of young people and his experiences as a first-generation college graduate make him a perfect fit for this role," Gregory J. Vincent, UT's vice president for diversity and community engagement, said in a statement. "We are excited about the enthusiasm and skill set he is bringing to our team and look forward to working with Vince."
Former Texas coach and current ESPN analyst Mack Brown posted his excitement on Twitter.
I'm excited VY will be back @ work @ Texas!
- Mack Brown (@ESPN_CoachMack) August 14, 2014Young finished his bachelor's degree at UT in applied learning and development last year while waiting for another chance to play in the NFL. Since his last pro start, with the Philadelphia Eagles in 2011, Young had struggled to catch on with another team. He was cut by the Green Bay Packers at the end of preseason last year and briefly signed on with the Cleveland Browns this spring after a minicamp tryout.
Young led Texas to a BCS national championship in 2005. He was 31-19 as a starter and threw for 8,964 yards and 46 touchdowns in his six years as a pro.
"Vince Young brought a national championship to Texas, returned to the Forty Acres to earn his degree and will now help other students reach their goals and change the world," UT president Bill Powers said in a statement.