Since you are applying to a not very competitive major (psychology in the college of liberal arts), you should have a good chance if you really rake your SAT up (I would recommend 1500+) and have at least one thing that would be unique to you as to why you should be admitted to psychology specifically. 1500 may be hard, but if your dream school really is UT, and you really want to get in, just try as hard as you possibly can. It is a small price to pay of grinding for a month or a couple and getting a really good score on June/ August SAT to be able to attend UT Austin for four whole years and have that on your record forever. Also have some kick-ass essays. Ask for help, ideas, revisions, everything.