Student-centric advice and objective recommendations
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University of Chicago Scholarships & Financial Aid
University of Chicago Financial Aid Overview
Cost of Attendance
Average net price
Average student loan debt
University of Chicago Cost
Cost of Attendance:
Books & Supplies
Room & Board
Total Sticker Price
The sticker price at UChicago is $81,531.00. This sticker price includes costs for tuition, books and supplies, room and board, and other miscellaneous expenses.
It’s also important to note that the cost of tuition can vary from year to year and you can expect the cost of tuition to rise over your four years in college. With that said, your financial aid will also be recalculated each year which will take into account any tuition increases.
University of Chicago Net Price
The sticker cost of University of Chicago is not actually what students will pay. Depending on factors such as student and parent finances, the actual cost can be lower. This price that takes financial aid into account is also known as a “net price.”
Net Price Paid
$0 - $30,000 family income
$30,001 - $48,000 family income
$48,001 - $75,000 family income
$48,001 - $75,000 family income
$110,000+ family income
If you use the Net Price Calculator, you should know that it only provides an estimate of financial aid. To actually apply for financial aid, you’ll need to submit the FAFSA and any other required financial aid forms to receive their official financial aid award letter. Also, the NPC does not include any outside scholarships that you might earn.
Ultimately, students can treat the Net Price Calculator as a useful gauge to understand what a potential financial aid package could look like.
University of Chicago Financial Aid
The FAFSA opens up on October 1st, and students should apply as soon as they can! The FAFSA uses financial information from the prior, prior year which means that you don’t need to wait for the year to end and can use last year’s financial information.
The FAFSA code for UChicago is 001774 and the CSS Profile Code is 1832.
It should be noted that while the FAFSA is free, the CSS Profile does require an application fee. However, students can qualify for a CSS Profile application fee waiver if the cost presents a financial hardship for the students’ family.
If you are looking for more information on how to complete the FAFSA or the CSS Profile, check out these resources:
Pell Grants at University of Chicago
11% of students at University of Chicago receive Pell Grants, which are awarded to undergraduate students with demonstrated financial need (students who have a bachelor’s or professional degree are not eligible). Pell Grants are awarded by the federal government and do not need to be repaid. To apply for a Pell Grant, students will need to submit their FAFSA. If you are awarded a Pell Grant, you’ll see it listed in your financial aid award letter if you are accepted to University of Chicago.
You can learn more about Pell Grant eligibility here.
No Loan Financial Aid Program
University of Chicago has a generous financial aid program which includes a “no loan” policy. This means that students admitted to UChicago will not receive any student loans in their financial aid package. For students, this means that your financial aid package will only include scholarships, grants, and work study.
UChicago Questbridge Scholarships
UChicago is a member of Questbridge, which is a prestigious scholarship program that supports high-achieving students from low-income backgrounds. Students who are “matched” to University of Chicago through Questbridge receive a four year, full ride scholarship to the school. If you are interested in learning more about Questbridge, you can check out our Questbridge Scholarship guide.
University of Chicago Student Debt
Student Loan Stats:
Average student loan debt payment per month
Average student loan debt
Student loan default rate
In addition to scholarships and financial aid, student loans are another way that students can pay for college. However, unlike other types of aid, student loans need to be repaid. This is why it’s so important to know how much student loan debt you are taking out.
7% percent of University of Chicago students take out federal student loans. The average student at University of Chicago takes out in student loan debt, which winds up being a $145.96 payment per month. The important thing to remember about these numbers is that they only include federal student loans and not private student loans.
Parent PLUS loans are another type of student loan that families may use to pay for college. While Parent PLUS Loans are offered by the federal government, they are not included in the above federal student loan metrics because they are not technically taken out by students. The median amount of Parent PLUS loan debt at UChicago is $52,029.00. Between 0% and 5% percent of parents of University of Chicago students will take out these Parent PLUS Loans.
If you want to learn more about Parent PLUS Loans, you can check out the pros and cons of borrowing them.
Is UChicago Worth it?
College is an investment, which is why it is important to assess the return on your education. To understand your return on investment or ROI, you will need to first understand what that investment will look like financially.
By completing the net price calculator, you will have a good sense of how much UChicago will cost you. This will also give you a sense of how much debt you can expect to graduate with.
Once you have a sense of your investment, you can think about your “return” or what you will get out of an education at University of Chicago. In other words, what types of outcomes can you expect?
The important factors to consider when thinking about outcomes are the graduation rate of the institution, as well as your expected earnings.
Here’s how UChicago stacks up:
- 6-year graduation rate: 14.61
- Median earnings (10 years after graduation): $76,730.00
Note that the average earnings will vary by both major and intended career, so this is not a perfect metric, but should serve as a good starting point.
University of Chicago Financial Aid Resources
If you are looking for more information about financial aid and scholarships at UChicago or have questions that are specific to your personal situation, we recommend that you reach out directly to the financial aid office!
We strive to provide users with the most up-to-date information and source data from publicly available sources, including the College Scorecard and directly from the colleges. If you see an error, feel free to contact us at [email protected].