by our College Data Analytics TeamMany students will not be asked to pay the full sticker price of a school. Rather, they are offered a financial aid plan that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The sum total of attendance at University of Chicago can sound tremendous, but do not forget that almost all students get some type of financial help.
What financing options does UChicago offer, and what will you qualify for? Keep scrolling for more information. Keep going to find out how much school funding will be available to you.
How much aid you qualify for depends largely on your family’s financial circumstances. Use the information below to understand how much financial assistance you may get from University of Chicago.
Financial aid, in the form of loans, grants, work-study, and scholarships, is one way colleges reduce the cost of attendance so most students can actually afford to attend. Some kinds of aid are clearly preferable to others, and outcomes differ across students.
Looking at the entering class at University of Chicago, 51% of new full-time first-years were awarded at least some aid around 828 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 47% | $62,300 |
| Institutional grants & scholarships | 47% | $58,947 |
| Federal Pell grants | 16% | $6,356 |
| State/local grants | 4% | $8,352 |
| Federal student loans | 4% | $4,925 |
The best aid is gift aid: grants and scholarships that carry no repayment obligation. At UChicago, roughly 49% of undergraduates were awarded grant or scholarship aid averaging $53,683 (among about 3755 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 49% | $53,683 |
| Federal Pell grants | 15% | $6,048 |
| Federal student loans | 5% | $6,147 |
Among title-IV aid recipients living on campus, grant and scholarship aid averaged $75,500.
The figures below show the average net price — cost after all grant and scholarship aid — broken out by family income.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $-793 |
| $30,001 – $75,000 | $264 |
| Over $75,000 | $45,026 |
Each amount is the average cost remaining once grant aid is subtracted, by income band.
The net price represents the average annual cost a title-IV-receiving student pays after grant aid is subtracted from the full cost of attendance.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $14,860 |
| Off-campus title-IV students | $18,967 |
For an estimate tailored to your family circumstances, see UChicago’s online cost calculator: financialaid.uchicago.edu/undergraduate/resources-and-tools/net-price-calculator/.
Graduating students at UChicago carry a median federal student debt of $13,368 in federal loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $13,368 |
| Median federal debt (graduates only) | $15,000 |
| Typical 10-year monthly payment (graduates) | $159.02/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
A single median figure conceals how much debt outcomes differ student to student. Use the percentiles below to see the debt range at UChicago.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,200 |
| 25th percentile | $6,300 |
| 75th percentile | $23,880 |
| 90th percentile (highest-debt students) | $27,000 |
The figures below break down median federal debt by income tier, first-generation status, and dependency.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $8,250 |
| Middle income | $12,000 |
| High income | $14,500 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $13,783 |
| Continuing-generation students | $13,095 |
The Department of Education computes summary indicators that describe debt outcomes at a glance. UChicago.
The Stafford loan program is the largest source of federal direct loans to undergraduates. The aggregate figures below show how active the program is at UChicago:
| Metric | Value |
|---|---|
| Stafford loan recipients | 20813 |
| Total Stafford loan amount | $675,694,377 |
If you are a veteran or active-duty service member, the GI Bill and DoD Tuition Assistance are the primary federal programs you can use at this school.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 245 |
| Total GI Bill amount | $9,800,492 |
| Average GI Bill amount per recipient | $40,002 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 3 |
| Total DoD amount | $7,167 |
| Average DoD amount per recipient | $2,389 |
References
More about our data sources and methodologies.