by our College Data Analytics TeamHere you will find what students actually borrow to attend University of Chicago— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. The data below is drawn directly from federal sources.
At UChicago specifically, 5% of incoming students take out a loan to help cover first-year costs, borrowing on average $17,312 each — a figure that counts both private and federal student loans.
The typical federal loan comes to $4,925, amounting to 89.5% of the $5,500 first-year borrowing cap for the typical first-year dependent student. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
Among all degree-seeking undergrads at UChicago, 5% rely on federal student loans toward their education, at an average of $6,147 in federal loans per year. This works out to 24.8% larger than the first-year federal average of $4,925.
Repeating that yearly amount projects to about $12,294 across two years and $24,588 over a four-year span. This projection keeps yearly federal borrowing flat and excludes private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 5% |
| Average federal loan per year | $6,147 |
| Undergraduates with a federal loan | 359 |
| Total federal loans (one year) | $2,206,774 |
The middle borrower at UChicago owes $13,368 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $13,368 |
| Students who completed (graduates) | $15,000 |
| Students who withdrew | $6,500 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
The median hides the spread, so the percentiles below show cumulative federal debt at four points in the distribution for 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 |
How wide this percentile range is tells you how much borrowing varies across students at UChicago.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for UChicago.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 806 | $31,097 |
| Completed (graduates) | 652 | $33,297 |
| Did not complete | 154 | $24,736 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $395.94/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at UChicago.
Stafford vs Non-Stafford (any year)
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 755 | $30,000 |
| No Stafford loan | 51 | $61,657 |
Borrowers With a Stafford Loan This Year
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 532 | $31,500 |
| No Stafford loan this year | 274 | $30,000 |
The indicators below describe what the typical debt costs to pay back at UChicago.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. Two-year cohort default-rate data for UChicago appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 1.2% |
| Borrowers in the cohort | 2400 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
Borrowing varies by family income, by first-generation status, and by dependency status.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $8,250 |
| Middle income | $12,000 |
| High income | $14,500 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $13,783 |
| Continuing-generation students | $13,095 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at UChicago.
Subsidized vs. Unsubsidized Loans
Unsubsidized federal student loans accrue interest every month — even while you are still enrolled. Unless you pay that interest as it builds, the balance you owe at graduation can be noticeably higher than the amount you originally borrowed.
Important to Remember
Federal student loans are not discharged in bankruptcy in all but the rarest cases, and the government can withhold part of your income or tax refund if you default.
References
More about our data sources and methodologies.