Student Loans for University of Chicago Students
About University of Chicago
The University of Chicago (also referred to as UChicago) is a private research university located in the south side of the Windy City. Notably, UChicago is quite famous within academic and intellectual communities, as the university is one of the best centers for research in Illinois. With nearly half a million dollars going towards research awards every year, nearly 16,000 students are enrolled in the university’s various programs, benefiting from the 2,000-strong faculty that includes 87 Nobel Prize laureates.
University Financial Aid
Obtaining University of Chicago financial aid is a great way of funding your dreams of a higher education regardless of your financial standing, so if you are unable to afford tuition, you can take advantage of the student aid provided by the University of Chicago. The application process for UChicago financial aid is fairly simple and straightforward: all you have to do is fill out the FAFSA, which can be done online at fafsa.ed.gov. If you wish to apply for non-federal aid, you must also complete a CSS Profile online. Furthermore, in order to apply for Merit scholarships, you must complete just the UChicago Aid Application and submit it online.
University of Chicago financial aid includes a number of scholarships and grants, including Federal Pell grants, state grants, university assistance and Federal Supplemental Education Opportunity Grants (FSEOG). Grants and scholarships are the best choice when it comes to financing an education, as you do not have to pay them back. You may also apply for federal student loans such as the Perkins and the Stafford, which are issued at low rates of interest and also come with flexible repayment terms. Additionally, you may take advantage of the federal work- study program and term-time employment at the University of Chicago.
Private Student Loans and University of Chicago
If your University of Chicago financial aid award does not sufficiently cover your expenses, then you may opt for private student loans in order to obtain the money you need in order to pay for tuition or other expenses. You can use our Student Loan Comparison Tool to find the private student loans that best suit your needs.
Students should estimate the cost of attendance before applying for University of Chicago financial aid, as this estimate plays a crucial role in a student’s financial aid application. When applying for University of Chicago financial aid, students should include tuition costs, room & board expenses, books & stationary costs, transportation costs, and personal expenses.
What kind of assistance does University of Chicago financial Aid offer?
Students who have applied for financial assistance receive an aid package equal to the cost of attendance. The aid packages consist of loans and scholarship funds. While loans-federal or private-have to repaid, scholarships are gifts that do not need to be paid back. Lastly 1L students cannot participate in Federal Work-Study programs.
Pay for University of Chicago*
|Total Avg. Cost||$57,590|
|Room & Board||$12,153|
|Financial Aid Information|
|Students Receiving Fin Aid||72%|
|Typical Grant Amounts|
|Avg. Other Stud. Loans||$6,440|
|%Receiving Other Loans||4%|
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*Data source is the Integrated Postsecondary Education Data System (IPEDS) the data collection program for the National Center for Education Statistics