The University of Chicago offers many types of financial aid. By completing the Free Application for Federal Student Aid (FAFSA) you are applying for all of the aid programs the federal government has to offer as well as any programs your home state may provide. The UChicago Financial Aid Worksheet (or optional College Board’s CSS Profile) is used to help us determine your eligibility for the University’s need-based gift aid.
How Aid is Determined
To determine your family’s contribution to your education costs, you and your family provide us with financial data by completing the UChicago Financial Aid Worksheet (or optional CSS Profile) and Free Application for Federal Student Aid (FAFSA). If appropriate, families must also complete the non-custodial profile. The University will assist you with financial aid to meet whatever financial need remains after your family’s contribution, your contribution through work and loans, and any non-University assistance (such as federal grants or corporate scholarships) are deducted from your educational costs.
The formula for determining your aid is divided into three simple steps. Financial Aid Counselors start with the total cost of a year’s education at UChicago, which includes tuition, housing, and a meal plan – but also the other expenses you will incur, like buying books, traveling home, and taking care of personal expenses. For 2017-18, the total cost of attendance is $74,526.
Your family contribution is then subtracted from the total cost. Your family contribution is determined by looking at your family’s resources, including income and assets, as determined by the information you submitted on the UChicago Financial Aid Worksheet or CSS profile and a review of your family’s tax returns.
The difference between the total cost and your family contribution is your family’s demonstrated financial need, which determines the amount of university support we will offer you.
At the University of Chicago, we pledge to meet 100% of your family’s demonstrated need through a combination of gift-aid (grants) and self-help aid (student work expectation).
The combination of your Expected Family Contribution and your Financial Aid Award from the University will meet the total cost of attending UChicago for an academic year.
Aid and Enrollment Requirements
In order to receive University gift aid you must be enrolled full time. Full time in the College is enrollment in three (3) full time courses (300 units) each quarter. However, you may be eligible for federal and state aid if you enroll less than full time.
If you drop a class within the add/drop period and your enrollment status changes from full time to half time, your financial aid will be adjusted to reflect half time status. This means, you will lose all of your grant funds. If you drop a class and receive no tuition refund, you will be allowed to keep your grant funds since you have been charged for a full time course load.
If you completely withdraw from the University, all of your aid will be removed if you are not being charged for classes during the quarter in question.
In any instance where you are thinking of dropping a class or withdrawing from the University we highly recommend that you speak with a counselor in the Office of College Aid prior to taking any action.
Aid and Academic Progress
A first year student must complete at least 7 classes in order to be eligible for financial aid for the following year. Each subsequent year a student must complete at least 70% of all classes attempted cumulatively in order to maintain eligibility for financial aid programs.