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 (along with the FAFSA) is used to help us determine your eligibility for the University’s need-based grant aid. Note: Students who have completed the College Board’s CSS Profile may elect to submit this instead of our Financial Aid Worksheet. Please note that only one of these documents is required, that we remain able to issue the same types and amounts of aid to students regardless of the form chosen, and that the Financial Aid Worksheet is free to submit while the CSS Profile requires a fee for submission.
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 Free Application for Federal Student Aid (FAFSA), an online worksheet, and providing your tax returns. The University will assist you with a financial aid package to meet whatever financial need remains after your family’s contribution, a student contribution from savings and summer/term-time employment, and any non-University assistance (such as federal grants or corporate scholarships) are deducted from your educational costs.
The formula for determining your aid involves three steps. College Aid counselors begin by reviewing all financial aid materials you’ve submitted to determine your family’s resources. This holistic review determines the amount of your family contribution for one year. The family contribution will comprise contributions from student earnings, parent income, and family assets.
Your family contribution is then subtracted from the total cost of attendance. The cost of attendance represents actual and estimated costs for one year at UChicago, including tuition, housing, a meal plan, and estimates for additional costs like books and personal expenses. For 2016-2017, the total estimated cost of attendance is $72,717.
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 grants, scholarships, and work expectations. Federal Loans are available, if you wish to borrow.
The combination of your family contribution and your financial aid award from the University will meet the total cost of attending UChicago for an academic year. Financial aid awards are generally similar during your four years of enrollment, unless there is a significant change in your family’s finances.
Aid and Enrollment Requirements
In order to receive University grant aid, you must be enrolled full-time in the College, meaning that you are enrolled in at least in three full-time courses (300 units) each quarter. However, you may be eligible for federal and state aid if you are enrolled part-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 and you will lose any University grant funding. 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 and are not being charged for classes in a given quarter, all of your financial aid will be withdrawn during the quarter in question.
If 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.