CollegeCalc Highest List Price Rank - 12th

Annual Costs

Undergraduate Tuition

Tuition for University of Chicago is $53,292 for the 2017/2018 academic year. This is 92% more expensive than the national average private non-profit four year college tuition of $27,755. University of Chicago is one of the 100 most expensive colleges in the America, coming in 12th on our Expensive 100 Ranking. The cost is 115% more expensive than the average Illinois tuition of $24,843 for 4 year colleges. Tuition ranks 71st in Illinois amongst 4 year colleges for affordability and is the most expensive 4 year college in the state. Price does not vary by residence.

The school charges an additional fees of $2,742 in addition to tuition bringing the total effective in-state tuition to $56,034.

Housing Costs

On campus room and board is provided by the school at a cost of $15,726 per academic year. Students electing to live off campus elsewhere in Chicago should budget at least this amount.

Books and Supplies

The estimated annual cost for books and supplies is $1,800.

Other Living Expenses

If living on-campus, students should budget for $2,175 in additional living expenses. Off-campus students should budget for $0 in other miscellaneous living expenses.

Total Costs

The annual tuition and living expense budget to go to University of Chicago was $75,735 for the 2017/2018 academic year. The cost is the same for all students regardless of Illinois residence status as there is no in-state discount.

Citation: Price data from the U.S. Department of Education's 2017-2018 and 2016-2017 IPEDS survey response for University of Chicago and represent reported costs for the 2016-2017 and 2015-2016 academic years.

Costs and Tuition for University of Chicago
Estimated Budgets
Illinois Resident Total Budget $75,735
   In-State Tuition$53,292
   Other Fees$2,742
   Room and Board$15,726
   On-Campus Other Budget$2,175
   Books and Supplies$1,800
Non-Resident Total Budget $75,735
   Out-of-State Tuition$53,292
   Other Fees$2,742
   Room and Board$15,726
   On-Campus Other Budget$2,175
   Books and Supplies$1,800


What it Really Costs

Depending on many factors including student and parent income and assets, the total cost of attendance may be less than the $75,735 published price if scholarship or grant aid is made available to you.

Net Price

The net out-of-pocket total cost you end up paying or financing though student loans is known as the net price. The reported University of Chicago net price for in-state students is $34,352* for the 2014/2015 academic year. This net price includes housing and meal expenses.

Pell Grants and other Grant Aid

63% of University of Chicago students received grant aid in 2014/2015. The average total aid amount was $30,636. 11 percent of students received aid in the form of Pell Grants from the U.S. Federal Government. The average Pell Grant awarded for 2014/2015 was $4,253. To apply for a Pell Grant to attend University of Chicago, the first step is to fill out the Free Application for Federal Student Aid (FAFSA).

Net Price and Financial Aid for University of Chicago
Financial Aid Summary
Average Annual Net Price$34,352*
Percent of Students Receiving Grant Aid63%
Average Total Grant Aid$30,636
Percent of Students Receiving Pell Grants11%
Average Amount of Pell Grant Aid$4,253

Average Net Price by Family Income

The average net total cost of attendance for different levels of family income after federal, state or local government, institutional grant and scholarship aid are awarded. Data last published for the 2014/2015 academic year.

Family Income Avg. Net Price
$0 to $30,000$8,964
$30,001 to $48,000$6,582
$48,001 to $75,000$12,350
$75,001 to $110,000$23,674

Average Financial Aid Mix - $75,735 In-State Total Cost

CollegeCalc has estimated typical coverage of the annual in-state tuition and living expenses of $75,735. Breakdown is based on average grant aid and federal loan aid which will vary based on your family income.


Grants and Scholarships

 42% - $30,636

Money granted to you by the U.S. Department of Education, University of Chicago or other organizations. These are not loans and do not need to be repaid.

Federal Loans

 6% - $4,757

Low interest student loans funded by the U.S. Department of Education. This amount will need to be repaid.

Out of Pocket

 52% -  $38,167

Covered by family savings, work or private student loans which you will have to repay.

*Reported Average Annual Net Price for students receiving grant or scholarship aid reported to the U.S. Department of Education's Academic Year 2014-2015 IPEDS Survey. Financial aid is only available to those who qualify. Consult this school's net price calculator for further understanding of your potential net price.

Note that for colleges with no reported on-campus room and board, the average net price has been increased to account for living expenses. This number may not only reflect the net price paid to the school for tuition.

Is it Worth the Cost?

To make a comparative assessment if University of Chicago is worth the price, measures of it's relative value for tuition dollar can be examined. We've calculated an academic national percentile rating of 99/100 for University of Chicago. Considering an average net price paid of $29,924, this leads to an overall value ranking of 65/100. This places the school 137th on our national Best Value Colleges ranking as a provider of a very high value education compared to actual overall price paid.

Tuition Comparison to Similar Private Colleges in the Region

School Cost vs. University of Chicago
Northwestern University2% less expensive
University of Notre Dame4.3% less expensive
Washington University in St Louis5% less expensive
Grinnell College6.2% less expensive
Oberlin College1% less expensive

Cost of a Degree

When considering ability to pay for college, the annual cost is often discussed but it's the "all in" multi-year degree cost which matters in the end. Let's take a look at what it could really cost for four years at University of Chicago.

Estimated 4 Year Cost at Published Tuition

At the current published rates, an estimated total tuition, fees and living expense price for a 4 year bachelor's degree at University of Chicago is $302,940 for students graduating in normal time. This methodology for estimating the 4 year cost is a straight multiple of the most recent reported annual total cost and does not factor in tuition increases during the time you're in school. It also assumes you receive no grant or scholarship aid and pay the full list price.

A potentially more accurate but less conservative estimate of a degree cost can be made by using the school's annual $29,924 in-state net price as the basis. Applying this cost over 4 would estimate the cost of a degree at $119,696**

If you end up on the "five year plan" and need an additional year to graduate, your five year cost could be as high as $378,675 or $149,620 using an average net price.

**Based on a 4 year multiple of Average Annual Net Price for students receiving grant or scholarship aid reported to the U.S. Department of Education's 2014-2015 IPEDS Survey. Financial aid is only available to those who qualify. Consult this school's net price calculator for further understanding of your potential net price.

Other Costs

Cost Per Credit Hour and Cost for a Class

Some schools offer the ability to take single classes by paying on a per credit hour basis. The reported price per credit hour and estimated cost for one class at University of Chicago are as follows. Per credit costs are for reference only as many schools will not allow students to pay by credit hour.

Cost per credit hour and per class at University of Chicago
Price per credit hour$1,776
Cost for one class (3 credit hours)$5,328
Cost for one class (4 credit hours)$7,104


Student Loans and Debt

The second consideration after understanding the cost of college is determining how to finance it. Some students are fortunate enough to have some form of family financial assistance, but student loans end up financing a significant portion of higher education in the U.S. 20% of University of Chicago students receive U.S. Federal Student Loans with an average annual Federal Loan aid amount of $4,757. The reported average student debt upon graduation is $23,978.

Example Loan Payments and Costs

How much are student loan payments for University of Chicago? Obviously this varies based on a number of factors - offsetting financial aid you receive, percentage of fee you pay upfront while enrolled and the interest rate on your loans. We've modeled a sample student loan based on current Stafford loan rates to give you an approximate idea.

The following are the costs for a loan if you borrowed $119,696, 100% of the estimated average net price for a four year program and paid nothing while enrolled. The total of all payments including interest would sum $148,515.29. This could be your effective total out of pocket cost of an education at University of Chicago. Note that this calculation assumes you don't pay full list price tuition, are part of the reported 63% of students at this school who receive financial aid and you are paying an average annual net price of $29,924. If you do not financially qualify for a reduced net price, your student loan payments could be significantly higher than this example. Use our University of Chicago student loan calculator below to change loan assumptions and recalculate.

Student loans are not free money and must be repaid. You cannot dismiss student loans by via bankruptcy.

University of Chicago Student Loan Payments
Example Payments
Monthly Loan Payment$1,237.63
Amount Borrowed$119,696.00
Interest Rate4.5%
Term10 years
Number of Monthly Payments120
Total Interest Cost$28,819.29
Sum of All Payments over 10 years$148,515.29

Affording Student Loan Payments and Post Graduation Salary

Can I afford to attend University of Chicago? In the end, the answer comes down a determination if you will earn enough to comfortably pay back a student loan with your post graduation salary. This is an extremely important point to consider. In order to afford student loan payments and still meet all your other costs of living, it is recommended not to borrow more than you can pay back using 10% of your monthly income earned after graduation. If you're considering attending University of Chicago, you need to carefully consider if it will be realistic to make the post graduation loan payments based on your expected salary.

Using the 10% of salary threshold, an annual income of $148,515.29 would be needed to afford a $1,237.63 monthly payment in the example $119,696.00 loan modeled above. You will need to determine if it is at all realistic that you will be earning this type of salary after graduation. This assumes a loan payback over 10 years. You can change the terms of this example loan using the student loan calculator below.

Estimated Future Cost and Expected Tuition Increase

What will it cost to send your child to University of Chicago in the future? In the past four years, this school's published in-state tuition and fee total rose from $43,581 to $53,292. This amounts to an average annual price increase of 4.5%. Nationally, university tuition prices are rising around 5% per year. Looking out five, ten, fifteen or eighteen years, these are CollegeCalc's estimates how much you could expect to pay for a 4 year degree assuming tuition increases at the national average rate. Estimated future prices are based on the current 4 year cost of $302,940.00. Use the college savings plan calculator below to perform a more comprehensive analysis on future costs and how much you will need to save for University of Chicago.

Annual4 Year Degree
Estimated Cost in 5 years for students enrolling in 2024$104,153$416,613
Estimated Cost in 10 years for students enrolling in 2029$132,929$531,716
Estimated Cost in 15 years for students enrolling in 2034 $169,655$678,619
Estimated Cost in 18 years for students enrolling in 2037 $196,397$785,586

Tuition History

What was tuition at University of Chicago five, ten, fifteen or twenty years ago? Hop into our time machine and take a look. Pay attention to how aggressive the school has been with price increases in the past as it provides indication as to how the school may raise tuition in the next few years. Historical tuition and fees for all available data years back to 1987 follows.

YearTuitionAnnual Increase

Comparable Cost for Popular Majors

We've compared the out of state cost of the most popular undergraduate areas of study at University of Chicago to the national average for all other colleges offering the same major. Use this comparison to determine particular programs where this school offers value relative to other colleges.

Area of Study Graduates vs National Avg
Economics, General Bachelor's Degree 39 69% costlier
Mathematics, General Bachelor's Degree 33 85% costlier
Political Science and Government, General Bachelor's Degree 23 82% costlier
Chemistry, General Bachelor's Degree 21 82% costlier
Biology/Biological Sciences, General Bachelor's Degree 20 87% costlier
Psychology, General Bachelor's Degree 12 87% costlier
English Language and Literature, General Bachelor's Degree 12 89% costlier
Philosophy Bachelor's Degree 11 68% costlier
Public Policy Analysis, General Bachelor's Degree 11 37% costlier
Counseling Psychology Bachelor's Degree 6 127% costlier
Romance Languages, Literatures, and Linguistics, Other Bachelor's Degree 6 42% costlier
Physics, General Bachelor's Degree 5 72% costlier
History, General Bachelor's Degree 4 85% costlier
Latin American Studies Bachelor's Degree 4 43% costlier
Computer Science Bachelor's Degree 4 80% costlier
Film/Cinema/Video Studies Bachelor's Degree 4 49% costlier
Geophysics and Seismology Bachelor's Degree 4 56% costlier
Music, General Bachelor's Degree 4 83% costlier
International Relations and Affairs Bachelor's Degree 3 61% costlier
South Asian Languages, Literatures, and Linguistics Bachelor's Degree 3 3% costlier
Chemistry, Other Bachelor's Degree 3 80% costlier
East Asian Languages, Literatures, and Linguistics, Other Bachelor's Degree 3 48% costlier
Environmental Studies Bachelor's Degree 2 55% costlier
German Language and Literature Bachelor's Degree 2 61% costlier
Slavic, Baltic and Albanian Languages, Literatures, and Linguistics Bachelor's Degree 2 31% costlier
Statistics, General Bachelor's Degree 2 68% costlier
Ethnic, Cultural Minority, Gender, and Group Studies, Other Bachelor's Degree 2 54% costlier
Humanities/Humanistic Studies Bachelor's Degree 1 77% costlier
Sociology Bachelor's Degree 1 84% costlier
Design and Visual Communications, General Bachelor's Degree 1 92% costlier
Anthropology Bachelor's Degree 1 68% costlier
Classics and Classical Languages, Literatures, and Linguistics Bachelor's Degree 1 43% costlier
Comparative Literature Bachelor's Degree 1 36% costlier
Geography Bachelor's Degree 1 105% costlier
Liberal Arts and Sciences/Liberal Studies Bachelor's Degree 1 89% costlier
African Studies Bachelor's Degree 1 32% costlier
History and Philosophy of Science and Technology Bachelor's Degree 1 37% costlier
Social Sciences, Other Bachelor's Degree 1 61% costlier
Middle/Near Eastern and Semitic Languages, Literatures, and Linguistics, Other Bachelor's Degree 1 33% costlier
Theology/Theological Studies Bachelor's Degree 1 95% costlier
Linguistics Bachelor's Degree 1 53% costlier
Directing and Theatrical Production Bachelor's Degree 1 60% costlier
Art History, Criticism and Conservation Bachelor's Degree 1 54% costlier


Use the calculators below to formulate a college savings plan for University of Chicago or model a student loan.

College Savings Calculator

Plan and Save for College

Discover how much will you need to start saving now to afford University of Chicago in the future.

Student Loan Calculator

Estimate Loan Payments

Modify the loan assumptions to fit your financial situation and likely tuition price. Then calculate your payoff and loan payments for a University of Chicago student loan.

Prepayment Option

About University of Chicago

University of Chicago is a four year private college located in Chicago, Illinois.  Full time enrollment is 13,316 and part time is 2,459.

Students attending this school may pursue both undergraduate and graduate degrees.

University of Chicago
5801 S Ellis Ave
Chicago, Illinois

For Profit / Not For Profit Status

University of Chicago is a private not for profit institution.

University of Chicago cost and financial aid data source: U.S. Department of Education https://nces.ed.gov/collegenavigator/?id=144050 IPEDS survey data.