$6,895

Avg. Federal Grant

$5,190

Avg. Federal Loan

$148,125,571

Total Aid Awarded

University of Chicago Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

61%

Total Aid Amount Average Total Aid Awarded per year.

$148.126M

Financial Aid Official Website

financialaid.uchicago.edu/

As many as 57% of the students at UC get some sort of financial aid, and the total amount of assistance/loans provided is more than $3,305,867 in a year. The total percentage of candidates applying to University of Chicago who receive the Federal Grant is 11%. Meanwhile, 51% of the applicants receive the Student Grant and 51% are awarded the Institution Grant, while 11% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $6,996, while the same comes to $4,827 for State Grant receivers and $42,074 for Institution Grant awardees. On the other hand, the average aid received by the Pell Grant awardees is $4,567. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At University of Chicago, the percentage of candidates who opt to avail of student loans is around 10%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

11%

State Grant Aid

4%

Institution Grant Aid

55%

Pell Grant

11%

Average Aid Awarded

Federal Grant Aid

$6,895

State Grant Aid

$4,844

Institution Grant Aid

$41,096

Pell Grant

$4,517

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$72,557

$30,001 - $48,000

$69,410

$48,001 - $75,000

$67,802

$75,001 - $110,000

$56,953

Over $110,000

$34,882

Student Loans for University of Chicago

Average Loan Amount Average Loan Amount received per year.

$8,140/Year

Students Taking Out Loans

10%

Loan Default Rate

1.5%

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