Tuition and Financial Aid
To help estimate the expense of attending the Evening MBA Programs, here are the costs for the 2014 -2015 academic year:
|One-time LEAD Fee
|One-time Student Activity Fee
|One-time Lifetime Transcript Fee
| Book fee (Booth courses only)
|2014 - 15 Tuition per Course
|Tuition Bills Generated for E-Bill
||(Friday, Week 1)
|Tuition Bills Mailed
||(Monday, Week 2)
||(Friday, Week 4)
* Fees subject to change based on student's entry quarter and year
** Tuition is adjusted yearly in the Summer Quarter
Every student is eligible for financial aid. However, the options are different for US citizens, US permanent residents, and international students. Chicago Booth does not grant scholarships to Evening MBA and Weekend MBA students.
Student loans for US Citizens and US Permanent Residents
There are three loan programs available to Evening MBA and Weekend MBA students.
Direct Unsubsidized Loan - The Direct Unsubsidized Loan is available to US citizens and US permanent residents who enroll in two or more courses each quarter. The Direct Unsubsidized Loan, which is not credit-based, carries a fixed interest rate of 6.21 percent, an origination fee of 1.072 percent and an annual borrowing limit of $20,500.
Direct PLUS Loan - The Direct PLUS Loan is available to US citizens and US permanent residents who enroll in two or more courses each quarter. The Direct PLUS Loan is a credit-based federal loan that can be used to supplement the Direct Unsubsidized Loan. The interest rate is fixed at 7.21 percent and there is a 4.288 percent origination fee. Students can borrow up to the full cost of attendance (set by the financial aid office) minus all other financial assistance.
*Due to sequestration, origination fees for both federal student loans are scheduled to rise slightly on October 1 (to 1.073 percent for Direct Unsubsidized loans, and 4.292 percent for Direct PLUS loans).
Private, credit-based alternative loan - All students can apply for a private, credit-based alternative loan. Students can borrow up to the full cost of attendance (set by the financial aid office) minus all other financial assistance. The terms of private loans are set by the lender.
Yellow Ribbon - Chicago Booth participates in the Yellow Ribbon Program which is an additional enhancement of the Post-9/11 Veteran's Educational Assistance Act of 2008, which allows institutions of higher learning in the United States to enter into an agreement with the Veterans Administration (VA) to fund tuition expenses that exceed the highest public in-state undergraduate tuition rate. Yellow Ribbon awards are available to all veterans at Chicago Booth who qualify under the VA guidelines. For academic year 2014–15 Chicago Booth will offer $15,000 per year in Yellow Ribbon scholarship support and the VA will provide up to $15,000 in additional funding. The Yellow Ribbon awards are in addition to other VA programs. You can find the application through the University Registrar.
Student Loans for International Students
Chicago Booth is committed to providing financing opportunities for all students regardless of citizenship status and offers a loan program to international students with no US cosigners. International students who have US cosigners have multiple private loan options. More detailed information regarding these programs will be made available via the admitted students website upon admission to the program.
Please Note (OFAC Sanctions): In accordance with regulatory guidelines, the following applicants are NOT eligible for Chicago Booth’s loan program for international students with no US cosigner—applicants from Office of Foreign Assets Control (OFAC)-sanctioned countries; and applicants identified by name, or related to or connected with anyone on the OFAC Specially Designated Nationals List. All such applicants will be required to make alternative financing arrangements.
You can review the loan policy for the University of Chicago Booth School of Business in the loan policy documentation (PDF).
For additional information on financial aid, please contact Chicago Booth Office of Admissions and Financial Aid at 773.702.3964 or financial.aid@ChicagoBooth.edu
The 2014 - 2015 application will be available late spring.