Coronavirus Updates

Terms of the Award

All full-tuition Neubauer Civic Scholar awards are structured as a forgivable loan from Chicago Booth. You will sign a promissory note for the loan, obligating you to continue working in either the public or social sector, at a 501(c) designated nonprofit organization or for the government, for at least three years after graduation. Your loan will be forgiven if you remain in either of those sectors (or move between or within these sectors). However, if you move to the for-profit sector, either as a student or within three years of graduation, you will be responsible for repaying the loan.

Loan Forgiveness Schedule

If you leave the public or nonprofit sector ... ... This percentage of your tuition loan will be forgiven.*
While in the program 0 percent
Within one year of graduation 25 percent
Within two years of graduation 50 percent
Three years after graduation 100 percent

*Under special circumstances, the school may forgive more of the loan even if you don’t meet the terms.

Financial Aid

Every student is eligible for some form of financial aid. However, the options vary depending on whether you’re a US citizen, a US permanent resident, or an international student. Each program also has its own loan programs. For more information on financing your MBA, see Full-Time MBA Cost or Part-Time MBA Cost.