Tuition Grants

All PhD students receive full tuition support for five to six years of full-time study, conditional on satisfactory progress in the program.


All PhD students also receive stipend support for five to six years of full-time study, conditional on satisfactory academic progress. For students who entered the program in fall 2020, the Chicago Booth PhD stipend is $43,500 per year. In addition, we cover student-only premiums for the university’s student health insurance plan.

Teaching and Research Assistantships

During your third and fourth years in the PhD Program, you are guaranteed the opportunity to work as a teaching assistant. We don’t impose a TA requirement during the first and second years so that you can devote all of your energy to your studies.

You may also work as a research assistant at any time during the PhD Program to gain additional research experience. 

Support for Research and Travel

As a PhD student, you may request funding (up to $1,250 per academic year) for research and conference travel on an annual basis. You may also apply to the PhD Program or to Booth’s research centers for additional funding for larger research projects.

External Fellowship Support

We encourage you to explore external sources of funding such as government agencies and corporations. For example, current Booth PhD students have received external funding from the NSF Graduate Research Fellowship Program and from the UniCredit Foundation’s US PhD Scholarship.

Cost of Attendance

The chart below provides an estimate of the nine-month cost for a single student to attend the PhD Program. Costs vary depending on individual circumstances.

Chicago Booth’s generous funding for students more than covers the cost of attendance—even when the cost of attendance is extended to 12 months.

2020–21 Estimated Cost of Attendance for Three Quarters (Nine Months)

Years 1-4 Year 5+
Tuition $66,096 (Three quarters) $32,400 (Three quarters)
Student Life Fee $1,248 (Three quarters) $1,248 (Three quarters)
Lifetime Credentials Fee $75 (First year, one time only, charged in fall) N/A
Health Insurance (Basic) $4,566 $4,566
Books $684 N/A
Room/Board $22,185 ($2,465 per month) $22,185 ($2,465 per month)
Personal $2,286 $2,286
Transportation $1,944 $1,944
Total $99, 084 $64,629

Contact Us

If you still have questions after reviewing our FAQ, please contact us. We look forward to hearing from you!

Phone: 773.702.7298
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