Tuition and Financial Aid
Tuition for first-year Full-Time MBA students in 2019-20 is $72,000 per year. An estimate of the cost of attending school for nine months is below.
This standard cost of attendance—including tuition and fees, books, rent, food, personal expenses, transportation, and a computer allowance—is established for all students receiving financial aid.
|Student Services Fee
|Health Insurance (estimated)
|Administrative Service Fee
||$2,500 (first year only)
|Lifetime Credentials Fee
||$75 (a one-time fee charged in fall of the first year)
|Room and Board
||$22,185 ($2,465 per month)
||$1,300 (first year only)
We require a $3,000 nonrefundable deposit broken into two payments, to be paid on two separate dates. One is paid upon your acceptance of your offer; the other is paid later.
Types of payment include personal check, money order, cashier’s check, or American Express traveler’s checks. Payment by wire transfer and by credit card is also available.
Chicago Booth is committed to assisting all admitted students in financing their MBA, regardless of citizenship. Financing is available for all admitted students in the form of student loans and merit-based scholarships and fellowships only. Chicago Booth does not offer need-based financial aid.
Loans are calculated based on a standardized cost of attendance including room and board, books, and other expenses for three academic quarters (nine months).
US Citizens and US Permanent Residents
US citizen and US permanent resident Full-Time MBA students can borrow federal student loans from the US government and/or private student loans.
- Direct Unsubsidized Loan - The Direct Unsubsidized Loan is a federal student loan available to US citizens and US permanent residents who enroll in at least 200 units each quarter. The annual maximum loan amount is $20,500.
- Direct Grad PLUS Loan - A credit-based federal student loan, the Grad PLUS Loan is an option for students who need to borrow more than the Direct Unsubsidized Loan in a given year. The annual maximum is the cost of attendance minus any other aid.
- Private, credit-based alternative loans - All students can apply for a private, credit-based alternative loan. Students can borrow up to the cost of attendance (which is set by the financial aid office) minus any other financial assistance.
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.
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 the Chicago Booth Financial Aid Office at 773.702.3964 or email us at financial.aid@ChicagoBooth.edu.