Tuition and Financial Aid
As a Neubauer Civic Scholar, tuition will be fully covered. Neubauer Civic Scholars will be expected to cover additional costs of being in the Weekend MBA Program, including all fees, travel, and accommodations. To help estimate the expense of attending the Weekend MBA Program, here are the costs for the 2017-2018 academic year:
|One-time Administrative Service Fee
|One-time Student Activity Fee
|One-time Lifetime Transcript Fee
|Book fee (Booth courses only)
* Fees subject to change based on student's entry quarter and year
The scholarship you receive as a Neubauer Civic Scholar is structured as a loan from the school for which you will sign a promissory note. The promissory note will obligate you to stay in either the public or nonprofit sectors; Scholars moving between or within these sectors will maintain their loan forgiveness eligibility. However, if you move to the for-profit sector, either as a student or recent graduate, you will be responsible for paying back the loan to the school in accordance with the following schedule:
|If you leave the public or nonprofit sectors
||This % of your tuition loan will be forgiven*
|While in the program
|Within 1 year of graduation
|Within 2 years of graduation
|Within 3 years of graduation
*Under special circumstances, the school may forgive more of the loan even if you don't meet the terms.
For example, if the total tuition loan is $1,000, and you take a job in a for-profit corporation one and a half years after graduation from the MBA Program, you will be required to pay $500 of the total loan back to the school.
Every student is eligible for financial aid. However, the options are different for US citizens, US permanent residents, and international students. The loan programs available to Evening MBA and Weekend MBA students are listed on the tuition and financial aid page in the general Weekend MBA section.
Student loans for US Citizens and US Permanent Residents
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 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. Students can borrow up to the full cost of attendance (set by the financial aid office) minus all other financial assistance.
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 2017–18 Chicago Booth will offer up to $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 student 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 firstname.lastname@example.org.