The University of Chicago | Graduate Admissions

Financial Aid

The University of Chicago helps graduate and professional school students pay for their educations in a variety of ways—through direct funding and through facilitating student participation in federal loan programs.

For more information about specific funding for your degree program, please refer to the financial aid information pertinent to each division or professional school below. Note that UChicago offers most incoming doctoral students funding packages, which cover tuition and student health insurance as well as including a stipend for living expenses and research support.

Loan Programs

Loan programs augment any other aid students have received from the University and from outside funding sources. Find details of all loan programs and application instructions on the Student Loan Administration website.

Federal Direct Loans

For 2012-2013, the Federal Direct Loan program consists of two types of loans:

  • Federal Direct Unsubsidized Stafford Loan – a loan with a 6.8 percent fixed interest rate. The Free Application for Federal Student Aid (FAFSA) is the application required for this loan program. Graduate students may borrow up to $20,500 per academic year.
  • Federal Direct Graduate PLUS (GradPLUS) Loan – a credit-based loan with a 7.9 percent fixed interest rate. Students must complete the FAFSA and pass a credit check to apply. Students may borrow up to their cost of attendance, minus all other awards.

Federal Perkins Loan

The Federal Perkins Loan has a fixed interest rate of 5 percent. Interest does not accrue while the student is enrolled, and students receive a nine-month grace period after leaving school and before repayment begins. Graduate students may borrow up to $8,000 per year, depending on the availability of funds at the University of Chicago.

Award amounts and types are subject to change, based on programmatic changes in the Federal Student Aid programs.