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Financial Aid
Here at the Harris School, we know that the cost for your degree will be significant; we are committed to
helping identify financial resources to assist with managing the cost. Financial aid is calculated based on a standardized cost of attendance: tuition, room and board, books,
transportation, and personal/miscellaneous expenses for three academic quarters (nine months). The Office of Admissions notifies you of any merit scholarship award at the time of your admission. At
that time, we also provide you with information on applying for loans and work.
Masters Students
Each year, approximately fifty-four percent of Harris School
students receive some kind of financial aid. The School assists many students
with scholarships and fellowships that are awarded on a competitive, merit basis. Additionally,
the University provides loan assistance and work-study employment programs to students who demonstrate financial need.
Doctoral Students
Doctoral students, unless funded by an outside source or
agency, are awarded full tuition plus a stipend for the first three or
four years of study, depending on prior academic training.
Application Process
To be considered for any Harris School
scholarship, applicants must mark the appropriate box on the application
for admission; no separate application materials are required.
To apply for Federal Loan Assistance and Federal Work-Study, applicants must complete and submit the Free
Application for Federal Student Aid (FAFSA). Students may apply on-line at the Federal Student Aid Programs web site,
www.fafsa.ed.gov. Please complete all sections of this document except sections requiring
parental income information. Please note: our institutional code for graduate students to use when filing the FAFSA is E00377.
In addition to the FAFSA, applicants must submit the University
of Chicago Application for Student Loans and Federal Work-Study. The Harris
School Office of Admission will forward the University of Chicago application
materials to all admitted students. Once submitted, inquiries about FAFSA
and loan applications should be directed to the University of Chicago Office
of Student Loan Administration at 773-702-6061.
Scholarships offered by the Harris School
All Harris School scholarships and
fellowships are awarded on a competitive, merit basis. The following are
available for master’s
students:
- Dean's Scholarship. For students with exemplary academic and extracurricular
records. Award varies in value and is renewable for a second year.
- Knoll Scholarship. For returned Peace Corps volunteers or for students
interested in Federal education policy or international policy. Award
varies in value and is renewable for a second year.
You may also want to look into Harris School Fellowships.
Student Loans for U.S. citizens/Nationals or Permanent Residents
Loans typically account for the major part of financing a
Harris School degree. The following information describes the various loan
programs available to Harris School students. Students must be U.S. citizens/nationals
or permanent residents to be considered for the Federal Education Loan Program
(Federal Subsidized Stafford Loan, Federal Perkins Loan, and the Federal
Unsubsidized Stafford Loan). Students must also be enrolled at least half time.
- Federal Subsidized Stafford Loan
- Applicants who demonstrate financial need on the basis of
federal guidelines may apply for a maximum of $8,500 per academic year through
the Federal Subsidized Stafford Loan Program (aggregate: $65,500). Interest is subsidized while
the borrower remains registered at least half-time and for a six-month grace
period following graduation, leaving school or dropping below half-time. Applicants who have outstanding Stafford or
Guaranteed Student Loans may inquire with their original lenders about initiating
an application. Those who have not previously borrowed from this program
or who are ineligible to receive a loan from their original lending institution
may contact a lender of their choice or use the application provided by the
University's Student Loan Administration. If you choose the University of Chicago as your lender, you will have
NO fees deducted from your loan. You will receive 100% of the amount you borrow.
- Federal Perkins Loan
- Applicants who demonstrate financial need on the basis of
Federal guidelines may apply for the Federal Perkins Loan Program. Interest
is subsidized while the borrower remains registered at least half-time and
for a nine-month grace period following graduation, leaving school or dropping below half-time, before repayment begins.
Funding is limited and
the eligibility requirements are very highly restricted. The maximum loan
amount awarded is $6,000 per year, with a total of $40,000 borrowed (in both undergraduate and graduate schools). Students
awarded a Federal Perkins Loan for the first time are required to sign the Perkins Master Promissory note at the Student
Loan Administration Office.
- Federal Unsubsidized Stafford Loan
- Students may borrow a maximum of $18,500 (aggregate: $138,500) minus any Federal
Subsidized Stafford Loan amount per academic year through the Federal Unsubsidized
Stafford Loan program. Unlike the two programs above, the interest is not
subsidized while the student is enrolled in school. Depending on the lender,
students may choose to defer the interest payments. In-school interest may be paid monthly or capitalized. Payment of principal
and interest
begins six months after the student graduates, leaves school or drops below half-time. If you choose the University of Chicago
as your lender, you will have NO fees deducted from your loan. You will receive 100% of the amount you borrow.
- Alternative Loan Program
- Students who are either ineligible for Federal loans or have
borrowed to the limits available under Federal programs may opt for the UC
Alternative Loan program. These loans are made through the Illinois Student
Assistance Commission (ISAC), have competitive interest rates, and allow
students to consolidate their borrowing with one lender. Interest is deferred
while the student is enrolled at least half-time. The unpaid interest accrues
and capitalizes during the student's enrollment.
Student Loans for International Students
International students may apply for alternative loan programs available through private U.S. agencies. These
programs require the applicant to have a co-signer who is an U.S. citizen or permanent resident residing in the U.S. and a valid
U.S. social security number. The value of these loans ranges from $2,000 to the cost of education, less other financial assistance.
Student Employment Options
- Assistantships
- Some research assistantships
are available at the Harris School. Individual faculty members make these
appointments in consultation with the Dean of Students or departmental advisors.
Compensation varies according to the type of work, the length of appointment
and the time commitment required, but is typically the market rate and will
not cover the cost of tuition. Teaching assistantships usually involve assisting a professor with class discussions, grading
papers and tutoring students. The typical appointment involves working approximately 20 hours a week. A few teaching positions
are available at
the Harris School, but not to first-year students. As with research assistantships,
compensation will not cover the cost of tuition.
- Federal Work-Study Program
- The Federal
Work-Study Program is federally sponsored and offers a wide variety of part-time
and full-time positions both on- and off-campus. To be eligible for the Federal
Work-Study Program, students must be enrolled full-time and demonstrate financial
need.
- Other Employment
- In addition to the Federal
Work-Study Program, there are other employment opportunities available. The
Harris School Office of Professional Development maintains postings for on- and off-campus
employment, as does the University's Office of Career Advising and Placement Services.
The College at the University of Chicago often has a need for experienced
tutors in areas such as mathematics, economics, chemistry and other courses.
These are salaried positions and carry no tuition remission. In addition,
the University's Student Housing Office has resident assistant positions
in the undergraduate dormitories available each year. These positions offer
room and board.
Further Information
For more information on Harris School scholarships,
contact the Office of Admission at 773-702-8401 or HarrisSchool@uchicago.edu.
For additional information on loans and work, contact the Office
of Student Loan Administration at 773-702-6061.
Financial Aid Resources
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