The University of Chicago News Office
March 21, 2002 Press Contact: Sabrina Miller
(773) 702-4195

University of Chicago announces new undergraduate tuition charges

Undergraduate tuition, room, and board charges at the University of Chicago are slated to increase by 5 percent for the academic year 2002-2003, pending final approval by the University’s Board of Trustees on April 11. However, undergraduate students on financial aid will see their individual aid awards increased to match the increased charges.

Annual undergraduate tuition at the University is currently $26,022 and will become $27,324 in the academic year beginning fall 2002. Room and board charges will move from $8,312 to $8,727.

“The leading private research universities will almost all have tuition increases clustered between 4 percent and 5 percent, and the top dozen are within a few hundred dollars of one another,” explained University of Chicago President Don Michael Randel. “Tuition increases in excess of the consumer price index will probably be with us for the foreseeable future because of the kind of institution we are and must continue to be.”

The University’s admissions process in selecting the most qualified applicants is completely need-blind: financial aid applications have no bearing on admission to the undergraduate program. In addition, the University of Chicago meets the full financial needs of its admitted students. This means that financial aid is provided to make up the difference between the cost of tuition, room, and board and the amount that an individual and his or her family can afford to pay.

“As our costs increase, we have adjusted the financial aid budget to reflect those changes,” said Alicia Reyes, Director of the Office of College Aid. “All entering undergraduates who need this support will be fully covered.”

The University will also continue a policy instituted in the year 2000 of not deducting the amount of any scholarship funds an undergraduate receives from outside organizations from his or her University financial award.
Last modified at 04:45 PM CST on Friday, March 22, 2002.

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