The University of Chicago is joining other top universities in offering free tuition for undergraduate students whose families make under $250,000 a year, the school announced Wednesday as part of an initiative to make the college affordable for middle- and upper-middle income families.
Starting in fall 2027, students whose families earn less than $250,000 per year will be able to attend tuition-free, and students whose families make less than $125,000 a year will also get free housing, meals and other fees waived. The offer is meant for families with “typical” assets, which can include modest savings and a home.
The cost of attendance at U. of C. for undergraduates is creeping toward $100,000 a year. This school year’s cost of tuition, housing and other fees totaled $98,300, up 3.5% from the previous year. Tuition alone was around $71,000.
“The University of Chicago is proud to sponsor a learning environment characterized by intellectual curiosity, ambition, and rigor,” University President Paul Alivisatos said in a news release. “By deepening our commitment to affordability, we are helping to ensure that the brightest minds can join us.”
The average undergraduate student at U. of C. receives around $75,000 in financial aid, the release said. In total, the school gives out around $225 million annually in aid.
Other prestigious universities have taken similar steps to make higher education more accessible and ease the cost burden on students and their families. In recent years, schools like Harvard University, Columbia University and the Massachusetts Institute of Technology have waived tuition fees for students whose families bring in less than a certain amount, typically $150,000 to $200,000 a year.
In the Chicago area, Northwestern University offers free tuition to most students from families making less than $150,000 a year, and most students whose families bring in less than $70,000 a year attend the school free of charge.
The announcement is the latest in a series of steps to expand access to U. of C. in recent years.
The UChicago Promise program, for example, offers full-tuition scholarships to certain graduates of Chicago Public Schools and City Colleges of Chicago. Children of CPS educators and Chicago police and firefighters are also eligible for full-tuition scholarships under the program.
