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University of Chicago will be the most expensive undergraduate education in 2019-20

University of Chicago will be the most expensive undergraduate education in 2019-20

Higher tuition and housing cost increases have put the estimated cost of attending the university in 2019-20 at $80,277

Tuition and housing cost increases will make the University of Chicago the nation’s most expensive undergraduate education for the 2019–20 academic year, according to data from the university and peer institutions. 

The Chicago Maroon, the university's student newspaper. reports that the University of Chicago's self-reported total cost of attendance estimates has risen to $80,277 for students in on-campus housing, a $2,946 increase from last school year. This makes it the first institution in the United States to have an estimated total annual cost greater than $80,000.

Base tuition will rise from $55,425 in the last school year to $57,642 for the coming year—a 4% increase.

The price of student housing and unlimited meal plan increased by $654 annually, which is also a 4% increase from the previous school year. The incoming Class of 2023 will be the first class at the university required to live in on-campus housing for at least two years. First-year students are required to purchase an unlimited meal plan. After the first year, students may opt for a meal plan with fewer meals, and students living off-campus can choose to leave the meal plan entirely.

University of Chicago spokesperson Jeremy Manier says the school "is committed to ensuring that all undergraduate students who are admitted to the College are able to participate fully regardless of financial circumstances.”

Manier also says that the university “guarantees free tuition for families with incomes under $125,000,” and the “average loan indebtedness across all graduating students is under $7,000.”

Beginning with the Class of 2023, the university also guarantees “families earning less than $60,000 (with typical assets) have full tuition, fees, room and board covered by financial aid.”

TAGS: Funding
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