Tuition, financial aid both increase for the 2003-2004 academic year

Undergraduate tuition, room and board charges at the University are slated to increase by 5.0 percent for the academic year 2003-2004. As is customary following a tuition increase, undergraduate students who receive financial aid will see their individual aid awards raised to match the increased charges.

Annual undergraduate tuition at the University is currently $27,324 and will become $28,689 in the academic year beginning in fall 2003. Room and board charges will increase from $8,727 to $9,165.

“The University has always been committed to making certain that all its students can enjoy a rigorous Chicago education,” said President Randel. “While we work to keep cost increases as low as possible, we are also increasing aid to make sure that all of our students, regardless of the financial circumstances of their families, remain able to the attend the University.”

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 meets the full financial needs of its admitted students, providing financial aid to make up the difference between the cost of tuition, room and board and the amount an individual and his or her family can afford to pay.

“The University’s undergraduate financial aid budget is increasing to meet the increased costs,” said Alicia Reyes, Director of the Office of College Aid. “As in the past, all current and new students will receive the support they need.”

The University also will continue a policy instituted in 2000, regarding outside scholarship awards. Any scholarships an undergraduate student receives from outside organizations will not be deducted from the student’s financial award from the University.

Earlier this month, the University launched a multimillion-dollar program that will, beginning this fall, eventually provide 20 graduates of Chicago public high schools with four-year full tuition scholarships to the College.