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#8 Best Private Colleges in Illinois

School of the Art Institute of Chicago Tuition & Cost

Chicago, Illinois

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How much does it cost to attend?

Sticker Price
$69,880
Costs for School of the Art Institute of Chicago
Fee Cost
Tuition$49,980
Books and Supplies$1,770
Other Fees$940
Room and Board $15,190
Other Expenses Budget$2,000

Annual Prices

The annual list price to attend School of the Art Institute of Chicago on a full time basis for 2018/2019 is $69,880 for all students regardless of their residency. This fee is comprised of $49,980 for tuition, $15,190 room and board, $1,770 for books and supplies and $940 for other fees. Out of state tuition for School of the Art Institute of Chicago is $49,980, the same as Illinois residents.

All price data is sourced from the 2019/2020 U.S. Department of Education National Center for Education Statistics survey.
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Net Price

Net price is indicative of what it actually costs to attend School of the Art Institute of Chicago when typical grants and scholarships are considered. The net price varies by family income and financial need.

Average Net Price 2018/2019
$50,167
Net Price by Income School of the Art Institute of Chicago
Family Income Net Price Paid
$0 to $30,000$38,617
$30,001 to $48,000$40,684
$48,001 to $75,000$41,809
$75,001 to $110,000$47,467
$110,000+$49,700

The average reported annual net price for School of the Art Institute of Chicago for students receiving grants or scholarship aid was $50,167 in 2018/2019. Net price includes tuition and required fees, books and supplies, and average cost for room and board and other expenses

Costs for Similar Colleges

Financial Aid

91% of full-time undergrad School of the Art Institute of Chicago received financial aid in the form of grants, scholarships, fellowships from the institution or from Federal, State or local government agencies. This aid averaged $17,087 per student during the 2019/2020 school year. Grant and scholarship aid does not need to be paid back. 41% of students received Federal Student Loans averaging $5,591 and 6% of undergrads took out private student loans averaging $24,989.

Finanical Aid School of the Art Institute of Chicago
Type Avg./Student Students Receiving
Total Grant and Scholarship Aid $17,087 91%
Institutional Grants and Scholarships $15,749 91%
Pell Grants $4,703 18%
Other Federal Grants $4,000 3%
State and Local Grants $4,780 5%
Federal Student Loans $5,591 41%
Other Student Loans $24,989 6%

Student Loans

To gauge a more realistic picture of what it may really cost you out of pocket to go to School of the Art Institute of Chicago, we've modeled a ten year student loan with an original principal value of $171,528. The loan balance of $171,528 is a four year multiple of the $42,882 average net price. This is a estimate of what you could owe upon graduation if you were to qualify for average financial aid and what a degree really may cost. Should you not qualify for financial aid, you may owe significantly more when you graduate. Based on these assumptions, a monthly repayment of $1,637 could be required to satisfy your student loan.

Please note that financial aid is not guaranteed and is only available for qualifying students. Federal Student Loans are not grants and must be repaid with interest. The current Stafford loan interest rate is 2.75%.

Example Loan $171,528
Stafford Loan Interest Rate 2.75%
Time to Pay Off Student Loan 10 years
Example Monthly Payment $1,636.57
Total Interest Paid $24,859.96
Sum of All Loan Payments $196,387.96

Projected 4 Year Degree Price

4 Year Sticker Price
$279,520
Year All Residents
1 $69,880
2 $72,764
3 $75,768
4 $78,895

Based on published tuition prices, we estimate the current cost of a 4 year bachelor's degree and living expenses at School of the Art Institute of Chicago to be $279,520 - assuming graduation in normal time. The estimation assumes a 4.1% annual increase over the next 4 years which has been the recent trend for this school.

Credit Hour Cost and Price per Class

Credit Hour and Class Costs at School of the Art Institute of Chicago
Price Per Credit 3 Credit Class 4 Credit Class
All Residents $1,666 $4,998 $6,664

Estimated cost for a class at School of the Art Institute of Chicago based on published credit hour prices. Note that not all schools allow single class enrollment. These prices should be used for comparison purposes as to how much it may cost to take a class at School of the Art Institute of Chicago versus other colleges.

Tuition Payment Plans Available

School of the Art Institute of Chicago Payment Plans
Tuition Payment Plan Yes
Prepaid Tuition Plan No
Alternative Tuition Plan Yes
Guaranteed Tuition Plan No

Primary data source, U.S. Department of Education https://nces.ed.gov/collegenavigator/?id=143048 IPEDS survey data for School of the Art Institute of Chicago.