|Books and Supplies||$1,770|
|Room and Board||$15,580|
|Other Expenses Budget||$2,000|
The annual list price to attend School of the Art Institute of Chicago on a full time basis for 2020/2021 is $72,510 for all students regardless of their residency. This fee is comprised of $52,200 for tuition, $15,580 room and board, $1,770 for books and supplies and $960 for other fees. Out of state tuition for School of the Art Institute of Chicago is $52,200, the same as Illinois residents.All price data is sourced from the 2020/2021 U.S. Department of Education National Center for Education Statistics survey.
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.
|Family Income||Net Price Paid|
|$0 to $30,000||$40,785|
|$30,001 to $48,000||$41,804|
|$48,001 to $75,000||$42,260|
|$75,001 to $110,000||$48,502|
The average reported annual net price for School of the Art Institute of Chicago for students receiving grants or scholarship aid was $51,606 in 2019/2020. Net price includes tuition and required fees, books and supplies, and average cost for room and board and other expenses
90% 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 $17,406 per student during the 2019/2020 school year. Grant and scholarship aid does not need to be paid back. 36% of students received Federal Student Loans averaging $5,519 and 4% of undergrads took out private student loans averaging $33,586.
|Total Grant and Scholarship Aid||$17,406||90%|
|Institutional Grants and Scholarships||$16,231||90%|
|Other Federal Grants||$4,000||1%|
|State and Local Grants||$5,251||4%|
|Federal Student Loans||$5,519||36%|
|Other Student Loans||$33,586||4%|
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%.
|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|
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 $290,040 - assuming graduation in normal time. The estimation assumes a 4.2% annual increase over the next 4 years which has been the recent trend for this school.
|Price Per Credit||3 Credit Class||4 Credit Class||All Residents||$1,740||$5,220||$6,960|
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 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.