As you consider financing your medical education, below you will find the Pritzker School of Medicine 2020-2021 standard student budget. This budget is a good benchmark for calculating the cost of medical education. It is also used by the Office of Financial Aid when calculating aid. If an individual is receiving financial assistance, that assistance cannot exceed the estimated costs provided below.
The standard budget for all students includes the estimated cost of tuition, mandatory fees, disability insurance (based on average class age), and estimated expenses of room & board, transportation, books & supplies, and personal expenses. A universal transcript fee will appear on your Autumn quarter bill unless you have completed coursework at the University of Chicago before your admission to Pritzker School of Medicine. Additionally, you may elect to participate in the University Student Health Insurance Program (U-SHIP) if a parent or your spouse does not currently cover you, or you hold private coverage.
Tuition and fees are set on an annual basis and will be finalized for 2021-22 in spring 2021. Tuition generally increases at approximately 2%–4% annually. The cost of attendance for 2020-2021 is listed below.
2020-21 Cost of Attendance
|
M1 10.5 months |
M2 9 months |
M3 12 months |
M4 12 months |
|
| DIRECT EXPENSES | ||||
| Tuition | 56,550 | 56,550 | 75,030 | 75,030 |
| Lab Fee | 150 | 35 | - | - |
| Disability Insurance | 315 | 315 | 328 | 340 |
| Student Services Fee | 1,248 | 1,248 | 1,574 | 1,574 |
| Med Equipment | 515 | - | - | - |
| Transcript Fee* | 75 | - | - | - |
| USMLE | - | 630 | 1,920 | - |
| Health Insurance | 4,566 | 4,566 | 4,566 | 4,566 |
| Loan Fees | 312 | 312 | 312 | 312 |
| INDIRECT EXPENSES | ||||
| Transportation | 2,226 | 1,908 | 2,636 | 2,544 |
| Room and Board | 16,800 | 14,400 | 19,200 | 19,200 |
| Personal Expenses | 3,389 | 2,901 | 3,868 | 3,840 |
| Books & Supplies | 1,200 | 1,950 | 1,800 | 852 |
| TOTAL | $87,346 | $84,815 | $111,234 | $108,258 |
*Universal Transcript Fee is a one-time fee assessment. The Universal Transcript Fee is automatically waived for entering medical students who paid this fee during previous studies at the University of Chicago.
Pritzker students may request a one-time budget increase for the purchase of a computer or laptop during their program of study. The budget increase will be equal to the purchase total or $2,000, whichever is less. Funds offered to cover the budget increase will be in the form of an Unsubsidized Stafford Direct Loan, a Grad PLUS Direct Loan, or a Pritzker Loan.
Students who have dependents other than a spouse, such as young children, may be eligible for supplemental loan assistance to help offset the costs for dependent care. Allowable costs include day care expenses, child care services, etc. The additional financial need will be met first with Unsubsidized Stafford Direct Loans, then with Graduate PLUS loans. You will be asked to provide proof of the expenses in the form of a cancelled check, day care provider contract, or a written statement from the provider.
Fourth year medical students have included in their budget some additional personal/other allowance to accommodate travel and other expenses for the residency application process. If your residency interviewing expenses exceed this allowance, you may request a one-time budget increase to cover expenses. Documentation of all costs is required along with a copy of your ERAS application and verification of schedule interview(s) from the respective programs.