Is Northwestern or UChicago more affordable after financial aid?

Question

I’m a high school senior deciding whether to apply to Northwestern and the University of Chicago, and cost will be a major factor in my decision. Since both schools have high published prices, I want to understand how their need-based financial aid typically affects the actual amount families pay.

Accepted Answer

Neither school is automatically more affordable after aid because both say they meet 100% of demonstrated financial need without requiring federal loans in their need-based packages. For a family with similar financial information, their net costs can be quite close, but each school calculates demonstrated need using its own formula. The most reliable comparison is to run each school’s current net price calculator using the same parent and student financial details.

UChicago can come out less expensive for applicants who receive one of its merit scholarships, since it offers merit awards in addition to need-based aid. Northwestern generally does not award broad merit scholarships, so a student who does not qualify for substantial need-based aid should not expect a merit award to lower the price.

Pay attention to assets, home equity, business ownership, noncustodial-parent information, and whether a financial circumstance has changed since the tax year on the aid forms. Compare the final annual net cost, including health insurance, travel, personal expenses, and any work expectation, rather than comparing grants alone.

Is Northwestern or UChicago more affordable after financial aid?

Comments & Questions (0)

Start the conversation

Related Questions