In this in-depth Chicago Booth MBA total cost analysis and funding tips, we cover:
• Tuition Fees (Chicago Booth MBA) (1-year)
• What is the total cost of Chicago Booth MBA
• Chicago Booth MBA Total Cost Breakdown
• Chicago Booth MBA Cost: 2025-26 vs. 2024-25
• Chicago Booth MBA Funding Tips
• Chicago Booth MBA Scholarships and Fellowships
• Chicago Booth MBA Loans
Chicago Booth MBA Cost Breakdown
Tuition Fees (Chicago Booth MBA) (1 Year)
Chicago Booth MBA's tuition fee for a single academic year in 2025-26 is $84,198, and for the total MBA program, the tuition fee is $168,396, which saw an increase of 4% from 2023.
Total Cost (Chicago Booth MBA) (1-Year)
Tuition and MBA fees ($84,198), books ($549), rent & meals ($26,010), personal expenses ($7,250), transportation costs ($1,800), and a computer allowance ($1,600) are all included in the basic cost of attendance for the Booth MBA Program for 2024-25. Apart from these costs F1GMAT’s research shows that the Administrative Service Fee ($3,000) and the Lifetime Transcript Fee ($78) are charged to the students in the first year of the MBA program. They are not charged again in the second year. The expenses add up to a total of $125,396 for one year.
What is the total cost of Chicago Booth MBA (2 years)
The total cost does not include the additional expenses for transformative experiences outside the classroom, such as Random Walks, Industry Treks, student groups, and events.
9 months to 12 months: Since one academic year of the Booth MBA program covers 9 months, all the expenses for Housing Food, Personal Expenses, and transportation are given for 9 months.
According to our research at F1GMAT, students must bear an extra amount of $11,686 for the remaining 3 months. So, the final cost for one year at the Chicago Booth MBA program is $137,623.
Chicago Booth MBA Total Cost Breakdown
By doubling the total fee for one academic year, adding the 3 months extra cost, and subtracting the Administrative Service Fee ($3,000), Lifetime Transcript Fee ($78), and Student Service Fee ($1,452), which are charged in the first year only, the total Booth MBA program cost for two years comes out to $259,030.
Here, we summarize the total fees of the Booth MBA program for one academic year.
Expenses | MBA Cost for 2025-26 |
Tuition | $84,198 |
Student Service Fee | $1,452 |
Administrative Service Fee (first year only) | $3,000 |
Lifetime Transcript Fee (one-time fee charged in fall of the first year) | $78 |
Books and Course Materials | $549 |
Housing & Food | $26,010 |
Misc. Personal Expenses | $7,250 |
Transportation | $1,800 |
Computer Allowance | $1,600 |
Total | $125,937 |
Chicago Booth MBA Cost: 2025-26 vs. 2024-25
Chicago Booth MBA Tuition Fee Increase - 4%
Booth MBA experienced a 4% increase in tuition fees, from $80,961 to $84,198.
Chicago Booth MBA Total Cost Increase - 3%
The total cost for Booth MBA has seen a 3% increase with a maximum hike of 15% in admin fee which is applied only for the First Year student.
Chicago Booth MBA other Expenses - Marginal 1-2% Increase
None of the remaining expenses saw such variations in cost and were mostly either the same or increased by a small 1-2% margin.
| Expenses | MBA Cost for 2024-25 | MBA Cost for 2025-26 |
| Tuition | $80,961 | $84,198 |
| Student Services Fee | $1,398 | $1,452 |
| Admin Fee (only first year) | $2,600 | $3,000 |
| Lifetime Transcript Fee (One time ) | $75 | $78 |
| Books | $549 | $549 |
| Housing and Food | $26,010 | $26,010 |
| Personal Expense | $7,167 | $7,250 |
| Transportation | $1,800 | $1,800 |
| Computer allowance (one-time) | $1,600 | $1,600 |
| Total | $12,2160 | $125,937 |
Related: Chicago Booth MBA Cost Trends
Essay Editing - Work with Atul Jose (Founding Consultant and Essay Specialist)
With the word limit typically in the 250 to 500 range, it is not easy to structure the essay without losing momentum.
As F1GMAT’s Lead Consultant and Essay Specialist, I will help you structure the essay by:
1) Incorporating your Personal Brand
I will help you find unique life experiences that would differentiate you from the highly competitive Chicago Booth MBA application pool.
2) Including Storytelling elements
I have developed a keen sense of storytelling from over a decade and a half of editing essays and writing essay examples for F1GMAT’s Essay Guides.
The skills that a writer/editor brings to the table are different from what a former admissions officer or a consultant who has limited writing skills brings
Review Skills # Writing Skills
Movie Critics # Movie Directors
It is easy to comment, but it is tough to structure the essay from the perspective of the applicant and turn the essay into a winning application essay.
3) Aligning with the Culture of the School
A big part of editing and guiding applicants is in educating them about the culture of the school
Some schools have very ‘specific’ traits that they are looking for in an applicant.
If you don’t highlight them and lean towards general leadership or cultural narratives, the essay won’t work.
I will guide you through the writing process.
I will also iteratively edit the essays without losing your original voice.
Subscribe to F1GMAT's Essay Editing Service for help
For any questions about the service, email me, Atul Jose, at editor@f1gmat.com
Chicago Booth MBA Funding Tips
The primary sources of financial aid offered by Booth MBA programs include Scholarships, Fellowships, Awards, and Loans. The awards are provided to the students based on six major categories: Industry Award, Leadership Award, Military Awards, Regional Awards, External Awards, and Awards for Second Year Students.
Additionally, Booth encourages students to look into outside funding options through foundations, corporations, and associations. They provide merit-based scholarships for MBA students and fellowships to selected admitted students.
Chicago Booth MBA Scholarships and Fellowships
Merit-Based Scholarships: Booth provides deserving students with a wide range of merit-based MBA scholarships. All candidates are reviewed and judged entirely on the facts provided in the application. No formal application process is required for the awards. They are announced at the time of admission, and winners are chosen based on their academic ability, intended area of study, competitiveness, performance in the interview, and life experiences.
Global Innovator Fellowships: Students with audacious goals and clear enthusiasm for making a distinctive and long-lasting effect on the world are given Global Innovator Fellowships. The sponsors empower Booth MBAs to challenge the status quo by pursuing personal and professional objectives in neglected markets, marginalized groups, or underserved industries. Global Innovators come from all over the world and operate in various sectors. Similar to merit-based scholarships, these fellowships do not require a separate application. All applicants are examined, and selections are made simply based on the data contained in the application.
Yellow Ribbon Program: All Chicago Booth veterans who meet the requirements under the VA guidelines can apply for Yellow Ribbon awards, which are not grants. The only premier MBA program that provides Yellow Ribbon scholarships without a maximum limit is Chicago Booth. In addition to other VA programs, there are Yellow Ribbon prizes.
Awards: Based on different industries, regions, and special categories, awards in the form of scholarships, fellowships of other financial aids are provided to the students who fulfill the criteria. Now, let us discover all the awards categories and the number of awards mentioned in each category.
| Awards Type | Awards Name |
|---|---|
| Industry Award | Canfield Private Equity Fellowship |
| Herman Family Fellowship for Women Entrepreneurs | |
| Kilts Marketing Fellowship | |
| Leadership Awards | Distinguished Fellowship |
| Forté Foundation Fellowship | |
| Marvin Zonis International Scholarship | |
| Zmijewski Scholarship | |
| Military Awards | David W. Fox Scholarship |
| Regional Awards | A. H. Tobaccowala Fellowship |
| Chicago Booth Mexico Opportunity Scholarship | |
| Dennis W. and Jane B. Carlton Fellowship | |
| Ehara Scholarship | |
| He Family Scholarship | |
| The Nelson Germanos Fellowship | |
| Ramakrishnan Family Scholarship | |
| External Awards | Association of Management Consulting Firms Richard Metzler & Roland Berger Scholarship |
| Ray E. Brown Fellowship | |
| CREW (Commercial Real Estate Executive Women in Chicago) | |
| Fundación Rafael del Pino | |
| The Hispanic Scholarship Fund Fellowship | |
| Instituto Ling Fellowship | |
| International Council of Shopping Centers (ICSC) Scholarships | |
| LIFE Scholarship (Lebanese International Finance Executives) | |
| MBA Strategy Company, Ukraine | |
| McKinsey & Company Emerging Scholars | |
| Onsi Sawiris Scholarship Program | |
| Paul and Daisy Soros Fellowship for New Americans | |
| Pension Real Estate Association Scholarship | |
| The Royal Academy of Engineering Sainsbury Management Fellowship | |
| Awards For Second-Year Students | Siebel Scholars Program |
| The University of Chicago Obama Foundation Scholars Program |
Chicago Booth MBA Loans
Booth MBA programs offer two different types of loans to the applicants. The first one is for US Citizens and Permanent Residents, and the second one is the Loans for the International Candidates.
Loans for US Citizens and Permanent Residents
Federal student loans and/or private student loans are available to full-time MBA students who are US citizens or permanent residents.
Direct Unsubsidized Loan: Federal student loans are accessible to US citizens and permanent residents who enroll in at least 200 units each quarter under the Direct Unsubsidized Loan program. The most you can borrow each year is $20,500.
Direct Grad PLUS Loan: Students who need to borrow more money than the Direct Unsubsidized Loan in a given year have the option of applying for the Direct Grad PLUS Loan, a federal student loan based on credit. The annual cap is equal to the tuition price, less any other financial help.
Private, credit-based alternative loans: A private, alternative loan based on credit is available to all students. The maximum amount that students may borrow is the cost of attendance, less any other financial aid.
Loans for International Candidates
Regardless of citizenship, Chicago Booth is dedicated to offering financial possibilities to all students. There are numerous private loan options available to international students without US cosigners as well. Once accepted into the program, more comprehensive information about these programs is available on the Admitted Student page.
It is important for students to look into private loan options in their home country because they might be able to acquire better interest rates there. Any private student loan selected by the student will be certified by the financial aid office.
Is Booth MBA right for you?
Reach out to me, Atul Jose, through our free MBA Admissions Consulting session, or add me through LinkedIn to find your admission chances.
Reference
that supports curiosity, inspires us to think more broadly, and take risks. At Booth, community is about collaborative thinking and learning from one another to better ourselves, our ideas, and the world around us.