Frequently Asked Questions
Why does Lab have a fundraising program?
Securing generous support from parents, alumni, faculty, staff, and friends of Lab helps the institution close budget gaps in annual operations and allows Lab to meet aspirational goals that would otherwise be impossible to reach.
By connecting passionate philanthropists to programs and projects, fundraising also allows Lab to realize activities that further our vision and mission, and often go above and beyond in creative and meaningful ways.
Without these additional resources from dedicated supporters, Lab would be forced to make difficult choices between tuition levels, financial aid budgets, and programmatic activities.
What are the goals of Lab's financial aid program?
Lab's financial aid program seeks to remove financial barriers for students who contribute to and benefit from a Lab education. Lab's financial aid program serves to bolster the Schools' mission to honor diversity in all its forms. Increasing financial aid resources for current and entering students allows us to change the lives of future Lab alumni and strengthen our commitment to cultivating and nurturing a diverse and inclusive community.
What would a substantially larger endowment do for Lab?
Endowment income has historically been a stabilizing force in the operation of education institutions, is less variable relative to other revenue streams, and is available in perpetuity. At Lab, revenue from endowment provides critical support from our financial aid program. In addition, individual endowment funds also support professional development; Model United Nations; the Summer Link Program; the Zena Sutherland Awards for Children's Literature Program; faculty, staff, and student award programs; and more. Growing the endowment remains a long-term priority for philanthropy at Lab.
The tuition benefit for University of Chicago employees
The University’s Lab Tuition Remission Program is for full-time employees of the University (and certain affiliated units). At minimum this program pays 50 percent of Lab tuition for the children of these employees. Qualifying employees whose adjusted gross income falls below $250,000 are eligible for additional support based on a formula that caps their expected tuition contribution per child to a set percentage of their AGI. In addition, employee families with multiple children attending Lab at the same time are eligible for an additional $2,000 discount for each child beyond the oldest.
Importantly, non-university families in no way subsidize this benefit and Lab does not lose any tuition income by offering this benefit. The University makes a direct transfer of funds into Lab’s accounts to cover this benefit. That transfer translates to about 33 percent of Lab’s total budgeted revenue.