$100 MILLION Gift toward Financial Aid at the University of Chicago

Parents Forum
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<p>This is an excerpt from an email I got this afternoon from President Zimmer at the University of Chicago. Financial aid at the U of C is one of the aspects of the school that has most complained about by current and prosective students. This gift should help place the University of Chicago's financial aid department at the forefront of need-based aid programs for similar institutions. I sincerely hope that this gift will revitalize the financial aid program and department at the school, which has been historically weak compared to similar schools.

[quote]
Beginning in the Fall of 2008, incoming students as well as returning students will be eligible for these enhanced aid packages, named Odyssey Scholarships, which will eliminate student loans entirely among students with demonstrated financial need whose annual family income is less than $60,000 and will eliminate half the student loan packages among students with demonstrated financial need whose annual family income is between $60,000 and $75,000. We expect 1,200 students to benefit from the program at a time--nearly 25 percent of the entire College population.

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<p>Just thought I should make it clearer ... $100 wouldn't put too much of a dent in college costs ... but $100 MILLION to the University of Chicago so that needy undergraduates can complete their education without loans will make quite a difference to many!</p>

3

<p>...I forgot kind of an important word there, didn't it? Thanks CNP! :)</p>

4

<p>Yeah, that DOES make a difference! :)</p>

5

<p>It's too bad I can't change the title of the post.</p>

6

<p>hahaha .</p>

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<p>Here is a link the details. It is part of a $400 million financial aid effort.
<a href="http://www-news.uchicago.edu/releases/07/070530.gift.shtml%5B/url%5D"&gt;http://www-news.uchicago.edu/releases/07/070530.gift.shtml&lt;/a&gt;&lt;/p>

8

<p>Wow. That is really cool. What else can I say?</p>

9

<p>Haha I thought the pot was sarcastic at first because of the title. "At the forefront of need based aid programs"...only $100...haha.</p>

<p>But anyway, it's nice to see that universities are doing their best to make sure that students are not inhibited by a lack of money when applying to colleges.</p>

10

<p>The original title of $100 Gift really caught my attention! ha ha ha :D</p>

<p>I changed the title of the thread to the real $100 MILLION Gift. It is more accurate. </p>

<p>Either way, it does get one's attention! </p>

<p>This is a very cool development.</p>

11

<p>Ah, thank you so much, CollegeMom! I think I should pay more attention when I post in the future. :)</p>