<p>I recently got accepted into U of C (yeah) and then I recieved the financial aid package. After everything was taken off, my family still was on the hook for about 25,000. My father salary does not offer enough disposable income which can pay such a fee a year without resorting to drastic measures (like selling the house). So, my mom offered to get a job to pay for it. Unfortunately, as financial aid is reconsidered every year by U of C, the cost for my sophmore year will be higher and more money would need to be scrounged. Is there any way, beyond the substantial student loans totaling 100,000 or breaking my family's back, to pay for U of C?</p>
<p>There are federally guaranteed plus loans that parents can take at very good interest rates. These begin with a ten year payback, but with consolidation options, this can be extended to 30 years making the monthly payments quite low. One can prepay with no penalty, and make greater than agreed monthly payments to pay it off sooner. These loans are quite flexible. Once the final disbursement is made in March of the first year, one begins their repayment. It makes the $100,000 for college manageable. </p>
<p>Gaaahhh did my eyes delude me when I saw that financial aid summary or is Chicago really going to cost OVER 50k next year?!</p>