How good is Financial Aid?

Colleges and Universities A-Z University of Chicago ✅
41

<p>"Just a personal thought: including my parent's RETIREMENT FUND as an asset is grade-A bull ****."</p>

<p><a href="http://phoenix.uchicago.edu/pdfs/Financial_Aid_Opp_625.pdf%5B/url%5D"&gt;http://phoenix.uchicago.edu/pdfs/Financial_Aid_Opp_625.pdf&lt;/a&gt;&lt;/p>

<p>Page 3, Column 2, at the very top. They say they don't use your parent's retirement fund as an asset. o_O;;</p>

<p>But I have another question.</p>

<p>Now, next year, I will be attending UChicago, and I will also receive a Pell Grant, due to the fact that my family is in severe financial need. Only 12% of total UChicago students receive Pell Grants. According to <a href="http://collegeaid.uchicago.edu/prospective/average_aid.shtml%5B/url%5D"&gt;http://collegeaid.uchicago.edu/prospective/average_aid.shtml&lt;/a>, the top 14% receive a gift from UChicago of about $37,000/year. So why did I only receive a gift of $22,000/year, when I should be getting at least $15,000/year more?</p>

<p>My parents are divorced, and I live with my mom, who makes $20,000/year and receives $14,000/year as child support from my father, who makes $75,000/year. We can't afford to pay $20,000/year for my education and despite the fact that I've taken up a summer job and will likely work through the school year, I just can't pay all of this money.</p>

<p>I am wondering if UChicago made a mistake in my financial aid. I heard they judge by EFC, which doesn't take the non-custodial parents' income into account. From various EFC calculators online, I've found that my parents shouldn't be expected to pay more than $3,000/year for my education. Should I challenge the amount of aid I received, or are they supposed to take my father's income into account?</p>

<p>Also, I noticed that UChicago claims to fulfill 100% of student's expected need. How is 'total expected need' calculated in this sense? By the university's own judgment or by the EFC?</p>

42

<p>Why not appeal it? Mistakes are made and information may be misunderstood.</p>

43

<p>No, my experience with Chicago is that they use the non-custodial parent's income, too, and that they expect the non-custodial parent to contribute to your college, in addition to any child support. So it sounds like your award is because of that. </p>

<p>You should contact Chicago's financial aid office directly, but that's what sounds like has happened to you. Chicago has been <em>the most difficult</em> school we worked with about divorced parents.</p>

44

<p>I am a current student at the U of C. I work in admissions, giving tours and working on PSAC and such, and believe me when I say my biggest qualms (and those of everyone) about UChicago is the cost/****ty finaid. It should be helped by the awesome donation we just received, but the financial aid office needs a serious revamp, asap.</p>

<p>For example, out of 20-some-odd scholarships I received from outside sources, finaid lost 12. 12!!! And had I not been very on top of the Bursar's Office AND Finaid, no one would have caught it and this is simply unacceptable. The office is, as you said, unhelpful and ornery. One of my many plans for the summer includes drafting an official complaint to file with the dean.</p>

<p>Other than that, this place rocks. Straight up.</p>