<p>I guess I just need reassurance, uplifting words, SOMETHING...because I'm freaking out.</p>
<p>Words couldn't explain how ecstatic I was when I opened that decision letter back in December. The world literally stopped spinning for 5 brief seconds, and I felt as if I was overcome with a tidal wave of sheer joy. This feeling of ecstasy did not end there. The $10,000 merit scholarship was the icing on the cake....or so I thought.</p>
<p>My financial aid package was completely, unexpectedly, way out of our league. My mother's AGI is under 70k, but because her company puts 10% of her income in an IRA, it seems as if we make more than we really do. Our EFC is over 10k, despite the 10k merit scholarship. The University has come up with many ways to alleviate this burden, by encouraging me to send in an appeal, and even waiving my deposit fee, but if the appeal doesn't decrease our EFC under the 10k range, I will have to take out about $3500 to $4500 in loans each year.</p>
<p>I do plan on attending law school afterwards, so loans are a big concern. But the feeling I felt when I first stepped on campus is completely incomparable to any other campus. I also feel as if certain opportunities, like the CCI, Metcalf Internships, and Pre-Professional guidance are just too good to pass up. I love this school, I really do. Committed, and everything. But please tell me that graduating from here with $18,000 in debt is worth it.</p>
<p>honestly, 18k really isn’t THAT much debt compared to what lots of other people have, especially if it’s subsidized. but since you’ve already committed, all you can do now is stay in touch with the financial aid office and hope for the best with your appeal. good luck!</p>
<p>Talk with the aid office whether through an email or on the phone. They are quite understanding when it comes to unique situations. UChicago is not an opportunity you want to give up. If the process can’t be settled before the deposit deadline, I can only say that they have accommodated special circumstances but there is no guarantee. Best of luck!</p>
<p>But Trapezius and cac815, I’m planning on going to law school afterwards. a T-14 to be exact. I really, really, really do not want to be $200,000 in debt by the age of 25, so that’s why I am desperately trying to minimize the amount of loans I rack up during my undergrad.</p>
<p>sa0209, I’ve talked to them many times, and I can honestly attribute to the fact that they are helpful and kind. My fingers, toes, and eyes are crossed hoping that the appeal will be successful. The FA officer I spoke with kind of hinted to the fact that <em>could</em> be lowered, but I’m trying to be pragmatic and prepare for the worst case scenario.</p>
<p>I’m sorry if it seems like I am being trivial over the student loan debt, but I’m thinking long-term, and know that entering law school with a crap ton of loans is recipe for financial disaster.</p>
<p>18K is really nothing compared to what you’re going to pay for law school.</p>
<p>However, what are your other options and how much would they cost? How much in savings could be redirected from undergrad tuition to paying for law school?</p>
<p>My only other option is UT Austin, and I got a full (merit based) scholarship. There’s nothing wrong with that University at all, and I’m fully appreciative of the scholarship, but 1) the heat, 2) the dearth of a profound intellectual atmosphere, and 3) the size of the school itself is really more than I can bare. </p>
<p>The few grand I had saved up is actually going to purchasing a car so I’ll have transportation to my internship. I really can’t even think about saving for law school as of now, because undergrad financing is still up in the air.</p>
<p>So there seems to be a consensus here: $18k in loans is not a big of a deal as it seems?</p>
<p>I know all about minimizing debt, since I am in med school.</p>
<p>UT Austin won’t prevent you from getting into a T14. Dont know what kind of scholarship you got from there, but if it is the 40 Acres one, I would definitely choose that over UChicago. Otherwise, 18k isnt a whole lot of debt considering how much law school costs</p>
<p>I’m all about minimizing debt - but yes, I think UChicago is worth the addditional debt in this case. That amount us close to what debt my daughter will have upon graduation and she’s planning on grad school as well…</p>
<p>Congratulations LLL, you have 2 good options to consider.</p>
<p>While aspiring to go to a T14 law school is great, I would suggest you focus on the decision at hand.</p>
<p>Personally, I think there is no question that graduating UChicago with (only) $18k debt is the better choice, but that is a decision that you need to make.</p>
<p>As for going to a T14 law school, you can make that decision when the time comes, weighing the factors as they exist at that time, eg, whether you still want to go to law school, what the cost are of different schools, and what a T14 school offers you over maybe a local school that will cost you less.</p>
<p>Many have similar issues, accept a full ride at the … (State University) or go to … top tier college/university (not implying State University of … is not a great school). </p>
<p>Your $18,000 is what you will have in loans, what will your Mom have to pay over 4 years? Will she have to take out parent plus loans? </p>
<p>In the end does the name brand school help get into grad school (law school)? Maybe but great grades (from UT Austin) and a great LSAT will get you into a great Law school too and you will walk away scott free. And every college experience is what you make it. </p>
<p>Chickeninacar, I do try to focus on the present, but I’m a pretty anal, proactive person, and I can’t find peace until I’ve planned out the next few years of my life, even if it doesn’t go as planned.</p>
<p>Back to the point, </p>
<p>my mom has made it clear that she can contribute no more than $6k a year, but she will not have to take out loans to afford it. </p>
<p>My decision really isn’t based too much on prestige/name-recognition, because when I tell my teachers/friends/family that I’m going to UChicago, I get blank stares. Austin is a great place, and before I got my Chicago decision I was fully prepared to matriculate at UT, but little things such as class sizes, campus size, opportunities for great connections in the obscure field I plan on studying are pretty big factors to me in making my decisions.</p>
<p>My loan amount would be less than it currently is, but I just received an (un-paid) internship with a senator, so I will not be able to save the $2k that the University suggests all incoming freshman earn the summer before starting.</p>
<p>In the scheme of lifetime earnings, $18k is minimal! In the greater world UChicago is very well known. You are way over thinking this … You may not even end up going to law school. Focus on the decision at hand and be grateful for what the school did give you. Again 18k is not much at all for a $250k education.</p>
<p>I guess you have to make the decision as to whether $18K in debt is worth it or not to go to UCh. UTAustin is a fine school, so it’s not an all or nothing choice. I think your package is fair given your parent’s AGI, and I’d be surprised if they come up with more grant money. You are wise beyond your years to be considering the extra cost of borrowing this amount. </p>
<p>Frankly, to get into a t-14 law school, grades are essential, and the curve is probably a bit gentler at UT than at UCh.</p>
<p>Looking at the big picture, as you are, a Chicago education is definitely worth it. I have been out of college for a while now to give some perspective. You can go far and wide and not find the kind of “liberal education” founded on questioning the accepted “truth” and to dig deeper into the readings to find and discover your own inner meaning not written or explained in Cliff Notes or some interpretive essay from the library…Chicago will change you…will make you into a critical thinker…make you question the obvious…make you challenge the status quo…</p>
<p>…as others have noted in past…when you go off to another top law school or medical school or business school or getting your PhD at another institution…that is when you will miss your Chicago education the most…you will know why. Wish you the best.</p>
<p>Murphy600 and cptofthehouse, it was not in my intent to come across as ungrateful to the University. I am VERY appreciative for what they’ve given me, and how they’ve been such a pleasure to work with. I don’t want to go into huge detail, but my mother just graduated 2 months ago, and is set to begin paying back the money she borrowed to complete her degree…a LOT of money. On paper, our EFC seems on point with her AGI, but I have siblings, and she has student loans, so it’s not as “cut and dry” as it seems. Things would be extremely tight. I don’t have any expectations for the appeal because I know they’re not obligated to give me any more than they already have, which is why I’m preparing for what seems to be “the worst case scenario”.</p>
<p>As far as basing a decision on something as indefinite as law school,
I’m actually quite sure that I will be attending. Years of debate and mock trial can attribute to that, but I am aware that there’s a possibility that I may change my mind. That possibility is slim though, so I have to make my decisions on what I feel is as close to concrete as possible (for now!)</p>
<p>Gravitas2, UChicago’s intellectual atmosphere is so enticing. I sat in on a class during my visit, and ended up spending 30 minutes after class speaking with the professor about Tort Law. I walked around campus with another admitted student for an hour, just sipping coffee and having a civil conversation about drone strikes and Pakistan. I loved it. I’ve never free enough to proudly showcase my intellectuality, but I did here. </p>
<p>But now after hearing that $18k isn’t too large of a sum, I feel a bit more relieved in my decision to choose UChicago. Maybe I’d be able to make a connection and find a summer job during my collegiate career which would end up lowering the overall amount?</p>
<p>^^And don’t forget if you plan to apply to Chicago Law School you will have an inside track if you play your cards right…and Chicago Law is one of the few top schools to offer full merit scholarships…</p>
<p>I am in a similar situation to those waffling between a less expensive state school and a private school- for me, it’s UMich and UChicago. While I love Uchi, I am struggling with the fact that it costs double what I’d pay instate for UMich (even with my merit scholarship; we did not get any FA). My situation is a bit different from the OPs- any advice or thoughts would be appreciated!</p>