<p>Actually, it was posted that the full tuition College Honor Scholarships were not released at the time the University Scholarships were.
<a href=“http://talk.collegeconfidential.com/university-chicago-2014/868519-merit-scholarships.html[/url]”>http://talk.collegeconfidential.com/university-chicago-2014/868519-merit-scholarships.html</a></p>
<p>Thank you Fight the Tide. I totally missed that thread. We can continue to dream.</p>
<p>^ Can any of the ppl who received merit scholarships post if anything changed on their Chicago account or if they also got an email about it?</p>
<p>A note as to whether or not EA applicants can still receive scholarships, from Dean Nondorf:
The scholarship committee will continue to meet each month throughout the cycle, and all eligible students will be considered each time. This means that EA students will still be considered by the committee.</p>
<p>So, basically there is one more meeting for the scholarship committee? February must be over with, so that leaves March, since RD decisions ought to be coming out April 1st at the latest. </p>
<p>Well, I guess that’s better than nothing…</p>
<p>I just got a letter in the mail today for 10k, so I’m thinking hope is not lost, guys. They could still be mailing them. Good luck to all!</p>
<p>I’ve got pretty hefty scholarships from several other schools…and nothing as of yet from Chicago. I was thrilled to be admitted EA, but the cost is just…well, it’s enough to bump Chicago a bit farther down on my list. </p>
<p>Well, I guess I can keep my fingers crossed for the next round of scholarships.</p>
<p>I have a quick question: Did those who received University Scholarships already have their mid-year grades in? I’m holding out hope that I may still get one because my counselor didn’t send in the mid-year report until last week due to snow and such. Is it possible that now that my grades are in, I’ll be considered for a scholarship?</p>
<p>Yes. The letter came after my son’s midyear grades were reported. I am pretty sure it was a factor as he did extremely well this past semester.</p>
<p>Good luck to you.</p>
<p>"Yes. Regardless of how much aid you receive, the university scholarship is added onto that amount. "</p>
<p>This was not our experience. Although he did not attend, my son received the $10k University Scholarship for the 2008-09 class. Essentially what happens is that the merit scholarship replaces loans and work study in your aid package. For instance:</p>
<p>Cost of Attendance $50k
EFC $20K
Total Aid $30k</p>
<p>Aid Package before University Scholarship:
National Merit $2k
Work Study $3k
Loans $10k
Grants $15k
Total $30k</p>
<p>Aid Package after University Scholarship
University Scholarship $10k
National Merit $2k
Loans $3k
Grants $15k
Total $30k</p>
<p>So it sure helps by eliminating work study and part of the loans, but the overall aid package is still based on your EFC and no more.</p>
<p>It is my understanding that SBDad is correct.</p>
<p>
</p>
<p>I don’t get it. Regardless of how much you receive in merit scholarships, and regardless of how much you had in loans before you received your merit award, you can still take that amount of loans out afterward as well. The loans are simply a recommended limit, and are managed by banks and the federal government. Same for work-study. So in the end, it’s just like adding $10k to everything. Right?</p>
<p>In most cases the loans can’t exceed the total cost of attendance (COA). One cannot borrow beyond the total COA. They can replace or help with the parental contribution which is 20K in SBDad’s list.</p>
<p>I understand your point about loans, so let’s only consider subsidized loans because those really do have an aid component.</p>
<p>The net effect of merit money can actually put real money in your pocket, but that is not necessarily the case. This scenario for instance:</p>
<p>Cost of Attendance $50k
EFC $20K
Total Aid $30k</p>
<p>Aid Package before University Scholarship:
National Merit $2k
Work Study $3k
Loans(subsidized) $3k
Grants $22k
Total $30k</p>
<p>Aid Package after University Scholarship
University Scholarship $10k
National Merit $2k
Work Study $0k
Loans (subsidized) $0k
Grants $18k
Total $30k</p>
<p>As you can see, while you did eliminate the $6k for loans and work study, but you also cut back your grant money by $4k. The net effect of the $10k scholarship is actually $6k. This formula can have especially harsh results when it comes to the Honor Scholaship if your EFC is about equal to the cost of room & board or less. </p>
<p>I remember thinking that it wasn’t a very equitable formula - giveth with one hand and taketh away with the other - but that is just the methodology that is used. And I should add that this methodology is not peculiar to Chicago, it’s pretty standard practice.</p>
<p>If you don’t mind could others who got it just post their stats…I am curious to see who all got the 5k-10k scholarship.</p>