UofC financial aid question

[HLH149]

<p>Hey guys,</p>

<p>Is anyone else having trouble getting financial aid because their family owns a small business?</p>

<p>I am really struggling here. UChicago is my top choice school, but now it looks like there's no way I can afford it. My family takes home 90K (there are six of us), but because of the small radio station my parents own, our "adjusted gross income" appears much higher than that. My parents have contacted UChicago's financial aid office and explained the situation, but they have still denied me need-based aid except a 5K loan. They said they may review our case again in March. Is there a chance there?</p>

<p>I did qualify for the 5K merit scholarship and will apply for other scholarships, but those won't make much of a dent in a 60K+ tuition.</p>

<p>Has anyone been able to make this work? Thanks.</p>

[littlepenguin]

<p>How did you explain your situation? Did you write a letter of appeal to the aid office? I had similar issues with financial aid, and after appealing, I got a reasonable grant. From what I’ve heard, most appeals are successful.</p>

<p>Edit: I’m currently a first-year.</p>

[snipersas]

<p>What kind of business is it, and what, precisely, is the source of value holding up the financial aid offer? Oftentimes people miscategorize the nature of business assets, leading to financial aid offers that are lower then they should be.</p>