<p>The question kind of asks it all. I'm on the waitlist for Chicago, and, if the rare chance that I somehow get taken off presents itself, I want to be prepared and know beforehand how great or not so great Chicago's aid is. My FAFSA EFC was in the low mid-1000s, if that's any help. Thanks.</p>
<p>Financial aid is a very, very subjective decision. Other people’s individual anecdotes might make you feel better or worse, but you’d be foolish to develop a sense or certainty based on ‘well, my U-Chicago aid was…’ tales.</p>
<p>Right. But I’d like to have a sense of what I should expect if I were to find myself having to make a decision. I’ve looked on Chicago’s FA website, but still don’t have a clear idea about where their FA stands. They say they meet 100% need, but is that heavy on loans or what? I know well enough not to think that just because a person has a similar EFC to mine, I will get the same exact aid. But personal anecdotes can help a bit in trying to figure out how generous Chicago is with its money.</p>
<p>My EFC was under 5k yet it would cost my 21k a year to go to Chicago.</p>
<p>[Project</a> on Student Debt: Institution Details](<a href=“http://projectonstudentdebt.org/pc_view.php?idx=31]Project”>http://projectonstudentdebt.org/pc_view.php?idx=31)</p>
<p>Parent contribution was about equal to FAFSA EFC; both are many times higher than yours.</p>
<p>As a parent I can say that the UChicago philosophy about finaid is that the student must take loans and must work during the summer and earn $5000. These are their basic assumptions. My sense is that they stay pretty close to the FAFSA EFC number, howeer, no school ever reveals their formula for aid. The best you can do is what for acceptance and compare the aid offers.</p>
<p>Anecdotally, I got a $42, 000 grant.</p>
<p>Sounds like a lot, but total fees and stuff mount to $58, 000. O_o Where am I getting the other $16, 000???</p>
<p>I would say the award is fair – but not super-generous. They factor in a fairly low amount for transportation. A computer and health insurance can be added to the COA – but they will only allow additional loans to cover those costs.</p>
<p>Our EFC was a little lower than the FAFSA EFC – but we had significant adjustments not counted in the FAFSA.</p>
<p>They are quite strict on the expectation of work/study, summer contributions, student loans and student savings – which I think is a good thing. kids need to contribute – and it is doable (not necessarily easy – but it can be done, which exactly describes my ability to pay the parent contribution).</p>