<p>So, I'm currently a sophomore in high school and have been speculating about my chances of going to my ultimate dream school once I graduate--can you guess what it is? </p>
<p>Anyway, I realize that Uchicago has a pretty lofty cost and the income of my legal guardian is DEFINITELY less than $15k (I'm actually thinking it's about $12k at this point, to be quite honest.) Yes, I realize that this sounds ridiculous and I probably sound like a total maniac even thinking about Chicago, BUT I was curious about something I found while looking at their financial aid pages: </p>
<p>When they say "the average award ($)", I assumed that they meant in total to the student. BUT, it would be pretty fantastic if that actually stood as an annual award. Can anyone clarify which one it is? (Sorry for the stupidity of this question, but I'm kind of grasping for anything that will point to me being able to attend one day.)</p>
<p>I can’t be certain, but based on my own income and award, that seems like it’s a total and not annual. Again, I may just be an exception since that chart doesn’t consider things like assets. I have a friend whose family has a similar income to mine, and her aid (I think) is actually close to the average on that chart annually. But again, it might be an exception.</p>
<p>From what I’ve heard, Chicago is supposed to have great financial aid for lower income families. Upper and middle class families don’t seem to get quite as much support, but I’m still only a prospective student, so I am not sure.</p>
<p>I would advise you to apply anyways if it is your dream school. Look at what aid you’re offerred if admitted, and then make a decision. It’d be a shame not to even apply without knowing if you could have made it or not.</p>
<p>It can’t be total–that would be completely ridiculous. It would mean that a family making less than 18k/year would receive 10k/year in aid for a COA of 50k+. Chicago’s aid is weird and inconsistent (moreso for families in the upper middle class range), but it’s not that bad.</p>
<p>I was comparing it to my family’s income and award. Like I said, I wasn’t certain. I was just offerring the best help that I could with a limited knowledge of what types of awards lower-income families are offerred. Sorry.</p>
<p>Yes, it’s annual. But… this was 2006-2007, BEFORE the Odyssey scholarships. If your parents make less than $60k, add $5.4k to that figure. PLUS, you have to realize that this was a time in which the total cost of tuition (tuition, room and board, etc. all included) was about $46k. Now it is about $55k. If your parents make less than $15k and you gain entrance, you are almost certain to receive full financial aid. That is, you will probably have to pay your annual student expectation amount (about $2-3k/year), but beyond that, it should be all covered.</p>
<p>Yield for students who receive Odyssey scholarships (those under $75k) is 61%, which means that the students were very satisfied with their aid packages.</p>
<p>And yes, that website figure is annual. But you have to consider that that amount MAY include loans. It does not clarify, so it is ambiguous.</p>
<p>Thanks for all the feedback, everyone. I do agree that UofC’s financial aid information has been a bit vague, and this definitely puts things into a bit of a better perspective. </p>
<p>And I’d probably apply no matter what the odds of my financial situation there would be, just because I wouldn’t want to cheat myself of knowing what could have been.</p>