<p>So sorry to hear that. This is the quote (I’ve cut and pasted it) from the article in the Sept./Oct. 2007 issue of U/Chicago Magazine entitled “Epic Quest” on which I based my comment:</p>
<p>“If they demonstrate need, families earning less than $60,000 annually will see their student loans replaced entirely with grants, while families with an income between $60,000 and $75,000 will have half their loans erased.” [The</a> University of Chicago Magazine](<a href=“http://magazine.uchicago.edu/07910/features/epic_quest.shtml]The”>The University of Chicago Magazine)</p>
<p>I thought it meant what it said – grants would replace loans. I am stunned that you are asked to pay over 20k per year. I clearly misunderstood the article. Thanks for letting me know otherwise. Looks like we all are in the position of cashing in/borrowing against 401Ks or IRAs or borrowing against the equity in our homes if we want to send our kids to U/C. Not a thrilling prospect. </p>
<p>Has your son decided if he is going to go to U/C? Or are you still debating what to do? It’s a tough decision.</p>