<p>Consolation,
Yup. S got just enough merit $$ from Chicago that we won’t get any FA from them. That means S gets to reap the benefits of the scholarships he earned vs. having them reduce grant aid. </p>
<p>However, if your S is a $2500 NMF recipient, Chicago doesn’t convert it to a school-sponsored $1,000/yr. award and make up the difference from NMF. I now understand why so many people love UChicago, but hate the FA Dept.</p>
<p>MIT lets students carry over external scholarships to summer earnings expectations and encourages students to defer merit $$ to future years. S also could choose between on-campus work and loans. </p>
<p>While MIT gave us the least amount of money, it actually works out to be more flexible in terms of how S can contribute effectively to the costs. His Stafford would actually help with the family contribution if he takes a term-time job and applies part of his external scholarships towards meeting his student contribution. There is also the advantage of on-campus jobs being very plentiful and interesting.</p>