<p>“Also, if I am accepted do you think I’ll get any type of need-based scholarship? My parents make $95,000 a year which I know usually isn’t the type of income that scholarships are given to but I’m just wondering whether I’ll get anything at all.”</p>
<p>Your EFC (Expected Family Contribution) is calculated based on factors such as your family size, income, assets, whether your parents own their onw business, number of siblings in college, etc. Your need-based aid would be Chicago’s total Cost of Attendence - EFC. Some of the aid would be grants (that you don’t need to pay back), and some in loans. </p>
<p>One of the things that you and your folks need to do is get a handle on what your EFC is likely to be. To do so, go to <a href=“http://apps.collegeboard.com/fincalc/efc_welcome.jsp[/url]”>http://apps.collegeboard.com/fincalc/efc_welcome.jsp</a> and complete the estimate. You will need more information than just income, so get a parent involved. You need to have this happen soon so your folks will get over the sticker shock for Chicago (and the other private school to which you wish to apply). </p>
<p>Information on Chicago Finaid is here: <a href=“http://collegeaid.uchicago.edu/index.shtml[/url]”>http://collegeaid.uchicago.edu/index.shtml</a></p>
<p>I would encourage you to look at the financial aspects ASAP. My crystal ball’s not working, so I can’t tell you if you’ll get into Chicago or not, but you’ve got really strong qualifications, and so some fabulous school is going to want you. You need to know if your folks might be able to manage their EFC or not - because that determines the schools to which you can reasonably apply. We are in a similar income bracket - its not what you call pleasant coming up with our EFC - but we’re over halfway though and are sort of managing. Some families can, others can’t. Hope yours can!</p>