<p>The University of Chicago sent me a financial aid rejection letter a few days back. I prepared for this, however, in that I enrolled before the aid letter came so that I didn’t accidentally decide to go somewhere else based on the money. My father is not living and my mother will not be contributing any money to my education. I have 200,000 in inheritence, which is probably why I got no aid. This money is really all I have though, as my mom cannot afford to contribute anything, and I am planning on continuing on to medical school. Does anyone think it is worth appealing, or is that a complete waste of time? Besides that, any suggestions are useful.</p>
<p>What else would you use the inheritance for if not for your education? Unless I’m missing something, it seems like you’re in a great situation.</p>
<p>I’d look into buying a house or condo and talk to a financial advisor. Make sure you talk to a college financial advisor and not just a tax advisor. Tax planning and college finance planning are two completely different animals.</p>
<p>You may be out of luck for this year, but restructure your cash now!</p>
<p>Yes, it is a complete waste of time to apply for need-based financial aid when you have more than the cost of your education sitting in the bank.</p>
<p>You could save most of that bundle going to UW which can easily provide as excellent prep for med school as Chicago and has a very good med school that prefers UW grads. Sounds like a slam dunk to me. $50k vs $200K Hmmmm. Let me think…</p>
<p>definitely speak with a college finaid advisor. (You might be better off taking a gap year and buying a condo.)</p>
<p>I wouldn’t give my entire inheritance to UChicago, and frankly I think the idea that they think you should is downright insulting.</p>