<p>Chicago abandoned the no-loans policy last year, and this year the scholarship amounts have decreased even in comparison to last year. Currently, UChicago offers $3500 for all students with family incomes under $60k, and $1500 for all with family incomes between $60K and $75K. Still, at least for low-income students, UChicago has a very good finaid policy in place. For example, for a student with an EFC of 0, UChicago will cover (through federal, state, and institutional grants) everything except for approximately $9500, and that $9500 is to be covered through a combination of Stafford and Perkins loans ($7500) and work-study ($2000). Because of the Odyssey scholarships, an additional $3500 is lopped off the $9500, leaving $6000. Finally, the last opportunity for institutional funds is the UChicago National Merit scholarship (If you’re a NM finalist) and that amounts to $2000 annually, which leaves a bottom line of $4000.</p>