<p>It’s getting close to the ED/EA deadline… I’m applying to Penn ED, and Chicago EA (I’m pretty sure this is legal!). My parents are not sure about whether or not we should apply for aid. They have a college savings account worth about 3 years of Penn, and we think that there’s no chance a college will be giving me anything, especially if it’s just loans. At Chicago, how is merit money given out? And Penn doesn’t give out merit money, right? Is it worth my time to apply for aid?</p>
<p>Why not run some numbers through a financial aid calculator and then see if your expected family contribution is less than the cost of attendance? If it is, then apply for aid. Here are several calculators: <a href=“http://www.finaid.org/calculators/[/url]”>http://www.finaid.org/calculators/</a></p>