Are you worried about being able to afford college? Are you scared of being buried alive by student debt? Are you getting tired of these rhetorical questions? The University of Chicago, ranked number four in the nation, might be able to help.
On October 29th, 2012, Rahm Emanuel joined together with the University of Chicago’s president, Robert J Zimmer, to announce the school’s new initiative- The UChicago Promise, a new program aimed towards helping local Chicago Public School students pay for college.
In a statement that can be found at http://www.uchicago.edu, President Zimmer said, “The University of Chicago has a long-standing commitment to improving urban education through research, innovative ideas, and practices. That commitment begins here in our own city.”
In an effort to incentivize more inner-city students to apply for college, U of C has waived the application fee for all residents of Chicago. But, not only that, the UChicago Promise has also ensured that starting in the 2012-2013 school year, incoming freshman will be given grants in place of the loans they would have to take out.
The cost of the 2013-2014 school year includes the cost of tuition- $45,324, student life fees- $1,064, room and board on campus- $13,653 per year, and books and personal expenses are estimated at $3,821. Although the Free Application for Federal Student Aid (FAFSA) can cover a portion of the price, there are still thousands of dollars left to pay. This is where the UChicago promise comes in; without even having to apply, Chicagoland students will receive the benefits of the program. The goal is to ensure that once a student graduate from colleges they will be successful in their careers without having to carry the burden of student loan debt.