11.3. Do I have to reapply for financial aid every year?
Description
This article is from the Financial Aid, Scholarships, and Fellowships FAQ, by Mark Kantrowitz with numerous contributions by others.
11.3. Do I have to reapply for financial aid every year?
Yes. Most financial aid offices require that you apply for
financial aid every year. If your financial circumstances change,
you may get more or less aid. After your first year you will
receive a "Renewal Application" which contains preprinted
information from the previous year's FAFSA. Note that your
eligibility for financial aid may change significantly, especially
if you have a different number of family members in
college. Renewal of your financial aid package also depends on
your making satisfactory academic progress toward a degree, such
as earning a minimum number of credits and achieving a minimum
GPA.
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