<p>It's just about time to file that danged FAFSA again, and I'm feeling more than a bit uneasy about what kind of aid we can expect for D's second year. I seem to remember reading last year that 2nd year financial aid is frequently far less generous than what is offered when a college is trying to secure student's commitment to attend. Does anyone have any first hand knowledge of this? If family finances have not changed very much in a year's time, what can we genereally expect when filing for sophmore year financial aid?</p>
<p>I think that it depends on the college. My guess is that you'll get better info if you name the college here.</p>
<p>At the third tier college where I used to teach, the amount of loans, work-study and summer earnings increased a great deal for junior and senior year. That's because students who reached junior year were more likely to continue in school to graduation. They also could earn more $ than could freshmen and sophomores.</p>
<p>The school had only a limited amount of aid and had to give that to the students for whom it was most likely to encourage to stay in college.</p>
<p>Thanks Northstar. D is attending Bryn Mawr.</p>
<p>I can tell you that at Knox, we received almost exactly the same financial aid package as the first year. Little changed in our finances and a slight rise in tuition.</p>
<p>I have heard bad things about BU - that they intentionally manipulate financial aid (both merit & need based) to lure students into attending, and then suddenly drop the packages the next year.</p>
<p>Our aid ata public FAFSA school has gone up and down commensurate with our income changes. A well-known (non-ivy)private my daughter considered was rumored to increase loans dramatically for year 3, we elected not to risk it and have hgeard from others that is what happened to them!</p>
<p>We specifically asked Bucknell about their aid packages and they told us we could expect the same amount (if our finances remain the same) all four years. I have heard that many schools start putting in more loans the third and fourth years.</p>
<p>We will have a second child starting college next fall, so I expect that while our need may increase, so will the loans and work study.</p>
<p>You should always get the same financial aid...even if the college goes up in value the financial package should be re-negotiated to make up for the increase in college.</p>
<p>I'm still not sure I understand the fluctuations in financial aid if it is not tied to an actual fluctuation in income. It seems to me that if the formula stays the same, there should be no variation beyond a couple hundred dollars.</p>
<p>Many colleges expect the student to kick in a bit more each year-say $1000 more, so the parental portion remains the same but the student loans offered and student contribution may go up. Not really fair for those kids who are really into school ECs and have some directed summer plans and need financial aid but that is the way it goes. It does depend on the school, though. There have been some schools that have been outright accused of "bait and switch" and if there are too many murmurs of that among the students, that is a cause for concern. I would keep tabs on the financial aid department, actually your student should. It is easier to cut someone whose face you do not know, who has had no contact with you.</p>
<p>At Wake they're increasing tuition and housing so I don't know what to expect next year. I would hope that these increases would proportionally boost grants and loans. Also, I noticed last year that the federal grants and loans limit increases for juniors and seniors. So I don't know how that will figure into finaid in the coming years.</p>
<p>somemom: Can you please give us the name of the private college? My friends are applying to many private colleges as well.</p>
<p>Let's just say the financial aid changes come inand surprise you like a Trojan Horse :)-</p>