<p>Ok here's the hopthetical skinny (hyposkinny, lol it makes me think of nervous models)</p>
<p>St. Deerkiss Academy, accepts you and gives you loads of FA. You attend for your freshman year, and fall in love with it. After summer, you get prepared for another year at deerkiss [QUESTION- Do you have to reapply for FA?] But you cant afford it.You're heartbroken because you had tasted a good education and now you've lost it.</p>
<p>could this happen?</p>
<p>You reapply for financial aid every year. Typically, unless your parents financial situation changed dramatically in the last year, the school will give you the same amount they did the first year.</p>
<p>Your reapply every year. As long as your parent's financial situation is similar, you generally receive the same amount of aid (adjusted...at least at my son's school...for tuition increases). If your family income decreases, they do not usually increase fa, unless there has been some catastrophic event which severely impacted the financial situation. If the income increases substantially, then they might decrease the amount of aid accordingly....but it would have to be a pretty big change, I believe. Anyway, schools send out a renewal package in December/January.</p>
<p>you apply for fa every year</p>
<p>it doesn't change unless your family's income changes. </p>
<p>if anything you get more to go with the additional tuition that the higher grade is billed. They would never put a student in a position like that</p>
<p>Your lucky keylyme.:) My financial aid package for my daughter's school was not adjusted, even though the tuition increased $2K and I have another daughter applying to boarding school.</p>
<p>Really? Had your income increased? You know, I don't remember if it worked that way for our older son. For our current student, though, the school sent us a package with an estimate of the amount he would receive and letting us know it had been adjusted up by $2K because of an estimated $2K tuition increase.</p>
<p>No, my income didn't increase. For the 2nd year in a row, I did receive a sizeable FA package from the school, more than they usually give to anyone--so perhaps they felt they couldn't give any more. I am just grateful that they have been as generous as they have, although it will still be extremely tough to come up with tuition for two girls at prep school.</p>
<p>I know what you mean....we are still paying bs loans for our older son, and now college loans, too (although, he has taken many of those himself). My younger son received all of his aid in a grant....and it was quite substantial.</p>
<p>To the OP...</p>
<p>Yes, as the others have posted your family will have the joy of submitting the SSS information every year and sending copies of their tax returns to the school.</p>
<p>And with us, the grant amount of our D's FA has been identical (I've only got the verbal on this year's - they are running behind - paper copy should be arriving any day) now for what will be the 3rd year. And like jennycraig, ours is on the generous side, so even though our EFC took a 3K plus drop this year (my son will be starting college this fall), the grant has been steady. </p>
<p>Yeah, in absolute terms our cost has gone up over the years, but it is still managable and still worth the benefit.</p>
<p>Schools don't like losing good students along the way. It doesn't reflect well on them, nor does it help their college matriculation statistics.</p>