Change in Financial Aid Package

Paying for College
1

<p>Ok my financial award just went from this:
Scholarship (renewable) Scholarship $2,000
Scholarship (renewable) $2,000
Est. Ohio College Opp Grant $798
University Need Grant $1,000
Federal Pell Grant $2,660
Federal SEOG $900
Federal Work-Study Program $3,000
Federal Perkins Loan $2,100
Federal Stafford Sub. Loan $1,632
Federal Stafford Unsub. Loan $1,636 </p>

<p>Total amount of scholarships and grants: $9,358
Total aid offered (with loans and work-study) : $17,726</p>

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<p>To this:</p>

<p>Scholarship $2,000<br>
2,000 $2,000<br>
University Need Grant $1,000<br>
Federal Pell Grant $2,660<br>
Federal SEOG $900<br>
Ohio Instructional Grant $2,190<br>
Federal Work-Study Program $2,442<br>
Federal Perkins Loan $2,100<br>
Federal Stafford Unsub. Loan $1,636</p>

<p>Total amount of scholarships and grants:$10,750
Total aid offered (with loans and work-study) :$16,928 </p>

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<p>This change in the aid is actually good for me even though the total amount of aid offered went down, because I wasn't planning on using any of the loans or work-study programs anyways, and the total amount of grants went up. But my question is this: what determines the changes they make in this aid package? Even though the change was good for me this time, I am worried that if it were to change again, it might not be. Is it possible for the aid to go down significantly?</p>

2

<p>It would help to know what college it is, and whether they guarantee meeting 100% of students' documented financial need.</p>

<p>If it's a public university, it's possible that the amount of loans will go up a great deal after your sophomore year. Public universities usually aren't able to meet full financial need, and the first priority is to meet the need of freshmen and sophs. After soph year, colleges have learned that students are willing to take on more debt, and also aren't likely to transfer.</p>

<p>You are really lucky that your grant amount went up. From what I've seen, that's unusual.</p>

3

<p>At RIT, in addition to her fixed merit award, my DD's grant amount increased 2nd yr by about $1000 (can't remember exact amount). They offered that same grant amt 3rd yr in addition to another $800? awarded by her dept. So in her case, she's received more "free" FA each yr - of course, expenses go up as well so...</p>