Looking for a little information from experienced families. Georgetown has offered a nice grant for freshman year. Does financial aid keep pace with the increases from year to year? Does ever dollar a family earns more from year to year reduce the financial aid given by Georgetown.
Thanks
You apply for financial aid each year and the level of financial need (and, conversely, family ability to pay) is calculated each year based on the cost of attendance for that year. The aid you receive for the first year is generally a pretty good indicator of what it would be for the other years, barring any sharp increases or decreases in income, etc.
There was a thread a year or two ago about someone who lost a bunch of grant aid after the first year. No problem with grades, just a 20k shift in policy.
I took that as a cautionary tale about the inherent unreliability of grant aid.
Others have a higher tolerance for that sort of risk.
Edit: I meant to say no changes in income, no discipline issues, good standing, etc. The U just said “we don’t have as much to give out this year.”
Do you recall if this was Georgetown in particular?
For ds, the FA was fabulous and remained so. One thing that affects FA is the number of dependents and number of them in college. If a sibling enters college, your Georgetown EFC will go down; if a sibling leaves college, it’ll go up. But that’s the case everywhere, not a Georgetown thing. And certainly a big change in family income affects FA.