<p>How does FA work? If you x amount this year does that mean this what you get every year? what is typical pattern for FA? does it stay same for next 3 years or it is reduced every year assuming our income stays the same.
Also one offered is it negociable? Do they match other schools aid?</p>
<p>Thanks</p>
<p>Financial aid can be given as grants/loans/student work. So far I’ve only seen grants in BS. Typically you are awarded the same amount every year unless a drastic financial situation occurred. Schools list drastic as death of family member, loss of job, ect. I have never heard of a FA offer being negotiable. Not all schools will award the same amount. They will all try to meet your demonstrated need, but some schools just don’t have the money to meet your need.</p>
<p>I believe that at Choate, families need to submit a financial aid application every year for the school to recalculate grants. However, if nothing drastic occurs, the financial aid award should remain stable-with a few fluctuations, of course. Just nothing dramatic!</p>
<p>Source: Parents e-mailing an AO.</p>