<p>We received a reasonable FA package from a top private school. However, I know that our income will be higher next year so I am assuming our grant will be cut considerably. If it is, we will not be able to afford this school for our son. So, I we are thinking that this is not a school we should seriously consider. Has anyone else had this experience - accepted an award only to have it reduced and then have the school be unaffordable?</p>
<p>Every school that gives need-based aid will reduce the awards if your income goes up the following year. So I'm not sure I understand your question.</p>
<p>Is the grant from the institution or the government? You could call the financial aid office at that school, tell them your projected income for next year and see if they can give you an estimate on how much it might go down. We are in the situation that for 2 years we will have 2 in college and then only 1 for the following 2 years, so I am worried about the same thing.</p>
<p>You have to re-apply for financial aid during the second semester each year which means that you have to submit tax and other info according to the school's requirements. That is precisely because of situations such as you describe, and also situations that may, unfortunately, go the other direction, that is, a loss of income. As far as I have learned, financial aid, except for perhaps some outside scholarships and merit aid, which is inherently different, is not automatically granted for all four years. And, for scholarships and merit aid, you may have to affirm that you have maintained your grades. Those types of aid may not be contingent upon finances.</p>
<p>Keep in mind that in most schools, tuition goes up every year as well.</p>