<p>Let me describe the situation; I hope that wise hands at CC know the answers to my questions.</p>
<p>High school senior accepts a college offer and pays deposit, then decides to defer and take a gap year. Does the financial aid offer remain the same for the next year, or must one fill a new financial aid application and wait to see what is offered? The question is especially difficult because 10/11 will be the last year without loans (only grants) at the college in question. Class of 2014 will be grandfathered but I am not sure that this applies to those who defer.</p>
<p>I would be very surprised if any school did not ask for new FA apps every year. The award you have is for the 2010/2011 school year…not 2011/2012. Also, if the student defers for a year, he would be part of the Class of 2015, barring extensive additional credits. As always, any questions on FA policies are best directed to the school that creates and administers them!</p>
<p>Definitely, definitely talk to the college. If it’s a no-loans school (for now at least) then it must be one of a handful of elite colleges whose aid is need-based. If it is need-based then you need to apply each year and your need is determined by your income and assets for the preceding year. Each year continuing students have to reapply for financial aid with updated financial information. The FA awards can vary from year to year depending on parents’ and students’ income and assets, and also due to policy changes made at the college.</p>
<p>I would seriously doubt whether the no-loans policy will be grandfathered. That is an important thing to keep in mind about this deferral and to get some confirmation (in writing preferably) from the school if they tell you that it will be.</p>
<p>We had a student post here recently that he/she deferred for a year and got a vastly inferior package. 
I don’t remember the outcome but you can search for it. Anyway, yes, schools will require that need-based aid be applied for annually and you would have to ask whether they will hold merit-based aid for you. If they say they will, get it in writing. (So it may be best to ask your questions via email so you have the answer in writing.) </p>
<p>You would need to ask about the no loan issue. By the way, what would happen if you did one semester then took a semester off? Would you still qualify for the no loans? That might be something to consider although it may not be feasible to leave in the middle of the school year.</p>