<p>Does financial aid end at four years? If I need to stay an additional semester or year to finish my degree will financial aid continue at the same level? Or do schools automatically eliminate aid once you hit four years? Thanks. I know some kids who are "5th year seniors".</p>
<p>It depends on the school. Some schools specifically state that their institutional aid is only for four years.</p>
<p>I believe if you are Pell eligible, this is for more than four years, and as long as you don’t exceed the Stafford undergrad limit, I believe you can take those loans for additional terms as well. AND some schools do award their institutional need based funding for additional terms beyone four years…check with the school(s).</p>