Financial Aid: It only applies for Freshman year? That is the question.

Paying for College
1

<p>I have heard from several of my colleagues that some colleges only give Financial Aid during a student's freshman year. After that they stop giving Financial Aid, forcing the student to stay in the school with a higher tuition rate. This might be just a rumor but I am not really sure.
Do you have any ideas as to which schools would do this?
Any colleges that guarantee Financial Aid for all four years?
Please elaborate on this topic as it would help me and everyone else in the CC community.
Please don't interpret me as a pessimistic person.
I'm quite the anti-thesis.
I just want to know the truth just like everyone else.
Discussion on these colleges in particular would be helpful.</p>

<p>Brown University
Columbia University's Fu Foundation School of Engineering & Applied Science
Carnegie Mellon University
Cornell University
Massachusetts Institute of Technology
Rice University
Stanford University</p>

<p>Thank you,
Mr. Anonymous</p>

2

<p>You have to reapply for FA each year so if your family's income skyrockets one year, then yes you could lose any aid. So there is a bit of fluctuation between the years.</p>

3

<p>If your income stays the same, then your package will stay the same at most places, unless their policies change. I know that Stanford doesn't award and then drop, but I don't know about the others. </p>

<p>I can tell you that when my son picked his school, someone told me this same rumor, that the school gave big awards and then dropped the aid down for subsequent years. I actually called the school and they explained to me that wasn't true, and gave me an estimate about how much money my income would have to go up by in order for them to have to reduce the aid. </p>

<p>If you're worried, ask.</p>

4

<p>Is FA only available for 4 years of college? That is what I heard.</p>