<p>I understand that what is offered to me this year is not guaranteed for next year. It just so happens that I received a great award from a school and was just wondering whether that award will still be about the same next year if I attend this school given the fact that my parent's income will remain the same. </p>
<p>I just was afraid that if I attend this school and get this wonderful deal the first year, the next year might not be exactly the same. ANy insight is appreciated. Thanks.</p>
<p>My son's merit and departmental awards indicated if they were renewable for all four years [usually with a certain GPA, music scholarships w/GPA and ensemble memberships] or just a one-year award.</p>
<p>Need-based financial aid may change if your financial stats on the FAFSA change. Allowed maximums for student loans do increase for the jr. and sr. years, so schools might shift more aid into the form of loans.</p>
<p>Ask these questions to the FA department - in WRITING!! Ask how much of your FA package will be replaced by loans next year.. ask what the average debt of undergrads is.... ask what the loan limits are at this school for undergrads, ask if scholarships can be lost for GPA reasons, and if they can be reinstated if your grades go up... ask every question that you can think of!</p>
<p>Financial aid offices will be guarded in what they say you will receive in subsequent years. "It depends" is a common refrain. Generally the more money a school has the more reasonable they are. If income is comparable the aid package will be much the same except for the increase in Stafford loan. Need based grant, unfortuntely will not increase to match the inevitable tuition hike. If you have a younger sibling heading off to college while you are still an undergrad, ask the FAO what their policy is for awarding more grant aid to you in lieu of loans. Some colleges, do not recognize a second child in college, now that they have you locked in. I have not seen the "bait and switch" tactic in five years. The colleges have finally learned that that was bad business. I also agree with everything 'anxiousmom' said, but if you ask in writing do not expect anything back in writing, other than a generic boiler plate response.</p>