<p>I received an extremely generous financial aid package with a ton of grant money and very little in loans. Price is definitely a huge factor for our family. I heard some colleges start off by giving huge grants but give loans instead after a student has enrolled into the college. If my financial circumstances stay the same over the next two years, will the grants I receive most likely remain consistent as well?</p>
<p>Very consistent. I got the same package pretty much every year. (Only crappy schools do the bait and switch). Vanderbilt has a huge endowment.</p>
<p>From what I understand, for students who maintain a consistently good GPA (by that, I mean, over a 3.25), financial aid often increases over the four years.</p>
<p>increases? really? sweet</p>
<p>however, what if my family income increases by 20k. will my package stay the same or will it change substantially?</p>
<p>My roommate had a low GPA and his financial aid was the same all four years. As long as your parents don't become millionaires you will pretty much the same package every year.</p>
<p>If your family income were to go up by $20k, I think you will see decrease in financial aid. That just makes sense. If your family earns more, your need will be less. It's kind of hard to know how much it would go down, though. You can do an institutional methodology EFC analysis on a finaid calculator to get an idea. My off-the-top-of-my-head guess is that it might go down around $4-5k for a $20k increase. Since it's Vandy's own grant money, though, they can give you what they want to give you. They might be more generous. It's hard to know for sure. However, since the consensus seems to be that aid is consistent ... your chances for a fair deal every year are very good.</p>
<p>I got a ridiculous financial aid package. Like 44 grand a year. </p>
<p>So it is safe to assume, I will only be paying like 9 a year for all four years</p>
<p>I think, Tim, that it is safe to assume that amount only if your parent's finances do not change much over the next three years. I think you have to resubmit all of the financial aid forms and supporting documents every spring.</p>
<p>Vanderbilt has been very generous. I think all students need to keep in mind, though, that if the aid package includes loans, you will ultimately be paying more than the annual contribution that is required at this point.</p>
<p>Vandy's been very generous to me. As a senior, though, I must admit that my financial aid package, whiile the total has remained the same, the amount in loans has gone up each year by a $1-2,000. I guess it depends on your family situation but I think they try to make your package as a freshman and sophomore look extremely attractive. I saw a significant change my senior year, but that could also be because my older sister graduated from another college last year so our financial need changed for my senior year.</p>
<p>That would definitely be the reason, VManiac! Your family contribution theoretically doubled, since you had only 1/2 as many kids in school your senior year.</p>
<p>If Vanderbilt gives you Stafford Loans, the reason they go up each year may be due to the loan policies. Freshmen can borrow up to $3,500, sophomores $4,500, and juniors/seniors $5,500 per year.</p>