<p>You have to reapply each year for financial aid, [ though usually not for merit aid] so any change in parent income can have an effect on the amount of finfncial aid $ received. If there is any question in your mind about financial aid at a college, then contact the financial aid dept and ask them specific questions-are merit scholarships for 4 years or just 1? are grants $$ replaced with loans after the freshman year? How much can you expect aid to go up if tuition increases? and how will the increase be funded- with loans or grants? You should get an idea of your EFC before you give the OK to apply to colleges that are not known to be generous with financial aid $$, or those colleges whose financial aid is largely offered through loans, rather than grants. Above all else, if there is any question of not being able to afford a college, do not allow your D to apply ED !</p>