<p>Recently, this question came to my mind: what happens to one's financial aid package if, say, he or she enters a 5th or 6th year in college? Do you reapply for aid, and are colleges as generous as they were during the first four years?</p>
<p>I'm a senior in high school, so I can't say I completely understand the financial aid reapplication process. But given that so many students take more than 4 years to graduate, this question came to my mind. Thanks a lot to anyone who can answer!!</p>
<p>If you’re in a 5 year program like Architecture, I know some schools(maybe most? feel free to correct me) will continue your finaid. If you just take too long in a 4 year major, your aid goes away(except at a few schools)</p>
<p>
Not really true. It will depend on the type of aid and the school policies. Possibly true for schools that give generous aid from their own money. Probably not true for the majority of other schools. Definitely not true for federal aid. The Pell grant for instance is available for 18 semesters (strange but true). The Stafford loan has a cap ($23,000 for subsidized for a dependent student) but it is not based on the # of years. If a student got the full amount of sub Stafford for the 1st 4 years they would still be eligible for some the 5th year. </p>
<p>It will even vary for scholarships. Part of my daughters scholarship (full tuition waiver) is for 5 year, the other part (a cash award) is for 4 years only.</p>
<p>So the answer to your question is that it varies. You would have to check on the type aid (federal vs institutional), the schools policies, scholarship rules, etc etc</p>
<p>^^Sorry…I was referring to school’s own money. Normally that’s only good for 8 semesters</p>
<p>you might google “fifth year free” as some colleges used to offer that.</p>
<p>Our experience has been that son was able to receive subsidized stafford loan for 9th semester, after which he graduated. He was under the max fed loan amount.</p>
<p>His current scholarship at grad program is clearly specified for 4 semesters (2 years) only.</p>
<p>I spoke with the finaid office at my son’s school last year asking if finaid was available for a 5th year. My son is a senior now but I was worried about him completing his course work in 4 years (his school has a four year graduation rate of about 80%). His school said yes, finaid is available for a 5th year. I’m actually trying to decide if we should go ahead and apply now for the 5th year of finaid as its still not clear whether or not my son will finish in 4 years.</p>
<p>Yes I would go ahead and apply now.</p>