<p>Sorry if I sound stupid (it's my first kid going to college). So she got a scholarship, and then when the financial package came, it listed a separate sizeable grant (and loans too). My question is: should I assume this is a one year grant?</p>
<p>I'm concerned that a school can seem like a great bargain, but if they take away the grant after the first year, it's not such a great bargain anymore. Especially if it wasn't my kid's number 1 choice. This particular school is maybe number 3 or 4, but more than half the cost of the other ones when I factor in the scholarship and grants.</p>
<p>Thanks in advance for your help!</p>
<p>Yes, your FA offer applies only to that specific school year. Typically packages will remain the same, if your financial situation remains the same. You may want to confirm this with the school’s FA office.</p>
<p>Generally speaking, if your financial situation remains the same, your grants should remain the same. However, for some schools, that is not true. The best thing to do is post on the college’s forum on CC (if there is one) to ask … and you can call the college’s financial aid office to ask. There are never 100% guarantees, but most schools “should” be able to give you an idea.</p>
<p>Read all the info that came with the package. Usually, a school will say something to the effect of “as long as there are no large changes, you can expect the same funding in future years.” My D’s U. clearly states that. When I was in college, my grant was for all 4 years. My D now has a grant for all 4 years, as long as we don’t suddenly make a lot more money or something. You can always call the school and ask. Schools don’t want to lure you in and then cut aid that makes the student have to withdraw in later years. That hurts the schools stats. Keeping students to graduation is very important for a school’s standing and counts in accreditation.</p>
<p>Ask the school if the grant will be there next year as long as income/assets remain the same.</p>
<p>I’ve been told that one way to check if colleges continue to award grants is to check its retention rate from first year to second. It can be found on the Common Data Set. If the retention rate is low, then there’s a good chance that the school does not continue its level of financial support. A high rate would suggest it does. Just a thought. Best of luck to your D!</p>