<p>I got a really good financial aid package from GW which basically leaves me with only $1,600 in subsidized loans to worry about per year. In a GW pamplet it says that the financial aid is "guaranteed" to students for 10 semesters as long as they maintain full time student status and I believe good grades. </p>
<p>My question is - is this a guarantee that they will have the same package every year or just a guarantee that they will give you financial aid if you need it every year? </p>
<p>Last year I was only able to work a part time job and didn't make much money. This year I'm working for about 4 1/2 months at a pretty good job and I'm afraid the income that I will make will hurt my chances for getting such great aid for next year. Do they reevaluate every year?</p>
<p>No, it won't hurt your chances as far as I know. The aid amount is constant and can only go up. This is because of their fixed tuition plan. I asked during a session "So if I win the lottery does that mean that I will still be receiving the same amount of financial aid?" and they answered "yes."</p>
<p>I believe that the scholarship portion (merit aid) is guaranteed - but the need based portion is still subject to annual review and is not guaranteed. If you earn more money I believe it could affect your eligibility for certain Federal loans and Work Study programs, at least. That's my understanding of it anyway.</p>
<p>It may affect the federal loans and work study, but it won't affect the scholarships. The merit aid is in no way guaranteed. You have to maintain a certain GPA to continue to receive the merit aid. So basically, if you're on financial aid and you received a large scholarship, that money will be with you for four years regardless.</p>