Second Year Aid

Paying for College
1

<p>Just wondering what the common practice is for private colleges with regard to second year aid. Specifically, if the EFC goes up by say $2,000 compared to the first year, do colleges usually adjust their aid by decreasing the 1) need grant or 2) the loan offer? I realize a 5-6% annual increase in the cost of attendance will always be a factor too. </p>

<p>I wish there were more "knowns" about aid levels going into future years for those of us concerned about the full cost over four years. I find it nerve-racking that returning students don't hear about aid offers until summer, compared to April when they are first admitted.</p>

<p>Thanks for any advice from families that have been through this past the freshman year.</p>

2

<p>I talked to one financial aid officer at a LAC who said that they adjust aid to account for increased costs. Some schools have a policy of increasing the student self-help amount.</p>

<p>Your best bet is to chat with the financial aid offices for the college(s) under active consideration.</p>