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Will my financial aid be renewed after my first year?
Yes. All need-based financial aid and some scholarships are renewable; however, you must reapply for financial aid each year to demonstrate continued eligibility. Renewal information and instructions are sent to all currently enrolled students, usually in January, for aid for the following year. The composition of your financial aid package may vary depending on the funds available in individual aid programs. However, you are likely to receive similar financial aid funding throughout your undergraduate education if:
- Your scholarships and funding are not limited to one year.
- Your family's financial situation remains similar. (Dramatic changes in income and marital status and changes in the number of children in college will affect your Expected Family Contribution and your eligibility for financial aid eligibility.)
- Federal, state, and institutional funding of financial aid programs remains similar.
- You submit the appropriate application materials by priority deadlines.
- You continue to meet enrollment level and Satisfactory Academic Progress (SAP) requirements. The Office of Financial Aid monitors enrollment levels (the number of credit hours you take) during each term. If you fall below the minimum credit hour requirements, you may be required to repay all or part of the aid you received.
- You report accurate information (income, assets, etc.) on your financial aid application(s).