Renewing Your Aid
Consideration for financial aid each year depends upon certain factors: applying for aid by stated deadlines, satisfactory academic progress, the demonstration of financial need, and the availability of funds. To be eligible for priority consideration, you must submit the FAFSA by March 1 of each year. Students who demonstrate financial need will be awarded financial assistance for the next academic year. For renewal students, the dollar amounts of aid will normally remain constant if a student's need remains the same. Yearly aid increases or decreases are based upon an evaluation of the financial aid application.
For those academic merit awards with renewal criteria based upon the demonstration of a specific cumulative grade point average (GPA), see your original merit award letter for your specific renewal criteria.
Many factors can serve to reduce a student's financial aid eligibility in any given year. Some of the most common influencing factors are as follows:
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An increase in either the parents' or the student's income as compared to prior year
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A decrease in the number of family members
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A decrease in the number of family members in college
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An increase in the parents' or student's reported asset holdings
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