The National Directory of Certified Public Accountants

Ask A CPA - College Planning & Financial Aid

Do I Have To Reapply For Financial Aid Every Year ?

Yes. Most Financial Aid offices require that you apply for financial aid every year. If your financial circumstances change, Your financial aid may change and you may get more or less aid. After your first year you will receive a FAFSA Renewal Application which contains preprinted information from the previous year's FAFSA form. Your eligibility for financial aid may change significantly, especially if your parents work situation has changed or you have a different number of family members in college. Renewal of your financial aid package also depends on your continued satisfactory academic progress toward a degree, such as earning a minimum number of credits or achieving a minimum grade point average.

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