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I was wondering if you only get the same amount you received this year for all four years of college. Tuition prices rise every year, so shouldn't the amount of financial aid increase every year accordingly?
Answers
No, your financial aid amount changes every year, according to your financial situation and your tuition costs. It's technically possible to have the same financial aid amount year to year, if all aspects of your application change proportionally; however, that's very rare. You should expect to get more financial aid, if your financial situation stays the same and tuition costs rise.
It really depends on your financial situation at the time you reapply every year. If there are anomalies in your financial situation, then you might see a reflective financial aid amount. For an extreme example, if your family wins the lottery, then it's doubtful that you'll get the same financial aid (if any at all, if you now have $$$$) than you did the prior year.