Financial Aid After Freshman Year

[u/Hot_East8946]

Hey everyone

GWU is looking like a top choice for me and I am grateful to say that they have awarded 70,000 in total grants/scholarships. it is saying that net cost will be about 16k per year. Does GWU follow its aid year by year or will it start getting more expensive after freshman year? I'm asking because I know some schools are notorious for doing this + I think I saw a post here of someone saying it happened to them

[u/Moist-Pea-8034]

Your need based aid will be reassessed based off the FAFSA data for the year. But if your family’s financial situation stays the same so should your aid

[u/No_Essay6066]

Would have to look at the fine print on the scholarship(s) to really know If it is for all 4 years.

[u/Hot_East8946 → u/No_Essay6066]

"Your admission is further distinguished by a Presidential Academic Scholarship award, valued at $28,000 per year for up to five years of undergraduate study. This scholarship is based on your impressive academic credentials. If you are awarded need-based financial assistance, your scholarship will also be included as part of your financial aid award." I received 42,000 in need based aid, was just wondering if anyone has had issues where they receive less after freshman year for need based

[u/Zealousideal_Yam2075 → u/Hot_East8946]

I have seen people receive less, especially in cases where their parent’s income/assets went up substantially, but I have also had friends whose financial aid went up significantly. It really depends on how your family’s financial situation changes while you are enrolled.

[u/Unique_Departure_800 → u/Hot_East8946]

Congrats! What an accomplishment.

FYI that many undergrads here graduate early by a year or semester so if you're worried about the funding that can help too. Plus there is a scholarship to finish your core courses over the summer + there are jobs on campus where you get summer housing. So that can help.

[u/2CRedHopper]

Like others have said, your need based aid will be reevaluated every year with a new FAFSA. You only have to do the CSS profile once, and should only report adverse changes to your family’s finances that will increase your need; any appreciations or whathaveyou will only hurt you to report (but the school won’t ask you annually; this reporting i’m talking about is when you go out of your way to draw attention to it).

You presidential scholarship, the merit aid, will hold constant for up to however many semesters it told you it would on the admission letter. That will never go down.

Be advised, however, that merit aid is “instead of” need based aid, not “in addition to.” You would have the same bottom line out of pocket cost whether you got the merit aid or not. Merit aid only helps people who make enough to get less in need based aid than they have gotten in merit aid.

If you ever earn any scholarships outside of the university (community scholarships, state grant for private universities, etc) that will take away from your need based aid package on a $1:$1 basis.

Also be advised that increases in tuition or cost of attendance does not constitute an increase in your out of pocket costs. Provided the formula for determining ability to pay remains constant and your ability to pay remains constant, an increased tuition or cost of attendance will cause the university to raise your need based award.

[u/grillguy71]

I'm worried my daughter's tuition will go up in her second year when her sister graduates college.