Staying eligible for financial aid

You must apply each year for financial aidMoney provided to the student and the family to help them pay for the student's education. Major forms of financial aid include gift aid (grants and scholarships) and self help aid (loans and work).. You may complete a renewal FAFSA as early as Jan. 2 of each year. Changes in federal regulations, educational costs and your family circumstances make it necessary to evaluate your eligibility each year.

To continue your eligibility, you also must meet satisfactory academic progressA student must maintain Satisfactory Academic Progress to continue to receive financial aid. Students must maintain a certain qualitative standard (i.e. cumulative GPA) in addition to maintaining a quantitative standard (i.e. successfully completing a required number of credit hours). Students must also complete their degree or certificate program within a maximum timeframe, which may vary according to the student’s status and program. If a student does not maintain the required standards, the student may lose their financial aid eligibility. guidelines.