Risk of Need-Based Financial Aid

[BucsFan813]

I'm not sure if this is the right forum for this...

Is there a lot of variability/risk involved with going to schools that only provide need based scholarships/aid? My concern is that a school could provide a competitive amount of need-based scholarships in year 1, but then reduce the amount of free money received during the remaining years, because you're already locked in.

Has anyone heard of this happening to students?

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[Dookter]

That thought crossed my mind. I am not sure if that ever happens. If you're worried, be sure to ask as many older students as possible. Also, it helps if schools use a set formula to assign aid. Make sure aid is awarded on need and not availability [i.e. if your tax info is this, you will get X amount regardless of how the school feels that year].

 

[psipsina]

The letter that awarded me a need based scholarship explicitely stated that the amount was for all four years, I would question it if the award didn't state this.