Can deferment mean loss of financial aid?

[urbanleopold]

Hello all...I'm applying to a couple schools this winter, but it's quite possible that I might see where I get in, and then defer a year.

I think my biggest concern about this is that I will be offered a nice financial aid package to start in Fall 2008, and if I defer, maybe I will find that there are less funds for me next year?

Has anyone experienced anything like this? I know that financial aid is dependent on availability, and if more students will need are going to start classes in 2009, obviously you'd expect there might be less funds, but does anyone have any idea of one might lose priority in any way for financial aid if they defer?

[Tresmo]

Hello all...I'm applying to a couple schools this winter, but it's quite possible that I might see where I get in, and then defer a year.

I think my biggest concern about this is that I will be offered a nice financial aid package to start in Fall 2008, and if I defer, maybe I will find that there are less funds for me next year?

Has anyone experienced anything like this? I know that financial aid is dependent on availability, and if more students will need are going to start classes in 2009, obviously you'd expect there might be less funds, but does anyone have any idea of one might lose priority in any way for financial aid if they defer?

It probably varies by school, but I would guess that most schools would not guarantee this year's aid package for next year. That doesn't mean you wouldn't get aid, but that you'd have to wait and see what they come up with next time around. I don't think you'd lose priority or that they would penalize you for it. If you've deferred, presumably you're at the top of the list timeline-wise for the 2009 class, so you wouldn't be late.

I would ask the department about their policies and how consistently they have aid for students, how it is distributed.

[Northsider]

No, you have to apply for aid every year. You fill out a FAFSA form for each school year. I am pretty sure your awarded aid for this year will not apply for next year. That doesn't meant you won't get a similar package when you reapply.

[kjel]

It can because it depends on the level of funding available for each academic year and as Tresmo pointed out you generally have to apply for renewal each year. If it is a consideration for you, talk to the person in charge of enrollment/aid and see if you can't work something out.