Was told at the financial aid office today that my EFC = 0 funds would be renewed every school year. Is this accurate? I thought your given a set amount and once it's gone, it's gone? Thanks for any advice.|||Financial aid is need based, it is based every year on your FASFA application that you fill out. One application will be good for the whole school year. Each semester you will receive a financial aid package. They should be pretty similar between semester, but year to year they can change depending on the income of you and your parents, which go together to calculate your EFC.|||They do not just automatically renew.
You have to fill out your FAFSA every year after January 1st for the next school year.
So if you fill out the FAFSA on Jan 1st 2011, you are filling it out for the 2011-2012 school year. And the funds are used for each term, and when they are gone, they are gone. Until the next year. :]
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