Your financial aid eligibility is determined by subtracting your ability to pay for your educational expenses for the year (your EFC on your FAFSA) from your cost of attendance (including tuition, fees, room, board, books, transportation, and personal expenses).
Cost of Attendance - EFC = Financial Need
Your financial aid package is the summary of your financial aid awards.
For undergraduate students, yes, your aid is likely to change from year to year. As your information changes each year, your expected family contribution (EFC) may change. For graduate students, no, you aid is not likely to change each year unless legislation is passed that changes the federal loan programs. Both undergraduate and graduate students need to reapply for financial aid each year with the latest FAFSA. 
No, you do not have to be full-time to receive aid but some awards do have a minimum course load requirement. For example, the Federal Direct Loan program requires that students be enrolled half time (5 credit hours) to qualify for aid.  Since all of the classes at Gratz are 3 credit hours, students must be enrolled in two courses in any given semester (Fall, Spring, Summer) that they are applying for federal student aid.
If you have special circumstances that are not addressed on the FAFSA (for example, lost or reduced salaries, unemployment, unusually high medical or dental expenses, death of a family member), please contact our office to request a Special Circumstances Form. We will review the change(s) in your circumstance and if funds are available, send a revised award letter.
The current interest rates for federal loans processes after July 1, 2019 for the 2019-2020 year are as follows:
Loan type Interest Rate
Direct Subsidized Loans (Undergraduate) 4.53%
Direct Unsubsidized Loans (Undergraduate) 4.53%
Direct Unsubsidized Loans (Graduate or Professional Students) 6.08%
Direct PLUS Loans (Parents and Graduate or Professional Students) 7.08%

More information about loan rates and fees can be found here.

Our Title IV School Code: 004058
Fill out the FAFSA form online: www.fafsa.ed.gov
Deadline: Priority FAFSA deadline is March 1

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