If you're like most undergraduate students, you've received financial aid to help you pay for college. This might include grants, scholarships, loans, or any combination of these. Each type of aid may have different requirements for keeping and renewing aid.

Loans
Unsubsidized loans (including private loans and some Stafford Loans) accrue interest shortly after you receive the money. While it may be possible to defer repayment of these loans until after you graduate, you should contact the lender to explore all of your options. If the lender assumes you're going to start making payments, but you do not, it may affect your current loan or future opportunities to borrow.

If you drop below half time, you may have to start repayment on some loans, including the Stafford Loan.

Grants
The Pell Grant is the largest grant program available to students with need. If you drop below full time, your Pell award may be reduced. If you drop to part time after the semester begins, you may be required to repay the amount you received as a full-time student. Because Pell Grants are strictly need-based, if your income increases from one year to the next, your Pell Grant can also change. Other factors that might affect your Pell Grant eligibility include defaulting on certain loans and conviction for certain crimes.

Other grants can also have specific eligibility requirements, including GPA and enrollment requirements. If you receive grants to help pay for college, check with program administrators for eligibility requirements.

Scholarships
Scholarships can also have specific requirements for continuing to receive them. If it is an academic scholarship, you may need to maintain a minimum GPA; if it's a sports scholarship, it may depend on your participation in a sport; some scholarships depend on remaining in a specific major.

Keep Informed
Staying informed about requirements regarding your financial aid awards will help you keep the aid through graduation.