Re-applying

Securing funding is the first step of your financial aid process. Receiving financial aid helps you invest more time in your online educational program, but many financial aid programs require separate applications.

Though some awards are automatically renewed, it is critical to reapply to maintain your grants, scholarships, work-study, and loans. It may be challenging at first to map out your financial future, but there are a few easy things you can do throughout your academic program in order to keep your aid.

Reapply Every Year
Typically, you should be prepared to reapply for financial aid each year. Your financial aid package could depend on a number of factors: 

• Your student status
• Your financial need
• Your Expected Family Contribution (EFC)
• The availability of other types of aid

The income and asset information you submit on your Free Application for Federal Student Aid (FAFSA) can greatly affect the amount of aid you're offered from year to year.

Keep Your Grades Up
Some merit-based scholarships may require you to keep a minimum grade point average (GPA), but grants and loans also can have requirements for making satisfactory progress at school. Your educational program can also require you to complete a designated number of credits per term in order to continue receiving funding. 

Complete a Renewal FAFSA
You may have already completed a Free Application for Federal Student Aid (FAFSA) online, but you should know that this important document needs to be updated every year you plan to receive financial aid. The FAFSA renewal form is considerably shorter than the first-time application, but you still need tax and asset information from the previous year. You can complete the renewal FAFSA online, from the same Web site as the original FAFSA. The deadline for the FAFSA renewal generally falls in mid-March, and if you don't receive a reminder via email or postal mail, you're still expected to complete this important form.

Stay In Touch
In addition to maintaining your student enrollment status and renewing your FAFSA every year, be sure to keep in touch with your school's financial aid office throughout the school term. Your financial needs and eligibility for aid may change as you complete your bachelor's degree, and new aid opportunities may arise in the middle of the term. Your school's financial aid office can provide you with detailed information about new financial aid programs as well as important application deadlines on the aid you already have.

By keeping track of important financial aid requirements and deadlines, you are more likely to maintain your funding eligibility for the duration of your educational program.