Do I have to apply for financial aid each year?

Most private schools require families to reapply for financial aid each year. Changes in income, expenses, the number of children enrolled in private schools, etc., can impact a family’s eligibility for financial aid. Schools also reset their financial aid budgets and award aid to a new group of students each year.

Reapplication typically isn’t cause for concern. Private schools are committed to providing a consistent educational experience, so unless your family has had a significant financial change, the aid package awarded will likely be similar each year.