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An explanation of how to remain eligible for financial aid

To remain eligible for financial aid, you must meet certain requirements and follow specific guidelines set by the federal government and your school. Here are some important steps to ensure you remain eligible for financial aid: 1. Maintain Satisfactory Academic Progress (SAP): One of the most important requirements to remain eligible for financial aid is to maintain satisfactory academic progress (SAP). This means you must meet minimum GPA requirements and complete a certain number of credits each semester. If your grades fall below the required GPA or you do not complete enough credits, you could lose your financial aid eligibility. 2. Meet Financial Need: Many forms of financial aid, such as grants and need-based scholarships, require the applicant to demonstrate financial need. This is determined by the information provided on the Free Application for Federal Student Aid (FAFSA). To remain eligible, you must continue to demonstrate financial need each year by submitting a new FAFSA. 3. Attend an Eligible School: In order to receive federal financial aid, you must attend a school that is accredited by the Department of Education. Your school's financial aid office can provide you with information on its accreditation status. 4. Complete Verification, If Required: Some students may be selected for verification, which is a process to confirm the accuracy of the information provided on the FAFSA. If you are selected, you must complete the verification process in order to remain eligible for financial aid. 5. Avoid Defaulting on Loans: If you have taken out federal student loans, it is important to make your payments on time to avoid defaulting on your loans. Defaulting on loans can negatively impact your credit score and also lead to the loss of financial aid eligibility. 6. Notify Your School of Any Changes: If there are any changes to your financial or personal situation, such as a change in household income, you must notify your school's financial aid office. This could impact your financial aid eligibility and it is important to keep your school updated. 7. Meet Deadlines: It is important to meet all required deadlines for financial aid documents and applications. This includes submitting your FAFSA by the deadline and submitting any requested documents to your school on time. Missing deadlines could result in the loss of financial aid eligibility. 8. Maintain Enrollment Status: In order to receive financial aid, you must be enrolled in school at least part-time. Dropping below part-time status could result in the loss of financial aid eligibility. It is important to continually check with your school's financial aid office to ensure you are meeting all eligibility requirements and to stay up-to-date on any changes or updates. By following these steps, you can maintain your eligibility for financial aid and continue to receive the support you need to finance your education.