For many high school seniors, the financial aid offer is the key to college affordability. But higher education is usually a 4-year affair (at least), and before committing to a school, it’s important to understand how much of the financial aid you were offered will carry forward from year to year. In many cases, your financial aid offer will remain roughly the same, but there are several factors at play. We review them below.

Grades & Credits

All financial aid requires that you continue to show progression toward graduation throughout your college career, which means you need to maintain a certain GPA and number of credits per semester, something called Satisfactory Academic Progress (SAP). Failing to meet SAP could jeopardize the financial aid you received. In many cases, students must maintain at least a 2.0 GPA and 12-16 credits to remain eligible for financial aid, but check with the financial aid office for each school’s specific requirements. And keep in mind that merit-based aid usually has different criteria (see below).

Merit Scholarships

If any of the financial aid you received is merit-based, it likely has specific requirements for renewal. Renewal of merit aid often requires a minimum GPA of anywhere from 2.5 to 3.5, and may have other requirements, such as remaining in a certain major or completing hours of service, research, or additional coursework. Read all of the information that accompanied your financial aid offer to find out which portion of your financial aid is considered merit-based and the conditions you must meet to maintain those scholarships.

Your Finances

Most of the financial aid you receive will likely be need-based (given to you based on your family’s finances), and, in general, colleges will do their best to keep your financial aid the same from year to year as long as your financial situation doesn’t change. If your family’s income or assets significantly increase (more than 5% each year), or your family’s makeup changes, your financial aid may be affected.

Rising College Costs

Though your financial aid may stay consistent each year, keep in mind that college costs usually rise. That means the balance of what you need to pay will also likely increase. It’s helpful to ask the school how much the rates of tuition, fees, housing, and meal plans go up on average each year, so that you can prepare to absorb those additional costs.

Call the College

Ultimately, the best way to find out how your financial aid offer might change from year to year is to reach out to the college. The financial aid office can speak to their specific policies, and let you know of anything else you should be aware of as you review your offer and create your payment strategy for the next four years. College is a significant cost, so you’ll want to make sure you have all the information available as you make your decision on where to attend. And though college policies and your own finances can always change in the future, make the best decision for your family with the information you have now. You can adjust your situation down the road if anything significantly changes.