Every family must reapply for need-based financial aid annually, just as the student must maintain Satisfactory Academic Progress (SAP) in order to be eligible for need-based and/or merit-based aid. Aid is not automatically renewed except in the case of merit scholarships if the student has met the conditions stipulated (i.e. SAP, enrollment requirements). College of the Atlantic cannot make explicit guarantees about future need-based aid but, in general, changes in aid track changing need, changes in federal or state aid eligibility and late applications. In fact, most packages do change from year to year, in both directions, in accordance with changes in income, assets, family household size, number of children in college, etc.
Students are also generally eligible for financial aid for up to 36 attempted credits, the number needed to graduate. Any transfer credits a student applies to their College of the Atlantic transcript count towards those 36 credits. Funding for additional credits will only be considered on an individual appeal basis if the student has not successfully completed graduation requirements. If an appeal is approved, the aid may be limited to federal sources only.
College of the Atlantic expects all returning students to make a summer earnings contribution as part of their family contribution. Expected summer earnings contributions are: $1000 for first-year students, $1500 for second-year students, $1800 for third-year students, and $2100 for fourth-year students.