New to Financial aid - quick question

[calendula]

Hello all,

I am starting a grad program in Jan 2011.
I am going part time and only want to take 1 class for the 1st semester. I know that makes me ineligible for financial aid. I have been offered a subd Stafford.

My question is, if I decline the aid this time (my 1st application) does it have a negative impact when I apply for the next year? I mean, will they say to themselves - well, she turned it down last time so we'll offer her less this time? Or anything like that.

I have searched and searched for an answer on this. It seems like in theory each application is on its own merits but i just wondered if the reality was in any way different.

TIA!

[la mamita]

No, government loans are offered anytime as long as you are eligible. Turning it down one year doesn't affect eligibility for other years.

[SummerLove]

Not at all. In fact, if you do want to accept some FA, but don't want all of it, you can also specify how much you need, and only get that amount. But, declining now will not affect your aid next year.

[lunarlady]

Don't worry! You can decline now, but change your mind at any point and still be approved and awarded aid. Good for you for making it work, at least for now, without the loan. Looking back I wish we had lived leanly and borrowed less.