Ever since your earliest years in grade school, you’ve been taught that your number one concern in school is achieving high grades. Students everywhere work their hardest to get top marks from preschool to college, and it is in college that the concern for good grades takes on more significant importance. When a slipping GPA could cause you to lose your financial aid, there is no room for error. Education is expensive, and many students wouldn’t be able to go on without aid. But how can a low GPA truly affect your financial aid?
In general, there are two kinds of financial aid. Some kinds of financial aid are need based, while others are merit based. Certain special cases may combine these two types of aid into a scholarship, but in general they are kept separate. Need based aid includes the federal government aid for which students apply every year through FAFSA. These funds are allocated to students based on their financial situations. Merit based aid is typically offered by schools and other non-government institutions to help exceptionally talented students finance their education.
If your GPA begins to slip, merit based financial aid is typically the first thing that will go. Students who are given scholarships based on academic performance need to keep that performance high in order to keep receiving funds from scholarship providers. If your grades start to slip, you can expect your merit based financial aid to be revoked. Academic scholarships are given to top performers, and yours will go to another hard-working student if you begin to neglect your studies.