Final answer:
To maintain financial aid, one must make satisfactory academic progress and complete the FAFSA form annually; repaying grants is not typically required.
Step-by-step explanation:
You generally don't need to repay grants to maintain your financial aid. To preserve eligibility for financial aid, including federal grants, work-study, and loans, it's crucial to fulfill certain requirements. One key requirement is making satisfactory academic progress.
Additionally, students must fill out the FAFSA® form each year to apply for federal aid, as colleges and some states use FAFSA data to determine eligibility and award their aid. After completing the FAFSA, you'll receive a Student Aid Report which helps you understand your aid offers from different colleges. Remember, receiving grants is different from taking out student loans, which usually need to be repaid with interest over time. It's important to periodically review and understand your aid offer to ensure that you accept the aid that aligns with your financial needs and academic goals.