<p>Actually, RPI’s merit awards are renewable independently from grades, which is really nice, many schools have strings attached to the merit awards. Here is the FAQ link which states that students need only reapply for financially based loans. [Financial</a> Aid FAQs :: Rensselaer Polytechnic Institute](<a href=“http://admissions.rpi.edu/aid/faq.html]Financial”>Apply for Aid | Admissions)</p>