You have the option to allow people to make changes to their applications and participant profiles from Settings > General > Application process.
Allow re-submission of submitted applications - allows people who have submitted their applications to make changes to them.
Allow re-submission of approved applications
Allow re-submission of rejected applications
Require admin approval at re-submission
Keep in mind that when changes are made to an application, its status goes back to Draft. Submitting the application changes its status to submitted so you might need to approved and shortlist it again.