So you’re thinking about transferring schools and your wondering how this will impact your college financial aid? If you weren’t wondering about this, you should. Many college students who are considering transferring schools, simply assume that their college financial aid will transfer with them, this is not the case.
If you are a college student considering transferring schools, you will want to make certain to update your FAFSA. Each college and university has its own tuition costs, and just because you are awarded a certain amount for one school, does not necessarily mean you will be awarded that same amount at a different school. To avoid any hiccups in your college financial aid, you will need to update your FAFSA when transferring to a new school, and wait to receive the award letter for that particular school, just as you did with the school you are currently attending.
You will also want to check with your schools financial aid department regarding any special grants your received from your current school, sometimes these grants can have certain stipulations, and you may be required to repay these grants if you do not graduate from that specific school. If you have any questions at all, you will want to make certain to check with your schools financial aid office. Your schools financial aid office and advisors are there to help with just these types of issues.