What Happens to Your FAFSA If You Transfer Schools?
If you’re considering transferring from one college to another, one important thing to keep in mind is your financial aid. The good news is that you don’t need to submit an entirely new FAFSA application when you transfer schools. However, there are some steps you need to take to ensure that your financial aid continues to follow you to your new school. Understanding what happens to your FAFSA during a transfer can help you avoid any disruptions in your financial aid package and ensure that your financial needs are met at your new school.
Here’s a breakdown of what happens to your FAFSA when you transfer schools and the steps you should take to maintain your financial aid eligibility.
1. Your FAFSA Does Not Automatically Transfer
When you transfer schools, your FAFSA doesn’t automatically transfer to your new institution. Each school you list on your FAFSA will receive your financial aid information, but once you change schools, you need to update your FAFSA to reflect the new institution you plan to attend.
To ensure your new school receives your financial aid information, you’ll need to update your FAFSA by adding your new school’s information. This ensures that your new school can review your financial aid application and offer you an appropriate aid package.
2. Add Your New School to Your FAFSA
To transfer your FAFSA to your new school, follow these steps:
- Log in to your FAFSA account: Go to the FAFSA website and log in using your FSA ID (Federal Student Aid ID). If you don’t have an FSA ID, you’ll need to create one.
- Select the FAFSA to Update: Once logged in, you’ll see a list of your submitted FAFSAs. Choose the FAFSA that you used to apply for aid at your previous school.
- Navigate to the School Section: In the FAFSA application, there is a section labeled “School Selection” where you can list the schools you are interested in attending. You can add your new school by searching for the school’s name or entering its Federal School Code.
- Remove the Old School (If Needed): If you no longer plan to attend your previous school, you can remove it from your list of schools on your FAFSA. If you plan to attend both schools, you can keep both schools listed.
- Submit the FAFSA Update: After making the necessary changes, review your FAFSA to ensure everything is correct and submit the update.
3. Review Your New School’s Financial Aid Offer
Once you’ve added your new school to your FAFSA, the school will receive your financial aid information. Your new school will review your FAFSA and provide you with a financial aid package, which may include grants, loans, and work-study opportunities.
Keep in mind that your financial aid package may change when you transfer schools. Different schools may offer different amounts of financial aid based on their own budgets, policies, and available resources. Additionally, the cost of attendance (tuition, fees, room, and board) may be higher or lower at your new school, which could affect the amount of aid you receive.
4. Be Aware of Deadlines
One of the most important things to consider when transferring schools is the deadlines for both FAFSA submission and your new school’s financial aid process. Deadlines can vary, and missing them can result in delays or missed financial aid.
- FAFSA Deadlines: The federal FAFSA deadline is typically June 30 of each year, but your new school may have its own financial aid deadline that you need to meet. Be sure to check your new school’s financial aid office for specific deadlines.
- School-Specific Deadlines: In addition to the FAFSA, your new school may require additional forms or documents for financial aid. These might include institutional aid applications, scholarship forms, or other paperwork. Check with your new school’s financial aid office to ensure that you have all the required documents submitted on time.
5. Be Aware of Changes in Your Aid Eligibility
When you transfer, your eligibility for certain types of financial aid may change. Here are a few things to consider:
- Pell Grant Eligibility: If you were receiving a Federal Pell Grant at your previous school, your new school will determine your continued eligibility based on your enrollment status (full-time, part-time) and your new cost of attendance. If you transfer to a more expensive school, your Pell Grant eligibility may increase, while transferring to a less expensive school may reduce the amount of aid you are eligible for.
- State and Institutional Aid: Some state grants or institutional scholarships are specific to the school you attend, and these types of aid may not transfer with you. If you received state aid or scholarships from your previous school, you may need to apply for new state aid at your new school or look for new institutional scholarships.
- Loan Limits: If you’ve already reached the maximum amount you can borrow in federal loans at your current school, transferring to a new school may affect your loan eligibility. You may need to reapply for loans or adjust your loan amounts based on the new school’s cost of attendance.
- Eligibility for Work-Study: Federal Work-Study funding is awarded on a school-by-school basis, and you will need to reapply for work-study at your new school. If your new school offers work-study, you may need to search for a new job on campus or apply for remote work-study positions.
6. Track Your Financial Aid Status
After submitting your FAFSA update and ensuring that your new school has received your financial aid information, it’s important to track the status of your financial aid. Each school has its own process for reviewing financial aid applications and issuing financial aid offers.
Check your new school’s financial aid portal regularly to confirm that your application has been processed and that your aid package is ready. If there are any issues or additional documents needed, be proactive in addressing them as quickly as possible.
7. Consider Financial Aid Adjustments After Transfer
Transferring schools might not only change your financial aid eligibility but also your overall budget and financial planning. Depending on the cost of attendance at your new school, your aid package may need to be adjusted to meet your needs. If you find that your financial aid is not sufficient to cover the full cost of attendance, consider looking into:
- Additional Scholarships: Many schools offer specific scholarships for transfer students. Be sure to research and apply for any transfer-specific scholarships your new school may offer.
- Private Loans: If federal loans and grants don’t cover all your expenses, you may need to consider private loans. These loans often require a credit check and may come with higher interest rates than federal loans.
- Budgeting: After transferring, review your budget to ensure that you can cover all your educational expenses, including tuition, fees, textbooks, and living costs. Planning ahead can help reduce stress and avoid financial surprises.
Conclusion
When you transfer schools, your FAFSA doesn’t automatically transfer, but updating your FAFSA to reflect your new school is a simple process. By adding your new school to your FAFSA and reviewing your financial aid package, you can ensure that your financial needs are met as you transition to your new school. Remember to keep track of deadlines, review any changes to your aid eligibility, and stay in touch with your school’s financial aid office to make your transfer process as smooth as possible. With the right preparation, you can continue to receive the financial support you need to succeed in your new academic environment.
