Financial aid does not transfer with the student directly. A transfer student will need to reapply for financial aid at the school to which he or she is transferring. The student will also need to add the new college on his or her FAFSA.
Each college calculates the student’s eligibility for student financial aid according to its own packaging philosophy.
Eligibility for federal student financial aid may be affected by the student’s degree level and enrollment status, as well as the amount of federal aid already used at the previous college during the current award year. For example, any previous federal student loan disbursements will be subtracted from the annual and cumulative loan limits.
Note that some of the federal student aid used at the previous college may have to be returned to the federal government, depending on whether the student withdrew before reaching 60 percent of the way through the academic term. Since the regulations for the return of Title IV federal student aid have a preference for returning loans before grants, this may affect the mix of loans and grants available to the student at the college to which he or she plans to transfer.
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