Janice Lozano
Transferring universities can be a complicated process, and it's important to consider the financial implications. Transfer students are those with prior college experience who plan to finish their degree at a different institution. Transferring colleges can be for a variety of reasons, including cost, family obligations, or a desire to find a better fit. While it may initially seem challenging to pay for college as a transfer student, there are plenty of options available. This includes financial aid, scholarships, and student loans.
| Characteristics | Values |
|---|---|
| Application fee | Non-refundable application fee of $75 |
| Deadlines | Deadlines vary across universities. Some, like Harvard, only accept transfer applications in the spring. |
| Transcripts | Official transcripts from all colleges attended |
| Resume | Include your academic, extracurricular, community and work activities, honors and awards |
| Letters of recommendation | Submit up to two letters of recommendation |
| Additional materials | Letters of recommendation, resume, and other materials to strengthen your application |
| GPA | GPA is calculated for all transferable college-level courses from all schools attended |
| Credits | Credits from your current school may be transferred to your future school |
| Financial aid | Speak with a financial aid administrator at the school to understand your options |
| Scholarships | Apply early for priority consideration for merit-based scholarships |
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What You'll Learn
Transfer student scholarships
Transferring to a new school can be a challenging process, especially when it comes to financial aid. While financial aid does not automatically transfer with you, there are many scholarships available for transfer students that can help you secure the necessary funding for your education. Here are some tips and resources to help you navigate the process and find transfer student scholarships:
Understanding Financial Aid for Transfer Students:
- Ensure that your new school has a copy of your FAFSA (Free Application for Federal Student Aid) results. The FAFSA is crucial for determining your eligibility for financial aid, including federal, state, and internal awards.
- Be aware that transferring to a private university may result in reduced state award eligibility. Review the requirements of your current scholarships and grants to understand if they can still be applied at your new school.
- Contact the scholarship coordinators or financial aid offices at both your current and prospective schools to discuss your options and determine if your awards can be transferred or replaced.
Scholarships for Transfer Students:
- The Cooke Undergraduate Transfer Scholarship: Offered by the Jack Kent Cooke Foundation, this highly selective scholarship is for community college students transferring to four-year institutions to complete their bachelor's degrees. It provides financial support, college planning, advising, and a supportive community.
- Phi Theta Kappa Scholarships: Phi Theta Kappa offers competitive scholarships that recognize academic excellence and leadership among community college students transferring to four-year colleges. These scholarships provide significant financial support and help ease the financial burden of college.
- First Generation Scholarship: This scholarship is awarded to undergraduate residents and non-residents whose parents or legal guardians do not have a bachelor's degree. Recipients participate in the First Generation Scholars Program during their first year.
- State-Specific Scholarships: Many states and universities offer scholarships specifically for transfer students. For example, North Carolina A&T State University offers scholarships based on criteria such as major, academic achievement, community service, leadership, and financial need.
- Subject-Specific Scholarships: Depending on your field of study, you may be eligible for subject-specific scholarships. For instance, STEM scholarships are available from organizations like the SBB Research Group, Souder Miller & Associates (for Native American students), and the Alaska Space Grant Program. If you are an undocumented student, the Golden Door Scholarship offers full-ride scholarships.
Remember to carefully review the eligibility criteria and application processes for each scholarship opportunity. By combining scholarships with other financial aid options, you can help ensure that your education is adequately funded, even as you navigate the challenges of transferring to a new school.
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Federal student aid programs
As a transfer student, you may be eligible for federal student aid programs, which can include grants, loans, and work-study funds. The first step to accessing federal student aid is to fill out the Free Application for Federal Student Aid (FAFSA). The FAFSA will determine your eligibility not just for federal aid but also for state and school financial aid. Deadlines for FAFSA applications vary depending on the university and the semester for which you are applying. For instance, NYU has a deadline of March 22 for Fall/Summer applicants and October 22 for Spring applicants.
Some schools may also require you to complete the CSS Profile, a financial aid application used by over 400 colleges, universities, and private scholarship programs to award non-federal aid. The CSS Profile costs money to file, so be sure to check if it is required by your desired college or university. Transfer students may qualify for a fee waiver for the CSS Profile based on financial need.
If you are receiving federal student loans at your current school, you will need to go through exit counseling to learn how your loans will be affected when you transfer. During exit counseling, you will discuss important concepts like repayment and deferment.
In addition to federal aid, you may also want to explore other financial aid opportunities. Some schools offer transfer scholarships, particularly for community college students. There are also scholarship programs from private organizations for community college graduates transferring to four-year schools, such as those offered by Pearson, the Jack Kent Cooke Foundation, and Phi Theta Kappa.
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Student loans
Resubmitting Your FAFSA
If you're transferring schools, you'll need to resubmit your Free Application for Federal Student Aid (FAFSA). This is a crucial step, as it will determine your eligibility for federal financial aid, including student loans, scholarships, grants, and work-study programs. If you're transferring mid-year, you can access the FAFSA already on file and simply update it with your new school choice. Your financial aid package may change due to variations in school costs and available aid programs at your new institution.
Understanding Aid Differences
Your new school may offer a different amount of financial aid compared to your previous institution. This could be due to differences in tuition fees, the availability of specific aid programs, or changes in your eligibility. It's important to understand that you won't necessarily receive the same amount of aid at your new school, and there may be additional costs or savings associated with the transfer.
Managing Existing Loans
When transferring schools, you are still responsible for any student loans you borrowed from your previous institution. Notify your lenders about your transfer to avoid repayment issues. If you're transferring mid-year, inform your lenders to cancel any pending funds intended for your previous school. You may be able to defer your loan payments while enrolled at your new school, but staying on top of your loan status is essential.
In-School Deferment and Repayment Plans
Depending on your loan type and eligibility, you may be able to take advantage of in-school deferment, which temporarily pauses loan payments. However, interest may still accrue during this period, especially with unsubsided loans. Alternatively, you can explore income-driven repayment (IDR) plans, which spread payments over a longer period, reducing the immediate financial burden.
Refinancing Options
If you're concerned about managing your existing student loans, refinancing may be an option. Refinancing involves taking out a new loan with more favorable terms to repay your existing debt. This can be especially beneficial if you have private student loans and can qualify for a lower interest rate.
Navigating student loans as a transfer student can be complex, but understanding your options and staying proactive in managing your financial aid will help ensure a smoother transition to your new school. Remember to seek guidance from financial aid offices and advisors whenever needed.
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Work-study jobs
To find work-study positions, start by visiting your on-campus career centre, which will likely have a comprehensive list of campus employers and job openings. Many universities now also list job openings online, either on their own websites or on online job boards like Indeed or ZipRecruiter. You can also reach out to professors you know and ask them to notify you of any departmental work-study positions that become available. Networking with peers is another effective way to learn about work-study positions and even get an introduction to the hiring manager.
Tutoring is a popular work-study job that can be done on- or off-campus. Universities often provide discounted tutoring services to students, and you can also find tutoring opportunities with local families or schools. Working in the library is another common work-study job, where you'll handle tasks like organising books, maintaining the database, and helping visitors find relevant materials. If you're interested in fitness or physical therapy, check out job offerings at your school's fitness centre, which could range from administrative roles to hands-on positions like personal trainer. You could also work as a campus tour guide, showing prospective students around the university.
Remember that work-study jobs are just one way to pay for university as a transfer student, and you may also want to explore options like financial aid, scholarships, and student loans.
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Merit-based scholarships
Transferring to a new college or university can be a tricky process, especially when it comes to financing your education. Merit-based scholarships are a great way to help fund your studies and are awarded based on academic achievements, with some scholarships even covering the full cost of tuition.
Augustana College, Rock Island, Illinois
Augustana College offers merit-based transfer scholarships ranging from $13,000 to $20,000. To be eligible, students must have a minimum GPA of 2.7 and 15 transferable credits. The scholarship is renewable throughout the recipient's time at Augustana.
Bridgewater College, Bridgewater, Virginia
With a minimum GPA of 3.0 and 12 transferable credits, students transferring to Bridgewater College are eligible for scholarships of $2,500 for residents and $1,500 for commuters. Additionally, members of the Church of the Brethren can apply for the Church of the Brethren Scholarship, which offers up to $2,500 per year.
Florida International University
Florida International University offers the Transfer Academic Achievement Scholarship, which covers 50% of tuition and fees. This highly competitive award requires a minimum of 60 transferable credit hours or an Associate's degree, a 4.0 GPA, two letters of recommendation, and an essay.
Loyola University
Transfer students applying to Loyola University are automatically considered for up to $19,000 in Transfer Merit Scholarships upon submitting their admissions application.
Mississippi State University
With at least 48 transferable credits and a GPA of 3.5 or higher, transfer students are eligible for scholarships at Mississippi State University.
University of Tampa
The University of Tampa offers scholarships for transfer students with GPAs of 3.0 or higher.
Regis University
Regis University offers merit scholarships to students from all backgrounds. The designation of the scholarship is determined at the time of admission and remains in effect for up to four years of undergraduate study.
Lenoir-Rhyne University
Lenoir-Rhyne University offers academic, merit, talent, need-based, and other scholarships to enrolled students. Scholarships of $1,000 per semester (up to two semesters per year) are available to assist with tuition, fees, room and board, and educational materials.
University of Houston
As a public university, the University of Houston offers more affordable tuition rates compared to private universities. Transfer students can use the Transfer Credit Estimator to determine how many course credits may transfer to their chosen degree program. However, transfer students are not eligible for fee waivers and must pay a $75 application fee ($90 for international students).
General Tips
When transferring to a new college or university, it is important to notify your current school and discuss your financial options with the financial aid office at your new institution. Additionally, if you have taken out student loans, remember to contact your loan provider to transfer them to your new school.
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Frequently asked questions
The first step is to check whether your existing financial aid or loans can be transferred to your new institution. You can do this by contacting your loan provider and the financial aid office at your new university. If you are an international student, you may be eligible for a transfer student scholarship.
There are a variety of scholarships available for transfer students, including financial need-based, merit-based, and full-tuition scholarships. Mississippi State University, for example, offers qualifying in-state transfer students scholarships of up to $6,000, while qualifying nonresidents can receive up to $18,000.
It is important to note that transferring universities may affect your financial situation. For example, if your current university is offering you a large amount of financial aid, you should check whether your new university can offer similar support.
