Financial Aid for transfer students?
Hello to everyone, I'm a college sophomore and planing to transfer to another college. I'm bit worried about financial situation though, at my current college I get the package which fully covers my tuition and I also get work study for personal needs, I still have to take a loan though. What do you think, anyone who have every transfered to another college have you received a better aid or at leas the same amount as you had? how realistic it is? or should i forget about it???
Please I really need your real experiences. any suggestion will be appreciated. Thanks!
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You will be eligible for the same amount of federal loans and Pell grant at every college. If you transfer mid-year, some of your awards will have been used at your first school, so you would only have the amount that remains--but that would also be true of your second semester if you stayed at your old school.
As far as work-study goes, this is a "campus based" program. Each college that participates has a given amount of funding for work-study and it is up to them to award it as they see fit. Since different colleges have different amounts to give out, and they each have their own priorities, it is impossible for us to tell if you would receive work-study funding at the new college.
Most colleges are not as generous to transfer students as they are to students who started as freshmen. They tend to use the majority of their insitutional resources to attract freshmen, and typically reduce their financial aid packages as time goes by. Some colleges also resent the idea that students who transfer in later years will get the advantage of having a degree from their institution without having supported it for 4 years. Many colleges do have some aid for transfer students, but as a rule, it's less than you would have received if you started there as a freshman.
It's not impossible that you would receive a comparable FA package at your new school, particularly if you are an outstanding student or have something the school wants (talent, athletic ability, diversity, etc.). However, it's much more likely that you would receive less if you transfer.