Students transfer colleges for many reasons. For example, they may want to transition from a two-year community college to a four-year institution; experience a change of scenery; or seek an academic concentration not offered at their current college. Regardless of the reason, students should consider finances and prepare themselves before making the big leap.
First, you should see how the net price of your current institution stacks up to that of the school to which you want to transfer. Depending on your financial situation, this may be a large factor in whether transferring makes sense for you.
You also should consider whether your credits will be transferrable to the new institution. Retaking classes or having to take a whole new set of required core courses may set you back financially and delay your graduation date.
Once you’ve done your research and decided that transferring is the right choice, take these steps to ensure you will get the most bang for your buck and can keep any current aid or scholarships you’re receiving.
— Contact the financial aid office: Get in touch with the school you’ll be transferring to and ask some key questions, like what kind of merit aid is available, and see what other financial support the college can offer or that you can apply to. You can also coordinate with the office if you will have to transfer any outside scholarships to the institution, and learn about filling out a new Free Application for Federal Student Aid, or FAFSA.
In your discussions, ask about any scholarships the school offers specifically for incoming transfer students.
For example, the University at Buffalo–SUNY offers the two-year Transfer Student Merit Scholarship to New York state transfer students who will be applying as full-time undergraduates. Those applying for transfer admission are automatically considered with no additional application required for the scholarship. However, students must be U.S. citizens, have a 3.5 GPA and have completed 45 college credits to be considered.
Similarly, the University of Maryland offers a Transfer Academic Excellence Scholarship that covers full tuition for up to four consecutive semesters. Students must be Maryland residents at the time of applying and have a GPA of 3.5; there are also specific credit-completion requirements.
Scholarships like these exist at a great number of institutions — so make sure to check.
[Find morescholarships for transfer students.]
— Contact current scholarship providers: Another important step for transfer students is to make sure that the eligibility requirements for keeping scholarships won’t be put into jeopardy by switching institutions.
Some scholarships require you to live in a certain area, attend a specific college or have a certain major, and this could cause you to lose that money if you move or change your academic concentration. If you’re able to transfer colleges without violating any eligibility requirements, talk to your scholarship provider and college financial aid office about the process to change the institution to which your funds will go.
[Learn howtransferring schools can affect student loans.]
Transfer students can also apply to more scholarships meant just for them or that transfer students are eligible for. This can be especially important for students transferring to an institution with a higher net price than the college they are already attending.
Check out awards like the Pearson Scholarship for Higher Education, which is open to Phi Theta Kappa members transferring to a four-year institution from a community college. Each year, 10 scholarships worth $5,000 each are awarded.
Another one to check out is the Jack Kent Cooke Foundation Undergraduate Transfer Scholarship. The foundation awards up to $40,000 each year to around 85 community college students seeking to transfer to a four-year institution.
Without the proper preparation, transferring colleges can end up being both difficult and expensive. Do your research ahead of time to make sure it’s the right choice for you, and set yourself up for financial success when you reach your new campus.
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Find, Keep Money for College as a Transfer Student originally appeared on usnews.com
