How Being a Transfer Student Impacts Scholarships and Financial Aid

When transferring schools, your financial aid package will be recalculated based on your new school’s tuition, policies, and available funding. The overall cost of attendance at your new school plays a role in determining how much federal financial aid you receive. If your new school has lower tuition costs, your total award may be reduced. Your eligibility will also reflect what you’ve already used, as well as annual caps.

While institutional scholarships from your previous school typically won’t transfer, you will have the opportunity to explore new grants and scholarships for transfer students offered by your new school. As you plan your transfer, understanding why your financial aid situation might change and how these factors work together can help you align your new funding with your current circumstances and educational goals.

As a transfer student, you’ll need to update your financial aid information to reflect your new school and degree program. This typically requires resubmitting your Free Application for Federal Student Aid (FAFSA®) to ensure your new college can review your eligibility and offer you a financial aid package.

You can easily add or update your school information by visiting the FAFSA® website. Keeping your FAFSA® up to date helps ensure you’re considered for federal grants, loans, and other types of financial aid for transfer students that may be available to you.

Some colleges may also have their own financial aid application or additional steps to complete. Taking time to review each school’s requirements can help you maximize your funding opportunities and position you to receive the financial support you need for your next chapter.

Transferring colleges can open the door to new scholarship opportunities. Many schools offer institutional scholarships and grants specifically for transfer students based on factors like your previous coursework, GPA, or degree program.

At DeVry, our Future-Ready Transfer Scholarship¹ is designed to help you build on the progress you’ve already made in your education. Based on qualifying transfer credits, eligible students can receive up to $7,168 in scholarship savings,² helping make it more manageable to complete your degree.

Scholarships aren't the only way to pay for your education when you transfer. Many schools offer tuition discounts and cost-saving opportunities that are different from your previous college.

Tips for comparing potential savings across schools as a transfer student:

Choosing a transfer-friendly school can help you make the most of the credits you’ve already earned and potentially save both time and money. Many colleges accept a significant number of transfer credits through articulation agreements with other schools, allowing you to keep moving forward and closer to earning your degree.

Some things to look for when comparing transfer schools:

Transferring colleges comes with new opportunities to maximize financial aid and scholarships, so planning ahead is key. Start by researching all available financial aid options early so you have plenty of time to apply for scholarships, tuition discounts, and state funding.

Be proactive with your FAFSA® submissions and any school-specific financial aid applications to ensure you're considered by the deadline.

Finally, be sure to talk to the financial aid advisors at both your current and transfer schools. They can help you understand how your transfer credits, scholarships, and other financial aid can impact your tuition costs once you are enrolled and guide you toward the best options.

By researching and planning ahead, you can make the most of your financial aid and scholarship options and take the next steps toward completing your degree.