How do you transfer money from FAFSA from one college to another?

Question

I completed my FAFSA earlier this year and I expected to go to the same college as last year, my husband and I are now considering moving out of state and although I will still be going to school full time at a community college, it will be a different one. I already accepted the award through my previous school because I thought I would be going there but I haven't gotten any money yet. What can I do to transfer this money to the new college?

Answer 1

FAFSA is not money. FAFSA is simply a report of your finances for the purposes of calculating your eligibility for financial aid.

If you want to attend another school, have FAFSA forward your results to that school, regardless what happened at your current school.

If you were awarded at one school, that "money" does not transfer. Your eligibility does, however. Grants, for example, are awarded against the cost of tuition/fees. Scholarships are school-based and do not transfer from one institution to another. If you applied for a student loan, that all has to be updated.

Contact your current school immediately and decline the offer of financial aid. You will not be eligible for aid at another school until you do and that information gets into the system to free up the money so you can use it elsewhere.

Be prepared to pay out-of-state tuition, which will be considerably more when you move.

Answer 2

Cancel all aid offered from the school you are leaving.  Go online to the FAFSA and add the school code for the college you will be attending.  Once they receive your FAFSA they will begin your process; however, you should expect some delays since it is a lengthy process and you are about a month away from school starting.

Answer 3

Considering the FAFSA is a federal thing. You should be able to go to the new college and tell them you have already completed one. There will probably be more paper work, but you should still be entiltled to the financial aid.

Answer 4

Go to http://www.fafsa.ed.gov/ and under where it says "Step 3" click on "Add or Delete a school code"

Then you simply add your new school to your list.. This will send your new school your fafsa info.  Contact them immediately and tell them you are started school in the fall.  They will mail you (or direct you to a sight to download) yet MORE forms for you to fill out.  It is important you do all this quickly as you are getting a late start.

Be aware out-of-state tuition will kill you, and your federal financial will not be more because you chose this more expensive option.

Good LUCK!!!