How does transferring financial aid to another college work?

I'm planning to transfer colleges soon, and I have financial aid at my current school. How do I go about transferring my financial aid package to the new college? Are there specific steps to follow?

When you are transferring from one institution to another, your financial aid does not automatically transfer with you. You need to apply for it again, similar to how you did for your current school.

Here are specific steps that you should follow:

1. Update FAFSA: You must contact the Federal Student Aid department or log into the FAFSA website and edit your Free Application for Federal Student Aid (FAFSA) to include the school code of the new institution. This way, the new school will get your information from the Federal Student Aid database.

2. Apply for Financial Aid at Your New School: Every school has a different process for financial aid applications. Therefore, once you've decided which school you're going to, contact the financial aid office at your new school for any additional financial aid forms they require.

3. Review Your Aid Package: Once your financial aid gets approved, review it thoroughly. Keep in mind, it might be different from what you received at your previous school. The financial aid package may vary due to factors such as tuition differences, availability of funds, state residency, etc.

4. Accept/Decline the Aid: After reviewing the financial aid package offered by the new school, you can either accept or decline it. Once you accept, your financial aid will be applied to your new school's tuition bill.

Remember, always communicate with your new school's financial aid office to stay informed about their deadlines, the documents needed, and any other unique requirements. The clearer you are about your situation, the better they'll be able to guide you.