<p>I have a few questions regarding FAFSA for undergraduate transfers.</p>
<p>I am currently at an undergraduate institution (3rd year) in my home/resident state and plan on transferring to a private university in another state. The tuition for both schools are approximately the same.
Let's say I receive about $6000 in grants from FAFSA at my current institution. Would I receive the same amount at the other institution, provided that the 2 have the same exact tuition prices?</p>
<p>Also, when filling out FAFSA, do you have to report whether you will be in school full or half time?</p>
<p>If you are talking about a Pell Grant, then you would receive the amount of the Pell you are entitled to regardless of the college you attend.</p>
<p>If you are talking about an institutional need based grant…no. Those are determined by each school.</p>
<p>One thing you do need to remember. There is a semester limit for receipt of the Pell Grant. If you are transferring after your 3rd year, it is highly likely that you will need more than one year to finish your degree. You may runout of Pell eligibility before you finish if it takes too long.</p>
<p>And the Pell is prorated. So if you go to college part time, you receive part of it, not all of it.</p>
<p>If not full time, your Pell would be prorated based on how much you are attending school. </p>
<p>Oh I see. Thanks. I just looked up the semester limit and it is 12 semesters (6 years). So as long as it doesn’t take me more than 6 years, I should receive the pell grant right?</p>
<p>Would it be best to find out the institutional need based grant by contacting the institution directly? </p>
<p>Once you submit your financial aid applications to the new college, THAT college will craft a financial aid package for you.</p>
<p>I am going to say…you are transferring as a fourth year student. I would not count on receiving a large institutional need based grant. Does this school guarantee to meet full need for all students? If not, the only guaranteed aid you will receive will be your portion of the Pell (remember…if you go part time, you on,y get part of the Pell), and your portion of the Direct Loan which would be $7500.</p>
<p>Is there a reason why you must transfer in what could be your final year? If the reason isn’t a compelling one, you might want to consider staying put for one more year…getting your bachelors, and then moving on. </p>
<p>Thumper1, Thanks for the reply. I am actually quite behind in terms of where I sit in credits. I will be a 4th year student when I transfer, but in terms of credits, I will probably only be junior status.
I would like to transfer to be with my boyfriend, which to me is a compelling enough reason, especially since it would take me another 2 years to graduate if I stay. </p>
<p>It sounds like you plan to transfer to a FAFSA only school. As a transfer student, there is no guarantee you will receive need based aid beyond the Pell, and Direct Loan. Just make sure that you do not withdraw from your current school until you are absolutely sure that you will be able to pay for a new one. You might not be able to.</p>
<p>A school that is “FAFSA only” uses only the FAFSA to determine eligibility for need based aid…and these schools usually give federally funded aid, and limited institutional aid. FAFSA only schools do not guarantee to meet your full need.</p>
<p>Some schools use the Profile or their own financial aid application form to determine a student’s eligibility for institutional need based aid. There are about 300 schools that require the Profile in addition to the FAFSA.</p>
<p>You need to do the following:</p>
<ol>
<li><p>See what the school’s policy is in terms of awarding need based aid to transfer students.</p></li>
<li><p>See what forms are required to apply for need based financial aid.</p></li>
<li><p>Know the cost of attendance, and be certain you can actually pay these costs.</p></li>
<li><p>Unless you are over age 24, your parents’ financial information will continue to be required if you are an undergrad student. Are they on board with this transfer and the potential costs they might need to help you pay?</p></li>
<li><p>There is no tuition fairy out there. Get your financial house in order before you make a decision to withdraw for your current school…which is presumably affordable.</p></li>
<li><p>Think very carefully about this transfer. It might not be financially possible. Find out.</p></li>
</ol>
<p>The tuition is $420 a credit (there are no other fees). My current institution is about 80% of that amount.
I receive about 5500/year from pell grant currently, so I except this to be in the 6000-7000 school at the school I am transferring to.</p>
<p>In terms of financial aid, the school actually offers quite a bit for transfer ($6000 a year if you have a 3.5GPA, or 3000 a year if you have above a 3.0). </p>
<p>I am not over 24. My parents do not help me with school. At my current institution, I am covered in full (tuition+housing, and a bit left over from work study). I have about $13,000 from a scholarship that I have yet to use, which I prefer to save unless there are no other options. If I transfer, I will give up a few scholarships (not this $13000 one) because they are for local schools. </p>
<p>Nope. Pell Grant does not increase. The maximum Pell is $5730, and that is with a $0 EFC…and full time status. You won’t get a $6000 Pell Grant. </p>