Is it possible to transfer undergrad schools after just one semester?

Here’s the deal: I applied early decision to my dream college, said I was going to attend there in the fall, paid the tuition deposit, and now my parents and I are finding out they are giving us zero financial aid. So, attending this school for all four years is absolutely not an option, and attending for a whole year is a stretch considering I’d have to take out at least a $50k loan. Yes, I know this whole decision was a bad move and I do regret it but right now I gotta think about my future game plan. Since it’s basically too late to apply anywhere now, and I did apply early decision, I was wondering if it was possible to transfer after only attending there for one semester. What types of documents do colleges usually require for transfer student applications and would these be accessible after only having attended the other college for one semester?

Thank you for any help!

I would not go to the expensive school with the intent of leaving after one semester. Others will have more specific advice, especially about how there might be less chance of merit aid at your new school if you are a transfer student.

Rather confusing, for ED you usually get your financial aid packet 1-2 weeks the latest. If you couldnt meet then you could’ve notified the college and applied to different places for RD

ED schools usually give you an out if they are unable to meet your financial need. I agree why did you not get your FA package earlier so you had the chance to decline and apply to some other schools?

If you can’t afford your ED school, then cancel your enrollment there. Let them know that your plans have changed, and that you won’t be attending. It is likely that you will lose your deposit, but that isn’t a big deal in the long run.

Many places are still accepting applications. However, if none of the places you are interested in are still doing that, you can take a gap semester or gap year and work on a new list. That will make it much more likely that you can come up with affordable options.