Transfer Students and Student Loans

When applying for a student loan as a transfer student, it is important to keep in mind that if you received a student loan at a prior school, you will not automatically receive a student loan at your new school.

If you completed the FAFSA during the current academic year and you decide to transfer, your new school may require you to provide a copy of your Student Aid Report (SAR).

As a transfer student, you must follow the proper procedure even if:

• You did not complete your program of study at your previous school,
• You did not receive financial aid at your previous school, or
• Your previous coursework will not count toward your new degree program.

When you transfer, remember to do the following:

At your old school: Cancel any outstanding loan disbursements when you withdraw.

At your new school: Inform them about the school you previously attended and use the same servicer for any new student loans to ensure the smoothest possible repayment experience. If you have loans with different servicers, you will need to make separate payments each month. If you are uncertain which lender codes are serviced by which servicers, visit the MDHE’s online lender list.