Transfer Students: Loan Process

Learn if the student loan process changes when you transfer schools

For a host of reasons, millions of students choose to transfer schools after they begin their college careers. Either they find they're too far away from home for comfort, they've switched majors and now want to attend a school that's stronger in that area, or maybe the campus doesn't quite feel right to them.


And of course, millions of students begin their college careers at two-year community colleges before switching to four-year institutions.


According to the National Center for Education Statistics, a part of the U.S. Department of Education, about 2.5 million students switch colleges each year.


Luckily, the student loan process remains the same, regardless of which school you're attending and if you become a transfer student. Simply continue to file the FAFSA each year, and list the institution you will be attending.

If I switch schools, can I transfer my student loan?

The answer, except in unusual circumstances, will generally be no. After all, most student aid, including even federal student loans, is institution-based, meaning it's dependent on where you're attending school.


Remember, you'll be re-filing your FAFSA form each school year, and so you'll be guided to lenders that typically offer loans to students attending the new institution. However, before you apply for a new student loan, look to see if your previous private student loan lender is available to lend to you at your new institution. By keeping multiple student loans with the same lender, you will be able to easily manage all of your loans, have them all listed on one statement during repayment, and be able to access them through online student banking services.


Also, make sure your existing loans from your old institution do not prematurely enter into the six month grace period before repayment begins. You'll need to notify your old school that you are still a student, just at a different institution. As long as you are still attending at least half-time you are eligible for in-school deferment. You should complete a student loan deferment form to ensure your lender and previous school know that you are still a student.

Learn more about an affordable Citizens Bank Citizens Bank Loan™

Consider applying for a private student loan from Citizens Bank. You can find helpful information about an affordable Citizens Bank Citizens Bank Student Loan™ to finance part of your education at your new school. If you still have questions, call a student loan specialist at 1-888-411-0266, and we'll help walk you through the process.

Additional student loan and college planning resources

Repeat Borrowing Checklist
How Does Course Load Affect Financing?
Does Extending my Graduation Date Affect Financing?
Understanding In-State Versus Out-of-State Tuition