Money Management Tips for Transfer Students

Don't forget to have your financial aid information in order before you transfer!

Whether you’re transferring out of state or across town, it’s important to make sure your financial aid information and funding for the semester are in order. Read through this checklist before you make your move:

  • Paid housing deposit
  • Accepted scholarships and found out if you must reapply next year
  • Finalized the details of your student loan
  • Planned out a budget for the school year
  • Purchased a computer and any other necessary equipment
  • Set up bank accounts
  • Purchased any necessary airline tickets
  • Sent completed section of promissory note to financial aid office
  • Set money aside for school supplies
  • Paid registration fees not covered by financial aid
  • Paid tuition deposit and finalized details of payment plan

How much you spend during your time in college depends upon many factors: type of institution, amount of financial aid, and housing costs to name a few. Keep these tips in mind to make the most out of every dollar:

  • Don’t miss out on financial aid opportunities by missing deadlines. Complete and return applications early for the best chance of being awarded.
  • Notify the financial aid office at the college you’ll attend if your financial situation changes.
  • Find out if you need to reapply each year for the financial aid you’ve been awarded. Failure to reapply could cause you to miss out on much-needed funding.
  • Be careful with those credit cards: debt accumulated while in college can haunt you for years if you let it get out of hand.
  • Many credit cards have a high interest rate that can make it difficult to pay off the balance you owe. Try to use credit cards only for expenses you know you can pay back right away.
  • Look into the university’s prepaid meal plan if you know you’ll be on campus often and late at night. By avoiding going out to eat, you could save money in the long run.
  • Buy used books rather than new ones. They are cheaper at your university’s bookstore, and sometimes you can borrow them from students who have previously taken the class.
  • Flash your school ID card at local stores. Small businesses, movie theaters, and restaurant chains will often give college students a discount.
  • Open a free checking account to avoid paying monthly charges and ATM fees.
  • Investigate housing options. Living on campus may be more convenient and cost-effective than residing in an apartment off campus.
  • Contact the school to determine whether it offers affordable health insurance coverage or some type of health plan for students.


This article was written by Hannah Purnell

Hannah Purnell is a staff writer for Hannah writes extensively on the topic of undergraduate studies and the college search process.

1 Comment

  1. keyjordan potts

    this really helped me recongnize how college going to be for me .

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