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Transfer student financial aid rules and regulations

Before you receive financial aid through ASU, there are some key points that you need to know:

  • Your financial aid will not transfer with you to ASU. You must have your eligibility evaluated by ASU. This includes your Pell Grant eligibility.
  • ASU will need a copy of your current year FAFSA. If you did not list ASU on your FAFSA you will need to add ASU's school code (which is 001081) to your FAFSA.
  • Once ASU receives your FAFSA you will need to monitor your MyASU Financial page to make sure that you submit any needed documents.
  • Once your file is complete ASU will award your financial aid. You will receive a letter announcing your awards, and your awards will be displayed on your MyASU Financial page.
  • If you borrowed a Federal Student Loan or received a portion of your Pell Grant during the same academic year in that you are starting at ASU, you must contact your previous school’s financial aid office to cancel any remaining undisbursed portion of your student loan or Pell grant.
  • If the loan period at your previous school overlaps with your loan period at ASU, it is possible that you may not be eligible to borrow until the following semester.
  • You may be required to complete a Loan Semester Transfer Form. By completing this form you agree that you will cancel your aid at your previous school. If the aid is not cancelled, your financial aid at ASU may be reduced or cancelled.
  • You have an annual limit, based on your grade level that you can borrow in an academic year. Many students that transfer midyear into ASU have already received loan funds at their previous school. ASU will award you half of your annual loan eligibility to avoid over awards. If you have an over award, ASU will be required to reduce your loans and if you received the funds, you will need to repay them to ASU immediately. If you feel you are eligible to receive additional loan funds, submit a Student Loan Adjustment form. If ASU determines you are eligible to receive an increase to your loans, the funds will be posted to your account
  • ASU may not receive a record of the financial aid you received at your previous school before awarding you. In that case, once the records are transmitted to ASU, due to federal annual borrowing limits per academic year and federal annual Pell grant amounts, your awards could be reduced or cancelled before or after you have received the funds.