Does transferring affect my student loans?

Transferring to Ohio State University will affect your student loans, and you'll need to take specific actions to ensure your funding continues smoothly. When you transfer schools, your existing federal student loans will remain with you, but they won't automatically transfer to your new institution. You'll need to contact your current loan servicer to place your loans into transfer status.

Your first step should be to contact your current school's financial aid office to understand how your transfer impacts your existing aid. They'll help process your withdrawal and explain any immediate effects on your current loans. Some loans may enter their grace period during the transfer process, so timing your transfer between semesters can help avoid any gaps in enrollment that could trigger loan repayment.

For federal student loans, you'll need to update your FAFSA to include Ohio State University's school code. This ensures your new school can access your financial information and determine your aid eligibility. You should also contact Ohio State's financial aid office to understand their transfer student policies and any additional paperwork they require.

Private student loans require separate attention. Contact your private lenders directly to inform them of your transfer. Some private lenders may need to reassess your loan terms based on your new school's cost of attendance. They might also require a new application or updated documentation to continue your funding at Ohio State.

Remember that your existing loans will follow you to your new school, but your aid package may change. Ohio State will create a new financial aid package based on their costs and your updated FAFSA information. Start this process early, ideally a semester before your planned transfer, to ensure continuous funding for your education.