The Scholarship System: 6 Steps on How to Win College Scholarships and Secure Financial Aid

Paying for College Part 3: Stop Losing Money When Transferring Credits

Transferring credits? Colleges and universities are making millions off of students just like you. Let's talk about how to make sure it doesn't happen to you.

There are multiple situations in which students have to transfer credits. Below are just a few:

  1. Transferring from 4-year college to another 4-year college
  2. Transferring from a community college, possibly a bridge program, to a larger or 4-year college
  3. Studying abroad and transferring credits back to the States
  4. Bringing credits from dual enrollment courses in high school

In most of these situations, many families pay for these credits which means, if they don't transfer to the new institution, that is money down the drain. Unfortunately, it happens every. single. day.

When it comes to graduating debt free, there are two sides of the equation:

  1. Increasing the debt-free money a student has (i.e. by securing free funding via scholarships, grants and cash awards, working, etc.)
  2. Reducing the amount of money a student needs

As Part 3 of our Paying for College series, we are still focusing on "reducing the amount needed" side of the equation and, in this video, we go on a little bit of a tangent talking about how students in a situation where they need to transfer credits are losing thousands and thousands of dollars. 

This happens because students who try to transfer credits and can't basically end up paying twice for the same class.

Find out how you can prevent losing money when transferring credits by watching the video below:

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Want to learn more on how to graduate debt free?

Check out our last post on how choosing a certain major can actually decrease a tuition bill. You can see that post here: http://www.thescholarshipsystem.com/blog-for-students-families/2016/5/12/paying-for-college-series-part-2-reducing-your-tuition-bill-continued