Answers:
As far as the FAFSA is concerned, you just need to add your new school's code to have your information transmitted there. You also need to check with your new school as far as what information they require for a financial aid applicant (some schools just use the FAFSA; others use the FAFSA in conjunction with their own application).
If you are already receiving aid such as a Pell grant or Stafford Loan the aid won't transfer per se - your new school will receive information as to what you have received thus far for the school year and award you the remaining eligibility (i.e. if you were awarded $2000 Pell and $4500 in a Stafford loan for the 0708 school year at your current school and attend Fall 07 full time then you would receive $1000 Pell and $2250 Stafford; transferring to the new school you would receive the remaining $1000 Pell and $2250 Stafford for the Spring 08 if going full time).
If you have non-institutional specific scholarships you will need to talk to both school's financial aid officers about what you need to do to transfer those.
If you have an insitutional specific scholarship, it's doubtful that that will transfer to your new school.
Talk to the financial aid officer at your new school to see what more information/guidance you can receive!
Good luck!
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No, you don't have to reapply for finanical aid, but I would contact the college's financial aid office to have the funds transferred over. You will probably get more money, but that's up to them.
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