No. Financial aid does not transfer from one institution to the next. You will need to have your FAFSA information sent to your new college. You can do this on the web at http://fafsa.ed.gov or by calling the federal processor at 800-433-3243. Also contact the financial aid office at your new college about any other required documents. You should also send the University of Iowa Office of Student Financial Aid an e-mail or letter explaining that you will not be attending and requesting to have your financial aid cancelled.