If the school you are transfering to is ranked significantly higher, you have a shot at $.
For instance. If I'm at Brooklyn, I'm first in my class, and I get into Columbia, you better believe they'll be sending $ my way or I'm gone.
However, if I'm at Brooklyn, top 33%, and I get accepted as a transfer into Cardozo, I will be much less likely to see any $.
I don't think this is true at all. I have never ever heard of any school giving out scholarship/merit money to transfers. The only reason schools give out merit money the first time around is to get people with better numbers to attend to help their medians and rankings. Transfers do nothing for their rankings, so there is no incentive to give them scholarship/merit aid.