Financial aid does transfer.

Gettysburg College pays:

• round trip airfare from New York area airport (or reasonable equivalent);
• housing in both London and Lancaster University during term dates;
• food allowance in London and Lancaster during term dates;
• tuition and fees as if at Gettysburg;
• costs for tube/train travel, admissions and tickets for seminar field trips.

Students pay:

• security deposit plus minimal fees for linens and social activities at Lancaster 
  University;
• baggage fee if charged by airline;
• cost for cooking/eating utensils, towels, adaptors for electronic equipment, cell
  phone;
• living and travel costs during break(s) between seminars and terms;
• cost for storage of luggage during breaks, if attending pre-term seminar at 
  Lancaster;
• miscellaneous personal expenses (e.g. passport application, Medical 
  Evacuation/Repatriation Insurance, photographs, visas if required,
  international student card, toiletries, and individual travel).

There is more comprehensive information on the Off-Campus Studies website. The lists above are meant to give the student a general idea of what to expect; details may change from year to year.