. The third dependent variable captures differences in the directionality of transfer movement. In this categorization of transfer, a students’ first institution is similarly classified as their second using the Barron’s index categories and IPEDS. By comparing the Barron’s index rankings for transfer students’ first and second institutions, we categorize whether their move can be defined as ascending transfer (e.g., competitive to most competitive), descending transfer (e.g., most competitive to competitive), or parallel transfer (e.g., competitive to a competitive). Hence, we are able to capture whether students are transferring strategically. For instance, students who transfer to institutions ranked higher in competitiveness may be more likely to move due to “prestige-seeking” motivations compared to students who transfer in other directions.