ABET accreditation requires at least 45 semester hours of engineering course work in schools where 120 semester hours is the usual number over four academic years (15 semester hours per semester). So unless the student at the “3” school completes at least 10 semester hours of engineering course work there, s/he would need more than 35 semester hours of engineering course work after transfer to the “2” school. In practice, many engineering departments require more than 45 semester hours of engineering course work, so it may be a crowded schedule after transfer (the two years at the “2” school would have schedule space for 60 semester hours).
It also looks like Rollins as the “3” school limits the student’s choice of majors there.
Transfer admission to the “2” school may require a high GPA or be competitive, and financial aid at the “2” school is at the discretion of the “2” school (and may differ from that at the “3” school); check the “2” schools. A student-athlete would also have to leave his/her team at the “3” school and try to make the team at the “2” school (and figure out how athletic eligibility would work in his/her situation of five total years with a transfer).