Can i transfer purchases from one account to another?

My son has an iCloud account for his iPod Touch that he has purchased many apps and songs on.  His school has assigned new iPads (that us parents have to buy out of pocket) and he was assigned to create a new iCloud account for that iPad that he will use and buy his own apps on for the rest of his public education and probably further.  therefore, the current iCloud account will not get used.  Is there a way to transfer the purchases from his old iCloud account to his new iCloud account and delete the old account?  If not, he may have wasted up to $100 in App purchases that can't be transferred.
thanks.

Hey imattster!
If you are speaking of merging your Apple IDs so that the purchases are under a singular account, this question is addressed in the Apple ID FAQ which can be found here:
I have multiple Apple IDs. Is there a way for me to merge them into a single Apple ID?
Apple IDs cannot be merged. You should use your preferred Apple ID from now on, but you can still access your purchased items such as music, movies, or software using your other Apple IDs.
If you are wondering how using multiple Apple IDs relate to iCloud, see Apple IDs and iCloud.
Frequently asked questions about Apple ID
http://support.apple.com/kb/HT5622
However, I have an article for you that can help you use your new iCloud account for personal data while continuing to use your old Apple ID/iCloud account for your purchased items so that you do not have to worry about not being able to utilize any previously purchased apps:
Using one Apple ID for iCloud and a different Apple ID for Store Purchases
You can use different Apple IDs for iCloud and Store purchases and still get all of the benefits of iCloud. Just follow these steps:
iPhone, iPad, or iPod touch:
When you first set up your device with iOS 5 or later, enter the Apple ID you want to use with iCloud. If you skipped the setup assistant, sign in to Settings > iCloud and enter the Apple ID you’d like to use with iCloud.
In Settings > iTunes and App Stores, sign in with the Apple ID you want to use for Store purchases (including iTunes in the Cloud and iTunes Match). You may need to sign out first to change the Apple ID.
Using your Apple ID for Apple services
http://support.apple.com/kb/ht4895
Also, this article will guide you in downloading those previously purchased items onto your new device:
Downloading past purchases from the iTunes Store, App Store, and iBooks Store
http://support.apple.com/kb/HT2519
Thanks for being a part of the Apple Support Communities!
Regards,
Braden

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