Tuition & Financial Aid

No. The Federal Direct Unsubsidized Loan is available to students regardless of their income level or assets. The Federal Direct Subsidized Loan is a need-based loan for undergraduate students. To qualify for this loan, you must demonstrate need as determined by federal methodology. The Federal Direct Unsubsidized Loan is available to students who either do not qualify for the Federal Direct Subsidized Loan, in part or whole, or require additional funds to pay for their education.

Federal aid received at another institution may impact the amount of federal aid that you may receive at Walden. As required by federal regulations, Walden participates in the transfer monitoring process whereby the U.S. Department of Education may take up to 90 days into the start of your first term or payment period to notify Walden that you have federal aid awarded at another institution that overlaps your enrollment dates at Walden. The Office of Financial Aid may not be able to make an initial award offer to you or may have to cancel aid that has already been awarded if we receive information that you have applied for and/or received federal aid at another institution for an overlapping period. For example, if the loan period at your prior institution ends even one day after your start quarter/semester or financial aid academic year at Walden, you have an overlapping period. In this case, Walden must deduct aid received at the other institution from your annual eligibility at Walden.

For Walden programs that allow mid-term starts, the start date of the full term is used to determine if there is an overlap with the prior institution.

No. Federal law requires that student loans be disbursed in multiple payments of equal amounts.

Walden receives your student loan funds from the federal government and disburses the funds directly into your student account. Any time proceeds from loans/grants credited to a student’s account exceed direct charges, the Office of the Bursar will automatically forward the balance directly to the student. This occurs no later than 14 days after funds are credited to the student’s account.

Yes, there may be some education tax benefits if you receive financial aid. Learn more by reading “Tax Benefits for Higher Education” from the IRS.

Student loan recipients reapply for federal financial aid assistance in three-term intervals. If you begin the program in September, you will borrow from September through May (September, December, and March terms). You will then renew your application for a loan period of June through February (June, September, and December terms), and so on.

No, you will not be penalized if your financial aid application was completed by the tuition due date. The Office of Financial Aid and the Office of the Bursar are in constant communication about your status during this time of the term, and Walden understands that federal loan funds will not be received prior to tuition due dates.

Walden provides multiple resources to students while attending Walden. There are two key financial aid sites you will be using when receiving financial aid:

• Your Walden myFinAid Account
  Once you’re admitted and we receive your FAFSA, we’ll inform you of your federal financial aid options via your Walden myFinAid portal. Your myFinAid portal will be your source for Walden-specific tasks and financial aid messaging. It is recommended that you visit this site periodically, especially when transitioning from one term to the next.
• Your Federal Student Aid Account at StudentAid.gov
  This is your federal portal which provides you with a lifetime view of your federal financial aid account. You will also be directed to this site to complete federal financial aid requirements such as completing the FAFSA, Master Promissory Note, Entrance Counseling, and Exit Counseling. This is where you can view a summary of the federal grants and loans you have received. You can also find information about loan repayment here. Your FSA ID gives you access to this site.