Hello and thank you for joining me to learn more about the Return of Title IV Funds policy and how it can impact your financial aid.
This is a very important—and often confusing—federal requirement that you need to understand before you enroll in your courses this term. Through this video, I plan to give you some insight on what Return of Title IV Funds is, how it works, and what resources are available to you when you are unable to continue your course.
So, what is Return of Title IV Funds? Return of Title IV Funds is a federal regulation that governs your eligibility to keep the federal financial aid you have been awarded.
Simply put, if you do not complete all of the days you were scheduled to attend in the term— either by ceasing to participate in a course, withdrawing from a course or dropping a later consecutive course — then Walden University is required to calculate the amount of federal financial aid you’ve actually earned.
So let’s talk about participation –so for each day you participate in your courses, think of it as if you are ultimately earning a portion of your financial aid funds. The more days you participate, the more likely you are to earn your entire aid award amount. This doesn’t necessarily mean you have to participate every single day of the term; it just means that it is very important to meet all of the course requirements, which may include weekly participation.
So what happens if you want to withdraw or drop from a course? If you withdraw or drop from a registered course, a Return of Title IV calculation will be made to determine if you’ve completed at least 60.1% of the days scheduled to attend in the term. If not, a portion of the money that may have already been disbursed to you must be returned to the appropriate federal program by Walden.
While interrupting your studies early may reduce the amount of loan that you have to repay, you may end up owing a balance to Walden that can prevent you from enrolling in future courses. This decision could also trigger your loans to go into repayment due to your changed enrollment status.
Lastly, if you are enrolled in in consecutive courses within the same term and you drop the later course in a term, you can still activate Return of Title IV Funds even though you passed your earlier course.
So, we would like to share some helpful strategies to handle these times when you are not able to complete the term – after all, life happens.
If your situation has changed and you are unable to participate as you are required, you should contact academic advising for assistance in determining available options for your current registration and future coursework. Once you have your new academic plan, be sure to contact the Office of Financial Aid to understand how your financial aid will be will impacted. If funds must be returned to your lender, a financial aid counselor can help you figure out your options to get back on track with your financial aid disbursements.
I hope you now have a better understanding how academic decisions can impact your financial aid and trigger the Return to Title IV policy to go into effect. We understand you might encounter situations that can affect your education and that is why we are here to support you and provide you with information that helps you make the best decisions.
If you still have questions or want to read about the Return of Title IV Funds in more detail, you can always visit the financial aid section of our website to review the official Walden University Financial Aid Terms and Conditions document.
For additional support, please feel free to also contact Financial Aid at [email protected] or 1-800-WALDENU. Thank you for watching and best wishes to you this term.