Understanding FAFSA
Free Application for Federal Student Aid (FAFSA® form)
Who should complete the FAFSA?
If you are exploring options for funding your education, you should complete the Free Application for Federal Student Aid (FAFSA).
When should you complete the FAFSA?
You should complete the FAFSA at the same time you’re applying for admission to Walden.
Which form should you complete?
- If you started your program on or after May 30, 2022, complete the 2022–2023 FAFSA.
- If you start your program on or after May 29, 2023, complete the 2023–2024 FAFSA. The 2023–2024 FAFSA will be available October 1, 2022.
The Office of Financial Aid processes offers on a rolling basis with a priority deadline of June 1, 2023, for the 2023-2024 FAFSA year. It is strongly recommended that students complete their Financial Aid Application at the same time they are applying for admission or 8 weeks prior to the renewal date of their existing loan.
How to Start Your FAFSA
1
Get Prepared
Never filled out a FAFSA? The first step is getting your FSA ID and gathering the documents you’ll need. The FSA ID is your access to your Federal Student Aid account which you will use along with your Walden myFinAid account for managing your federal financial aid.
2
Complete the FAFSA Form
Description: Walden’s school code is 025042. Use the IRS Data Retrieval Tool. We’ll receive your FAFSA a few days after it’s completed.
3
Review Your Student Aid Report
Once we receive your FAFSA information, you may begin using Walden’s myFinAid portal to monitor the status of your financial aid information. We’ll notify you by e-mail if your Student Aid Report requires you to submit additional information to us through your myFinAid portal.
4
Respond to Your Aid Offer
Once we determine your eligibility, you’ll receive an e-mail notifying you that your offer is available for review. Responding includes the following steps:
Accept or adjust your aid offer.
Complete loan counseling.
Complete the Master Promissory Note.
5
Receive Aid
Once you’ve accepted your offer and your loans have originated, your financial aid funds will be waiting for disbursement to Walden. After the term has started and all admission requirements are completed, the Office of the Bursar will apply these funds to your outstanding bill. If there is any money left on your account after your tuition and fees are paid, the Office of the Bursar will send it to you as a refund within 14 days of the disbursement date.
6
Renew Your FAFSA
The FAFSA form applies to a single academic year. That means you need to submit a FAFSA form each year. Make sure you maintain federal eligibility requirements which include enrolling at least half time, meeting all participation requirements for your courses, and maintaining satisfactory academic progress.
Log back in at studentaid.gov and complete the FAFSA for the correct year. If you completed the FAFSA for next year, we will keep it on file for use when next year’s FAFSA is required.
A variety of factors impact the overall cost of your program, and availability of financial aid including (but not limited to):
- Length of time you are in your program
- Transfer of credit eligibility
- Fees associated with residencies
- Cost of books and/or class materials
A Walden Enrollment Specialist can help you determine a personalized estimate of program cost to help guide you in your funding decisions.
Regaining Eligibility: If you lose federal financial aid eligibility, there may be something you can do to get it back.
Lifetime Limits: There are limits to the amount of federal aid you can receive. It is important to understand how much you have used and how much you have left to complete your educational goals. Make sure to explore all your options.
Find more frequently asked questions in our Financial Aid Help Center
Talk to your personal Enrollment Specialist for more information today.
Please use our International Form if you live outside of the U.S.
1For Washington State residents seeking information and resources about student loan repayment or seeking to submit a complaint relating to your student loans or student loan servicer, please visit www.wsac.wa.gov/loan-advocacy or contact the Student Loan Advocate at [email protected].