Applying for federal financial assistance is a two-part process consisting of (1) application and notification of eligibility, and (2) completion of the Master Promissory Note (MPN) and entrance counseling. This process takes approximately two to four weeks from the initial application through the receipt of funds. Students are strongly encouraged to begin the application process at least six weeks prior to the beginning of their start date or renewal date to ensure the following deadlines are met.
If you need assistance as you go through the financial aid application process, please contact:
To apply for and receive federal financial aid, you must complete the following steps:
Submit the Free Application for Federal Student Aid (FAFSA) electronically to the Federal Processing Center at least six weeks prior to the start of the academic term (or program start date for new students). Make sure to include Walden’s Title IV Code: 025042.
Fill out the 2019-2020 FAFSA if you are started your program on or after May 28, 2019.
Fill out the 2020-2021 FAFSA is you are starting your program on or after June 1, 2020.
Note: The 2020-2021 FAFSA is now available. Please make sure to use 2018 tax and financial information when completing your 2020-2021 FAFSA.
Upon receipt of your FAFSA, the Federal Processing Center will analyze your application and forward a Student Aid Report (SAR) to you and Walden’s Office of Financial Aid within three to five business days. Read the report carefully as it contains important information about your eligibility for aid.
If you have any questions while completing the FAFSA, call the Federal Student Aid Information Center at 1-800-433-3243.
Once the SAR is received by the Office of Financial Aid, you may begin using Walden’s online financial aid system (myFinAid) to monitor the status of your financial aid application. The myFinAid Web portal is the 24/7 source for students who have completed a FAFSA and are applying for federal financial aid. Please be aware that at this stage in the process your FAFSA may be flagged by the U.S. Department of Education to provide additional information. If this happens, the Office of Financial Aid will notify you by email to review and submit this additional information through the myFinAid Document portal.
Once your eligibility is determined, you will receive an email from the Office of Financial Aid notifying you that your award is available for review.
Within 14 calendar days of receiving this email notification, you will need to do the following on the myFinAid Web portal:
Once you have accepted your awards and your loans have originated, your financial aid funds will be ready for disbursement to Walden University. The total loan amount awarded to you will be divided into three equal disbursements. These disbursements usually occur on the second Friday after the start of each term. When the Office of Financial Aid receives these disbursement funds, the Office of the Bursar will apply them 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.
For applicable students, Pell Grant funds will automatically be credited to a student’s account 10 days after the start of each term.
If you are a Minnesota GI Bill® (MGIB) financial aid recipient, please be aware that if you do not complete the required MGIB period of instruction, you may not be entitled to keep the full amount of MGIB financial aid disbursed.