The Office of Financial Aid would like to share regulatory changes to federal financial aid for the 2020–2021 academic year.
Interest rates vary depending on the loan type and the first disbursement date of the loan. The chart below provides interest rates for Federal Direct Loans first disbursed on or after July 1, 2020 and before July 1, 2021. All interest rates are fixed rates for the life of the loan. Note: The interest rates for federal student loans are determined by federal law.
The chart below shows the current interest rates for Federal Direct Loans.
|Loan Type||Borrower Type||Loans first disbursed on or after 7/1/20 and before 7/1/21|
|Direct Subsidized Loans||Undergraduate||2.75%|
|Direct Unsubsidized Loans||Undergraduate||2.75%|
|Direct Unsubsidized Loans||Graduate or Professional||4.30%|
|Direct PLUS Loans||Parents and Graduates or Professional Students||5.30%|
Most federal student loans have loan fees that are a percentage of the total loan amount. The loan fee is deducted from each loan disbursement you receive. Even though this means the money you receive will be less than the amount you actually borrowed, you are still responsible for repaying the entire amount of the borrowed loan.
The chart below shows the current loan fees for Federal Direct Loans.
|Loan Type||First Disbursement Date||Loan Fee|
|Direct Subsidized Loans and Direct Unsubsidized Loans
||On or after 10/1/18 and before 10/1/19
|On or after 10/1/19 and before 10/1/20||1.059%|
|Direct PLUS Loans||On or after 10/1/18 and before 10/1/19||4.248%|
|On or after 10/1/19 and before 10/1/20||4.236%|
The Federal TEACH Grant program is a non-need-based program that currently provides grants of up to $3,764 per year, * per sequestration, to graduate students enrolled in an eligible program, as defined by Walden University, and who intends to teach full time in high-need subject areas at schools that serve students from low-income families.
The chart below shows the sequester-required TEACH Grant award reductions.
||Statutory Maximum Scheduled Award Amount
||Percentage Reduction Amount from Maximum Award Amount
||Dollar Reduction Amount from Maximum Award Amount
||Adjusted Maximum Award Amount
|2018-19||First disbursed on or after Oct. 1, 2018, and before Oct. 1, 2019
|2019-20||First disbursed on or after Oct. 1, 2019, and before Oct. 1, 2020||$4,000||5.9%||$236.00||$3,764.00|
For the 2020–2021 award year (July 1, 2020 to June 30, 2021), the maximum Federal Pell Grant award amount is $6,345.
Do you have questions about financial aid? If you haven’t yet applied to Walden, please contact an enrollment specialist at 855-646-5286 in the United States. If you are a current student, please contact a financial aid advisor at [email protected] or call 1-800-WALDENU (1-800-925-3368).