Changes in eligibility and enrollment may require us to make adjustments to your federal financial aid. Some scenarios that may result in a change to your eligibility include, but are not limited to:
Overlapping Financial Aid
Federal aid received at another institution may impact the amount of federal aid that a student may receive at Walden. As required by federal regulations, Walden participates in the federal transfer monitoring process whereby the U.S. Department of Education may take up to 90 days into the start of a student’s first term or payment period to notify Walden that the student has federal aid awarded at another institution that overlaps his or her enrollment dates at Walden. The Office of Financial Aid may not be able to make an initial award offer to a student or may have to cancel aid that has already been awarded if it receives information that the student has applied for and/or received federal aid at another institution for an overlapping period. For example, if the loan period at a student’s prior institution ends even one day after his or her start quarter/semester, subscription period, or financial aid academic year at Walden, the student has an overlapping period and Walden must deduct aid received at the other institution from the student’s annual eligibility at Walden. If the loan information is not already updated on the U.S. Department of Education’s Common Origination & Disbursement (COD) website, the Walden University Office of Financial Aid may ask a student to have his or her prior institution complete an Overlapping Financial Aid Form or provide proof of withdrawal to confirm the last date of attendance and disbursed loan amounts at the prior institution.
Overaward of Federal Financial Aid
The receipt of additional estimated financial assistance and/or a reduction in the cost of attendance that was not accounted for at the time of initial awarding may cause an overaward of federal funds. (The term overaward refers to any estimated aid that exceeds a student’s financial need and/or cost of attendance.) Estimated financial assistance includes but is not limited to the following: scholarships, grants, Graduate PLUS loans, third-party payments, and other resources. In such instances, the Office of Financial Aid will correct the overaward by adjusting the federal financial aid award. Federal aid may be adjusted by reducing or reallocating funds prior to disbursement or returning funds to federal programs if disbursement has already occurred. The highest cost loans will be reduced before any reduction is made to scholarship or grant awards.
Leave of Absence
A course-based program student who takes a university approved leave of absence is considered, for financial aid purposes, to have withdrawn from the school. The Return to Title IV refund calculation applies to both university approved leaves of absence and withdrawals for recipients of Title IV aid.
The Tempo Learning® leave of absence policy is defined as a temporary break (30 – 180 calendar days) from their program with a clear intent to return to the program of study. Students who enter into an approved leave of absence (LOA) will not be considered a withdrawal unless they fail to return from leave as scheduled. In such cases, students will be subject to the return of Title IV funds using the last date of participation as the withdrawal date.
Withdrawal from a Term
If you withdraw from any or all courses in the term prior to completing 60% of the quarter/semester or stop engaging in academically related activities during the term without officially withdrawing from the courses, you may owe funds to the university as a result of the Return of Title IV calculation process.
Students who officially withdraw from the Tempo Learning® program will be subject to the return of Title IV funds calculation on a payment period basis. The withdrawal date for students who officially withdraw from the program will be the last date of participation as documented within the learning platform.
Please note withdrawal is different from drop. Dropping is when you enroll in a course and decide not to stay enrolled any time before it starts or within the first seven days. If you discontinue taking a course after the seventh day, then you will be considered having withdrawn from that point on. Prior to withdrawing from all courses in the term or ceasing to engage in academically related activity, student should contact the Office of Financial Aid to determine the amount of federal aid that must be returned. Federal student aid may not cover all unpaid charges due to the university upon the student’s withdrawal.
Do you have questions about financial aid? If you haven’t yet applied to Walden, please contact an enrollment advisor at 855-646-5286 in the United States. If you are a current student, please contact a financial aid advisor at email@example.com or call 1-800-WALDENU (1-800-925-3368).