Federal financial aid is awarded based on an estimate of the student’s eligibility. The Office of Financial Aid may have to cancel or reduce financial aid before or after disbursement, based on new information that becomes available after the time of awarding or disbursement. Students will be notified by e-mail if an adjustment is made to their financial aid award. Examples of changes that would require adjustments to aid are:
Note: In some instances, a federal Return of Title IV (R2T4) calculation will be required.
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.
When processing a financial aid award for an overlapping loan period, Walden will cap the total loan at one-third of a student’s annual loan limit per semester or quarter in course-based programs (subsidized loans are applicable to undergraduates only). To prevent duplication of the living allowance between schools, Walden must remove the living allowance from the student’s cost of attendance at Walden during periods of overlapping enrollment. Students must make alternative arrangements for payment if they become ineligible for federal aid based on aid received at another institution.
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.
A 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. When a student loan borrower begins a university approved leave of absence, the student’s repayment begins after the grace period is over. Students are advised that once a grace period is utilized, there is no provision allowing an additional grace period and students will go into repayment. Students with federal financial aid or federal loan obligations are advised to contact their servicer to ascertain their loan repayment status during the leave of absence.
The Tempo Learning® leave of absence policy permits students to request a leave of absence if the student is experiencing hardships that make effective academic progress unusually difficult. A leave of absence 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.
Students may be approved for multiple LOAs, but the total of all LOAs may not exceed 180 calendar days in a 12-month period. Students on an approved LOA will not be assessed any additional institutional charges and will not receive federal financial disbursements.
Students who withdraw from a course in the first part of a term and remain registered for a course in the second part of a term will be asked to confirm that they plan to return. Federal rules do not allow Walden to rely on a student’s previous registration if he or she withdraws from the first course. If the student indicates that he or she will return, and he or she does not return, a federal Return of Title IV funds calculation will be processed using the earlier withdrawal date.
Students withdrawing from any or all courses in the term prior to completing 60% of the quarter/semester may find that funds are owed to the university as a result of the required Return of Title IV (R2T4) calculation process. Students who stop engaging in academically related activities during the term without officially withdrawing from the courses are subject to the Return of Title IV calculation. In such cases, the last date of academically related activity, as determined by the university, is used as the withdrawal date for the term, you may owe funds to the university as a result of the Return of Title IV calculation process.
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.
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.
Student engagement in the learning platform is continually tracked and monitored on a weekly basis. If a student has failed to demonstrate engagement in the learning platform for thirty (30) consecutive days, the student will be considered an unofficial withdrawal and will be administratively withdrawn from the program.
Every student is required to submit an academic plan by day fourteen (14) of each three-month subscription period. This submission signifies the start of academic engagement for the period. If a student does not submit an academic plan by day 14, the student is considered an unofficial withdrawal, and the student will be administratively withdrawn from the university. Students who are administratively withdrawn will be subject to the return of Title IV funds using the last date of participation as the withdrawal date.
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 firstname.lastname@example.org or call 1-800-WALDENU (1-800-925-3368).