2019–2020 Walden University Student Handbook (September 2019) 
    
    Dec 04, 2020  
2019–2020 Walden University Student Handbook (September 2019) [ARCHIVED CATALOG]

Financial Aid Disbursement Process


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Financial Aid Disbursement Process and Requests for Excess Funds for Course-Based Programs

Most financial aid is disbursed in three equal payments over the award period. Students in good standing may have any excess balance in their account returned to them to pay for indirect education expenses. Any time financial aid proceeds credited to a student’s account exceed direct charges, the Office of the Bursar will automatically forward the credit balance directly to the student, no later than 14 calendar days after the credit balance occurs.

If students are not subject to Adequate Academic Progress (AAP) as first-time undergraduate students, they may receive Pell Grants, and their financial aid may create a credit balance. These students can request book vouchers at www.WaldenU.edu.

Students are responsible for payment of tuition and fees incurred after a full credit balance refund has been released (e.g., added courses and residencies fees). Credit balance refund distributions are made in accordance with applicable federal guidelines. Any outstanding debt to the university as a result of a required credit balance refund is the responsibility of the student.

Unless students are subject to the AAP process outlined in the following section below, financial aid generally begins disbursing on day 12 of the term and refunds are released to eligible students by day 26 of the term (14 days after funds have disbursed to the student’s account). Students must participate in their online coursework to establish eligibility and remain eligible for federal aid. Failure to participate in academically related activity will result in loss of eligibility for all or part of the term. If two sequential courses make up a student’s quarter or semester and he or she does not register for the first half of the quarter/semester, federal aid cannot disburse until day 12 of the second half of the term. Disbursements may be delayed if the student is subject to a Satisfactory Academic Progress review for a prior term.

Adequate Academic Progress (AAP)

All new undergraduate students* are conditionally admitted to Walden University until they demonstrate adequate academic progress. Financial aid cannot be disbursed to a Walden student account until the student has met the AAP requirements as set forth in the Walden University Student Handbook. Conditionally admitted students will not have book vouchers available as an option. Once conditions and all other eligibility requirements have been met, federal financial aid will disburse. Disbursements to a new undergraduate student’s Walden account can be expected to occur by the close of the 4th week of the term. Students will receive a notice of disbursement. The Office of the Bursar releases refunds to eligible students 14 days after the date of disbursement.

Please note: Should the student not meet the minimum requirements for AAP, his or her financial aid offer will be canceled.

 

*Excludes students in the Bachelor of Science in Nursing (BSN) completion program.

Refund Policy for Minnesota GI Bill® Program (MN OHE GI Bill®)

Minnesota GI Bill® (MGIB) financial aid recipients who do not complete the required MGIB period of instruction may not be entitled to keep the full amount of MGIB financial aid disbursed to them.

Financial Aid Disbursement Process and Requests for Excess Funds for Tempo Learning® Programs

Walden’s financial aid academic year for federal student aid in Tempo Learning® programs is defined as follows:

Program Weeks Credit Equivalencies
Bachelor of Science in Nursing 52 45
Graduate Certificate in Early Childhood Administration 52 15
Master of Business Administration 52 18
Master of Healthcare Administration 52 26.5
MS in Early Childhood Studies 52 16.5

The academic year is also the loan period. The loan period is then divided into two equal payment periods. The first payment period ends when the student successfully completes half the credit equivalencies and half the weeks in the academic year. The second payment period ends when the student completes the remaining credit equivalencies and weeks in the academic year. If the payment period weeks have elapsed and the student has not successfully completed the required credit equivalencies, additional financial aid will not be reviewed for disbursement until the required credit equivalencies are completed. Likewise, if a student completes the required credit equivalencies in the payment period before the required weeks have elapsed, additional financial aid will not be reviewed for disbursement until the required number of weeks have elapsed.

The loan amount for the loan period is divided equally between the two payment periods. Each payment period is then broken into two disbursements designed to align with the student’s 3-month subscription periods. Therefore, in most cases, financial aid is disbursed in four equal payments over the award year.

All disbursements require that the student has submitted a Customized Learning Plan (CLP) by day 14 of each 3-month subscription period which confirms that they will attempt the full-time credit equivalency for that period. All disbursements also require the student to meet all federal financial aid eligibility requirements and all Satisfactory Academic Progress requirements. Students who are eligible for disbursements at the beginning of a subscription period will have their federal funds posted to their Walden student account after the 2-week CLP/agree-to-credits deadline date.

Disbursements at the start of the payment period (with the exception of the first disbursement of the program) require that the student has earned half the semester credit equivalencies and has completed half the weeks in their financial aid academic year. Disbursements at the midpoint of the payment period require that the student has completed half the weeks in the payment period.

This disbursement schedule is designed to align with the student’s subscription billing period. It is important to note that a student’s pace or transfer from a prior school may result in payment periods and disbursement dates that do not fully align with the subscription billing periods.

If a student’s remaining credit equivalencies at the start of an academic year are less than the defined credits in an academic year for their program, it is possible for the academic year to be less than 52 weeks.

Likewise, if a student transfers to Walden with an overlapping enrollment from a prior school, this could also result in an academic year to be less than 52 weeks. Consequently, there may only be one payment period or one disbursement in the payment period. In these cases, the disbursement dates may not align with the subscription billing due dates.

Students in good standing may have any excess balance in their account returned to them to pay for indirect education expenses. Any time financial aid proceeds credited to a student’s account exceed direct charges, the Office of the Bursar will automatically forward the credit balance directly to the student, no later than 14 calendar days after the credit balance occurs.

Students are responsible for payment of tuition and fees incurred after a full credit balance refund has been released. Credit balance refund distributions are made in accordance with applicable federal guidelines. Any outstanding debt to the university as a result of a required credit balance refund is the responsibility of the student.