Attended Another School? 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 the student’s first term or payment period to notify Walden that the student has federal aid offered at another institution that overlaps their enrollment dates at Walden. The Office of Financial Aid may not be able to make an initial financial aid offer, may make an initial financial aid offer at a reduced amount, or may have to cancel or reduce aid that has already been offered 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 academic year at the student’s prior institution ends even 1 day after the 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. For Walden programs that allow midterm starts, the start date of the full term is used to determine if there is an overlap with the prior institution.
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.
Financial Aid Annual Award Year Definition
Walden defines the annual award year as three 12-week quarters and 30 credits (undergraduate) and 18 credits (graduate) or three 16-week semesters and 18 credits (graduate). For Tempo Learning® programs, the annual award year is defined by program as 52 weeks and a specific number of credit equivalencies (please see Financial Aid Disbursement Process and Requests for Excess Funds for Tempo Learning® Programs for program specific information). If the student does not complete the required semester credit equivalencies in 52 weeks, the annual award year is extended beyond 52 weeks until such time that the student completes the required number of credits.
Students cannot receive federal financial aid for any term for which they register only for a residency. The Office of Financial Aid reviews registrations at the start of each term and cancels federal aid for any students registered for residency only. All students are responsible for managing their student loan refunds to be sure they can pay for residency travel expenses when they arise.
Study at Another Institution or Study Abroad
Enrollment in certain programs of study at another school or study abroad approved for credit by Walden may be considered enrollment at Walden for the purpose of applying for assistance under the Federal Title IV financial aid programs.
For students to access federal financial aid, a consortium agreement is required between the two schools whereby the home school disburses federal aid for courses taken at a host school. The host school agrees not to disburse federal aid and to monitor the student’s enrollment for the home school. Consortium agreements may be made between Walden University (home school) and a host school if the student has been approved by Walden to take coursework at the host institution that will fully transfer toward the Walden degree program. Walden degree-seeking students must submit a copy of the Walden University Letter of Permission to Take a Course at Another Institution Form that is signed by Walden’s Admissions Office and a Consortium Agreement Form signed by the host school’s financial aid office to the Walden Office of Financial Aid.
Students must also meet all other federal financial aid eligibility requirements. If Walden approves the student for a consortium agreement, Walden University will disburse federal aid to the Walden student account, and the Office of the Bursar will issue the refund to the student. The student is responsible for meeting payment deadlines set by the host school. Walden University does not typically pay the host school on behalf of the student, and Walden University does not alter the financial aid disbursement schedule to meet deadlines set by the host school.