Student loans are disbursed in three equal payments over the loan period, and are forwarded via electronic funds transfer (EFT) to Walden University near the beginning of each academic term. For students not electing to participate in the EFT process, each lending institution provides Walden University with co-payable checks. These checks are forwarded to students for endorsement, and must be returned to Walden University for deposit into the student's account. 

 

Students in good standing may have any excess balance in their account returned to them to pay for indirect educational expenses. Any time loan 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 days after the financial aid funds are posted to the student's account.  Students may, in writing, authorize Walden University to retain their credit balance until the end of the loan period.

 

In accordance with federal regulations, refunds are processed and mailed within 14 days after the financial aid funds are posted to the student's account. Students are responsible for payment of tuition and fees incurred after a full refund has been released (e.g., graduation fees, added courses, residencies).  Refund distributions are made in accordance with applicable federal guidelines. Any outstanding debt to the university as a result of a required refund is the responsibility of the student.

 

Return of Title IV Funds Policy

Students receiving federal financial aid who completely withdraw from the university prior to the 60 percent point of an enrollment period are subject to the federal formula that requires the university to return Federal Title IV aid to the appropriate federal fund(s) account.  The percentage of Title IV aid to be returned (that which is unearned) is in direct correlation to the student’s approved date of withdrawal as determined by the Office of the Registrar.

 

Financial aid funds will be returned to the appropriate agency in the following order:

 

1.  Unsubsidized Federal Stafford Loans

2.  Subsidized Federal Stafford Loans

3.  Pell Grant Program

 

Please Note: Any outstanding balance to the university as a result of a required return of funds is the responsibility of the student.