Walsh College

Conditions of Financial Aid

Student 2014-2015 Estimated Financial Aid Award Letters will be mailed once their financial aid file is complete. Students are responsible for this information and therefore required to read the information in its entirety.

State and Federal Grants:  Any state and federal grant award amounts are based on the assumption of full time enrollment for the semesters listed on the award letter.  All award amounts are estimated until enrollment is verified.  Two weeks after classes begin we will review your actual enrollment.   If you enroll less than full time, we will prorate any federal or state grant proportionately based on your enrollment status.  State and most federal grants require at least half-time enrollment.  If you received federal grants at another college during this academic year, your eligibility could be reduced.  Federal and state grants are subject to funding levels and may be adjusted.

Estimated Costs & Enrollment Status:  The estimated cost of tuition, fees, and books per semester and enrollment status are listed below:

Undergraduate Full-Time 12 credit hours $5,657
Undergraduate Three-Quarter Time 9 credit hours $4,274
Undergraduate Half-Time 6 credit hours $2,891
Graduate Full-Time 9 credit hours $6,767
Graduate Three-Quarter Time 6 credit hours $4,553
Graduate Half-Time 3 credit hours $2,339

Recommended Loan Amounts:  If you are eligible, your award letter includes a Federal Direct Loan and is an estimate based on full time enrollment.  If you enroll as a part-time student and were awarded a subsidized loan the reduced tuition charges may decrease your subsidized loan eligibility.  If you received a loan at another college during this academic year, your eligibility could be reduced.  The recommended loan amount is only a recommendation.  You are not required to borrow a Federal Direct Loan.  If you borrow, we recommend that you limit your borrowing to the cost of tuition, fees, and books less other financial aid.  To calculate how much to borrow, use the estimated costs listed above for each semester less any grant or scholarship assistance you will receive.

Applying for a Federal Direct Loan: To receive a Federal Direct Loan you must submit the 2014-2015 Federal Direct Loan Program application included with your award letter.  To avoid delays, make sure you have completed a Direct Loan Master Promissory Note and Direct Loan Entrance Counseling online at www.studentloans.gov and register for classes before submitting your loan application to the financial aid office.  Loan applications must be received by the financial aid office a minimum of 10 business days prior to the first tuition due date in order to avoid a late fee by the Business Office.

You must be enrolled on at least a half-time basis (6 credits for undergraduates, 3 graduate credits for graduate students) in order to complete the loan process and receive the loan proceeds.   Students who audit classes cannot count those credits toward half-time enrollment.   Graduate students who enroll in undergraduate classes cannot count those credits toward half-time enrollment.   Students are not eligible to borrow if the aggregate Federal Direct Loan eligibility has been exhausted.

Direct Loans:  For the 2014-2015 academic year Federal Direct Loans (subsidized and unsubsidized) will carry an interest rate of 4.66%.  Graduate student Federal Direct Loans will carry an interest rate of 6.21%.  Graduate and Parent Plus loans will carry an interest rate of 7.21%.

If you are a loan recipient who will be completing your undergraduate degree at Walsh and plan to begin a graduate program here in the 2014-2015 academic year you will need to submit a new loan request when you begin your graduate degree program in order to be certified for the additional graduate loan amounts.  

If you apply for a loan and do not attend, drop or withdraw from all classes, we are required to cancel the remainder of your loan disbursements.  You will need to reapply for a loan if you re-enroll.

If you apply for a Federal Direct Loan if it important that you understand your rights and responsibilities.  Please see http://walshcollege.edu/Loanresponsibility for more information.

150% Federal Direct Subsidized Loan Limit (First-time borrowers on or after July 1, 2013):  There is a limit on the maximum period of time (measured in academic year) that you can receive Direct Subsidized Loans.  In general, you may not receive Direct Subsidized Loans for more than 150% of the published length of your program.  For more information see: http://ifap.ed.gov/eannouncements/attachments/051613DirectSubsidizedLoanLimit150PercentAnnounce1Attach.pdf.

Enrollment:  You must be admitted into an approved degree or certificate program and be enrolled on at least a half-time basis at Walsh College each semester in order to receive financial aid.  Half-time is defined as 6 hours for undergraduate students and 3 graduate level hours for graduate students.  This includes all semesters.

You must attend class in order to receive financial aid.  If you do not attend class, you must return any financial aid refund to the Financial Aid Office.  Students who do not attend any classes are not eligible for the financial aid awarded to them.  Financial Aid will be cancelled which may result in a balance owed to the college.

Dual Enrollment:  If you dual-enroll, you may not receive financial aid at two schools for the same semester but you may request that the Financial Aid Office enter into a consortium agreement with the second college.  You must contact the Financial Aid Office to initiate this process.  A new agreement is required each semester of dual enrollment.

Billing:  Walsh College does not mail printed statements nor send notifications prior to the payment dates.  It is your responsibility to view your student account online via WebAdvisor to check account balance.  Students are responsible to adhere to the billing due dates listed in the schedule of classes.  If you plan to use any of the financial aid awarded to you, it is your responsibility to insure that all required paperwork is submitted and that you are enrolled in the appropriate credit hours to receive financial aid.                         

Repeating Coursework:  Students may repeat a class once.  Students who wish to repeat a class twice are not eligible for financial aid if they received a passing grade in the class being repeated.  For financial aid purposes, a passing grade is any grade other than an F.

Withdrawing from Classes:  If you receive federal financial aid and withdraw from all classes within the first 60% of any semester, the College is required to return a portion of your financial aid.   This also applies to students who do not formally withdraw but stop attending all classes within the first 60% of any semester.  In such cases, the return of financial aid will create a balance due on your account and you will be responsible for paying your account balance.  Students who withdraw from, or stop attending, prior to following dates will have an adjustment made to their federal financial aid:

Fall 2014 – November 12, 2014             Winter 2014 – February 23, 2015

Spring 2014 – May 20, 2015                   Summer 2014 – August 14, 2015

These dates are subject to change.  We encourage you to check with the financial aid office before withdrawing from classes.  If it is determined that a student never attended class, all aid will be cancelled and the student will be billed.

Third Party Payments:  If you receive a third-party payment from your employer to cover, all or a portion of, tuition cost, Walsh will reevaluate your aid eligibility and may have to adjust your aid for the term in which your employer is paying your educational expenses.  You are required to notify the Financial Aid Office in writing if you are receiving a third party payment.

Private Scholarship and Additional Resources:  If you receive a scholarship or award from a business, agency or other organization and it is not listed on your award letter, you are required to notify the Financial Aid Office in writing indicting the source and amount to be received each semester

Satisfactory Academic Progress (SAP):  Academic progress of financial aid recipients will be reviewed at the end of each semester. The full policy can be found online at www.walshcollege.edu/Satisfactoryacademicprogress.

Undergraduate students:  In order to maintain academic progress students must complete 67% of their coursework attempted (including transfer coursework) and achieve a cumulative grade point average of 2.00.

Graduate and graduate certificate students:  In order to maintain academic progress students majoring in MST, MAC, and non degree certificate programs students must complete 50% of their coursework attempted and achieve a cumulative grade point average of 2.00.  All other graduate students must complete 50% of their coursework attempted and achieve a cumulative grade point average of 3.00.

Books:  Although you are not required to, by receiving a financial aid award letter you are eligible to charge your books at the Walsh College Bookstore.  If you choose to charge your books, you must complete the Walsh College Bookstore Authorization form included with your award letter to the Financial Aid Office.  Please make sure you have sufficient funds to cover your tuition, fees and bookstore charges.  If not, it will be your responsibility to pay the difference by the bill due date.  There are deadline dates to charge books each semester.  Refer to the appropriate semester’s schedule of classes for the last day to charge books.

Financial Aid Payment and Refunds:  If you have successfully completed and submitted all required documents, your financial aid will pay to your student account after the last day to drop (see the schedule of classes for the last day to drop).  If your financial aid exceeds your charges (tuition, fees and books, if applicable) you will receive a refund.  Refunds are issued within 14 days after your financial aid pays to your student account.  If you receive a refund from a Federal Direct or PLUS Loan and you no longer want the refund, please contact the Financial Aid Office for further instruction.  If you are eligible for a refund we encourage you to sign up for direct deposit.  For more information about direct deposit visit http://www.walshcollege.edu/directdepositrefunds.

If you have questions, please contact us at 248.823.1665 or e-mail us at finaid@walshcollege.edu.