Student Handbook 2021-2022

Walsh

Financial Aid

Walsh participates in federal and state financial aid programs and offers scholarships based both on academic achievement and financial need. Policies, procedures, and regulations relating to these areas are published in the Walsh Student Handbook. The Student Financial Aid Step by-Step Guide is available on the Walsh website at www.walshcollege.edu/financial-aid. It is the student’s responsibility to read and become familiar with these policies and procedures. Failure to do so does not excuse a student from the requirements or policies as described.

Financial assistance is based upon the following criteria:

Financial Need – A student who demonstrates financial need as defined by the federal government may be eligible to receive financial assistance through federal, state, and/or institutional financial aid programs. These programs include grants, scholarships, and loans. A student must be enrolled on at least a half-time basis in order to receive federal and state grants and federal loans. A student who is enrolled less than half-time will have grants and/or loans for that term cancelled.

Financial Aid Eligibility – To be eligible for financial aid, a student must:

  • Be a citizen of the United States or an eligible non-citizen
  • Be enrolled in degree or eligible certificate program
  • File the Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov. The FAFSA is available each year beginning Oct. 1 for the following academic year (fall - summer).

Incoming undergraduate students are also eligible to apply for scholarships. A limited number of scholarships are also available to incoming graduate students. The scholarship application is available online at www.walshcollege.edu/scholarships. Students must be admitted to Walsh before they can apply.

Students who have received a financial aid offer may charge books and supplies from the Walsh bookstore to their student accounts if they have completed the Walsh Bookstore Authorization form, available at the time a financial aid offer is made. Walsh participates in the following financial aid programs:

Federal Programs

  • Federal Pell Grant Program
  • Federal Supplemental Educational Opportunity Grant Program (FSEOG)
  • Federal Subsidized and Unsubsidized Direct Loan Program
  • Federal Direct Parent Loan (PLUS) Program
  • Federal Direct Grad (PLUS) Program

State Programs

  • Michigan Tuition Grant*
  • Michigan Competitive Scholarship*
  • Tuition Incentive Program (Phase II)*
  • Children of Veteran Tuition Grant

*FAFSA is required and should be submitted by March 1st for full consideration.

Concurrent Enrollment

Undergraduate financial aid students who wish to enroll at Walsh and a community college during the same semester must contact the Financial Aid office to request a financial aid consortium agreement form.

Federal Direct Loan Program

A financial aid recipient who is a first-time borrower of the Federal Direct Subsidized and Unsubsidized Loan programs at Walsh must complete the loan entrance counseling and must e-sign a Master Promissory Note. This counseling session and Master Promissory Note requirement can be completed online at www.studentaid.gov. This must be done before a request for a Direct Loan can be processed by Walsh.

Financial Aid Exit Interview

A financial aid recipient who has borrowed under the Federal Direct Subsidized or Unsubsidized programs must complete the loan exit counseling session. This counseling session requirement can be completed online at www.studentaid.gov or by individual appointment. The exit interview must be conducted shortly before the borrower ceases at least half-time enrollment.

Return of Title IV Policy

Federal law requires Walsh to determine the amount of Title IV financial aid a student earns if the student withdraws from or stops attending school. A student’s withdrawal date is the date the student began the withdrawal process or officially notified Walsh of their intent to withdraw. If a student leaves without notification, otherwise known as an unofficial withdrawal, the midpoint of the term or the student’s last date of attendance at a documented academically-related activity is used as the withdrawal date. A student who never begins attendance in all classes is considered not eligible for financial aid and all Title IV aid is returned to the appropriate originating agency.

The Title IV programs include and the return of aid is made in the following order:

  1. Federal Direct Unsubsidized
  2. Federal Subsidized Loans
  3. Federal PLUS Loans
  4. Federal Pell Grant
  5. Federal Supplemental Educational Opportunity Grant (FSEOG)

Federal financial aid is “earned” directly in proportion to the number of days attended during the academic term. Walsh must calculate the total amount of federal financial aid the student has earned and is entitled to keep up to the date of withdrawal.

The calculation of earned financial aid is derived from a formula mandated by the U.S. Department of Education. The portion of federal grants and loans a student is entitled to keep is calculated on a percentage basis by comparing the total number of days in the term (less any scheduled breaks of 5 consecutive days or more) to the number of days the student completed up to the withdrawal date. For example, if a student completes 30% of the semester, then 30% of the federal financial aid awarded is considered earned, and 70% of the scheduled awards must be returned.

If a student has already received more financial aid than earned, the unearned funds must be returned to the appropriate originating agency. When the date of withdrawal occurs after 60% of the term has elapsed, the student is considered to have earned 100% of aid, and no action is required. All unearned Title IV funds must be returned within 45 days of the date the school determined the student withdrew.

If a student did not receive all of the funds that were earned, the student may be due a post-withdrawal disbursement. If the student’s post-withdrawal disbursement includes loan funds, Walsh must obtain the student’s permission before a disbursement can be made. Federal grants do not require permission from the student if the tuition and fees charges are greater than the federal grant to be disbursed.

If a post-withdrawal offer requires the student’s permission, a letter will be sent via the U.S. Postal Service. To receive a post withdrawal disbursement the student must accept the offer within the timeframe allowed in the post withdrawal letter. A post-withdrawal offer must be made within 30 days from the date the school determined the student withdrew.