Description: This is a tutorial on how to use the Walden Financial Aid Awarding Process in My FinAid Portal and what each tab can provide on the portal.
You’ll need to log into your my finaid portal to get started, let’s go to start your awarding process.
You’ll need to have completed your FAFSA or free application for federal student aid, if you haven’t submitted, you’ll need to do so at least a month before your term starts. After your FAFSA is submitted, you’ll want to log into the portal to begin tracking your financial aid.
When you log in, first use the drop down menu in the upper right hand corner of the page to select the award, if you want to view as a continuing student, you’ll have to choose the current award year, if your FAFSA hasn’t been processed, you’ll only see the previous years. If you’re a new student, you’ll have to wait five business days from when you submitted your FAFSA before you can first log in.
Once you’re in the correct award year, click on the documents tab, you can see this tab whether you’ve been awarded or not, you may have documents to complete. Once your FAFSA and any additional documents are completed, your financial aid application will be reviewed for an award determination when your awards have been determined.
You’ll be notified through your walden email to review your awards, click on the awards by term tab and scroll to the bottom. The subtotal combines all grants loans and scholarships you’re eligible to receive, you can use this figure to compare your university charges with the aid you’ve been awarded. Keep in mind that the date to the left of the fund refers to the start date of the term for which you’re receiving, financial aid at walden is generally three terms and new awards are made on a rolling basis.
Next you’ll click on the accept awards tab. If you’re ready to make a decision about your awards, you’ll need to agree to the terms and conditions. After you click agree, you’ll be taken to a new page that shows your awards at the bottom of the screen, you’ll have the option to accept the full award, reduce your reward amount or decline your awards all together. You don’t have to accept all of the aid, but it’s smart to review your loan history or accepting any of it.
You can do this on the loan history tab which shows the outstanding and pending amounts for your federal stafford loans according to the National Student Loan data system. These amounts are important to know because they count toward your lifetime aggregate loan limit, there are limits to how much federal loan money you can borrow in your lifetime, so this tab will help you calculate how much money is still available to you.
If you want to accept all of the list, simply click the accept all button to decline all financial aid, click to clinal to reduce the amount of one or more awards, enter the amount of aid you want to accept into the box for that fund.
Remember that the amount entered will be divided evenly in three disbursements over your current award year, once you’ve been at the amount change, the status for that aid type from pending to accept, then click Submit. You may decide to decline a particular award to do that, change the status for that aid type from pending to decline, next click Submit.
After you’ve finished making your award decisions, you should return to the documents tab. It’s a good idea to check here to see if there are any new documents or forms you need to complete if you’re taking out loans, you can use the loans tab at any time to check on their status.
Once your loan shows sent to lender, it will be ready for disbursement which is when the lender sends your financial aid money to Walden, you can use the disbursement tab to find out. This tab displays the scheduled and disbursement dates for your financial aid, as a general rule disbursement occurs on the second Friday after the start of each term when Walden receives the funds from the lender, we apply them to your outstanding bill.
If there’s money left over after your tuition and fees are paid, we’ll send it to you as a refund within 14 days of the disbursement date.
You can find more detail on each tab, we’ve reviewed by visiting the my finaid portal if you have any trouble with your student portal.