The Federal Subsidized Stafford Loan is based on financial need and your income and assets are used to establish your eligibility. The Federal Unsubsidized Stafford Loan is available for students who either do not qualify for the Subsidized Stafford Loan, in part or whole, or require additional funds to pay for their education. The Federal Unsubsidized Stafford Loan is available to students regardless of their income level or assets. Remember, these are loans that must be repaid. Although the government has initiated programs designed to make repayment of student loans more affordable, they have also enhanced methods of collection and increased penalties for student loan defaulters.
Federal law requires that student loans be disbursed in multiple payments of equal amounts.
Walden receives your loan funds in three equal disbursements that coincide with the beginning of each quarter for which the funds will be used. Student loan recipients re-apply for assistance in 3 quarter intervals. At the end of three calendar years, you will actually have borrowed through four loan periods. If your lender does not participate in EFT, or you choose not to receive funds through EFT, your lender will send a co-payable check to Walden for your endorsement and return to Walden to be credited into your student account. Refunds are processed and mailed within 14 days after receipt of the request, or the beginning of a quarter for which the funds are intended.