Continuing your education is a big decision. It involves a commitment of time and resources. Our goal at Walsh University is to offer accessible and affordable online educational opportunities. Our Financial Services department is committed to working with you. We also award aid based on need. Tuition for Walsh University’s online undergraduate and postgraduate programs varies from program to program. In addition, the tuition you pay may depend on the program you choose and the number of credits you transfer. However, the cost per credit hour is below:
- Bachelor of Business Administration (BBA): $500 per credit hour
- Master of Business Administration (MBA): $705 per credit hour
- Master of Science in Nursing (MSN) - Nurse Educator or Nurse Practitioner: $685 per credit hour
For undergraduate students, a variety of payment options are available, including:
Federal Student Loans
Federal student loans are funds borrowed from the federal government designed to help students pay for college. They are funds that must be repaid with interest with favorable interest rates and do not have to be repaid until after you graduate or drop below half-time enrollment. Two kinds of Federal Student Loans are available:
- Subsidized Direct Stafford Loans – Loans awarded based on financial need. You will not be charged (interest) while you are in school or, if applicable, for a six-month grace period once you graduate or drop below half-time enrollment.
- Unsubsidized Direct Stafford Loans – Loans not awarded based on financial need. You will be charged interest from the time the loan is disbursed until the time the loan is paid in full. You do not need to repay the loan while you are in school or, if applicable, for a six-month grace period once you graduate or drop below half-time enrollment.
Federal Aid Process
For those who qualify, federal financial aid grant and loan programs may be an option. Steps for completing the financial aid process are as follows:
- Complete the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov. If you have never completed a FAFSA before, you must first create an FSA ID. To do that, visit https://fsaid.ed.gov/npas/index.htm.
- Complete a Master Promissory Note (MPN) and Entrance Loan Counseling at www.studentloans.gov.
- When we receive your completed FAFSA, you may be asked for additional verification documents. (Additional documents may consist of federal tax forms for the prior year, a verification worksheet, W-2s, certain tax schedules, etc.) Verification documents are used to verify the accuracy of the FAFSA.
- Once your FAFSA, MPN, Entrance Loan Counseling and additional verification documents (if required) are received, you will receive an Official Award Letter.
- You may accept or decline any or all aid on your Official Award Letter. Please note that you will need to apply for financial aid every year.
All federal loans are processed through the William D. Ford Federal Direct Lending Program. Below are the federal educational loan options:
Some students find private scholarships to supplement their financial aid and cover the remaining costs. To find scholarship sources, we recommend checking these websites:
For Graduate Students
- Federal Direct Stafford Loans for graduate students – The Federal Direct Loan program allows graduate students to borrow up to $20,500 a year without demonstrating financial need. Applicants must file the FAFSA (note: grad student's file as independent). Graduate Stafford Loans are not eligible for subsidized interest. This means that interest on the loan principal will accrue while the grad student is enrolled. The interest rate on the Graduate Stafford Loan is 5.84 percent at this time. Loan repayment begins six months after the borrower ceases study or drops below half-time status. Stafford Loan proceeds are paid through a student’s school in two or more installments and are first applied against tuition and fees, room, board and related school charges. If loan money is left over, this is refunded to the student.
- Federal Direct PLUS Loans for graduate students – Students may borrow up to the total amount needed to pay for graduate school tuition, room and board (on campus or off campus) books, fees and other educational expenses – less any pending financial aid. Applicants must file the Free Application for Federal Student Aid (FAFSA) and apply for their maximum Federal Direct Loans before the Federal Direct PLUS Loan can be borrowed. Most applicants are eligible for the PLUS – note that a basic credit check is required for this loan.
- Alternative Loans – For students who do not qualify to borrow federal student loans, an Alternative educational loan may be a good option. Unlike federal loans, Alternative loans do not require half-time attendance to qualify. A student taking just one course per term may qualify for an Alternative Loan. Alternative loans are available to students through various major lenders. Most Alternative loans have variable interest rates. Depending on the lender, the interest rate is usually based on LIBOR or Prime rates and may change monthly or quarterly. Interest on the loan begins accruing after the first disbursement. Many lenders defer interest payments while the student is in school, although some lenders require interest payments. When possible, we recommend that the student pay accrued interest while in school and during the six-month grace period.
Students may need a credit worthy co-signer to improve their chances of being approved. With a co-signer, students may receive a lower interest rate, which means less interest will be paid over the life of the loan. A co-signer can be a parent, guardian, or relative who has established a good credit history, has a steady income, and the ability to repay the loan if the student is unable. Before borrowing an Alternative loan, the student and the co-signer should understand that the loan is in both the student’s and the co-signer’s name. If the student cannot make payments on the loan, the co-signer is fully responsible for repaying the loan.
You may apply for an alternative loan through any lender you choose. If you do not have a lender in mind, we offer a list of lender options. When choosing a lender, remember to review back end borrower and repayment benefits, whether the loan will be sold after disbursement, and who will service the loan after disbursement and while in repayment.
Click here to view the list of lenders provided by www.elmselect.com.
If you are a veteran or a military dependent, you may qualify for educational benefits. Qualified applicants can be eligible under the GI Bill for a master’s degree. In addition to the GI Bill, educational programs are available to individuals who have served in other military divisions, including the Selected Reserve. Below are just a few of the programs available to military personnel and veterans. For more information on military aid for master’s degrees, call the Department of Veteran’s Affairs at 1-888-442-4551 or contact us.
Yellow Ribbon Program
Walsh University is a Yellow Ribbon program school. This means we work to help veterans or their children attend Walsh free of charge through GI Education Enhancement Programs. The Department of Veteran’s Affairs and the private college split the difference between the GI tuition benefit and private university tuition cost. In order to be eligible, the veteran must have served at least 36 months of duty since September 11, 2001 and have been honorably discharged. The Yellow Ribbon Program is also available to disabled veterans who were honorably discharged from active duty due to a service-related disability after having served at least 90 continuous days after September 11, 2001.
Post-9/11 GI Bill (Chapter 33)
An educational benefit program exists for veterans who served active duty on or after Sept. 10, 2001.
Chapters 30, 31, 32, & 34
Provide up to 36 months of education benefits to eligible veterans. Benefits are paid 10 years after release from active duty.
Survivors’ and Dependents’ Educational Assistance Program (DEA) (Chapter 35)
Eligible dependents of veterans who are permanently and totally disabled due to a service-related condition or who died while on active duty as a result of a service-related condition may receive up to 45 months of education benefits.
Montgomery GI Bill – Selected Reserve (MGIB-SR) (Chapter 1606 of 1607)
If you are a member of the Selected Reserve, you may be eligible. The Selected Reserve includes the Army Reserve, Navy Reserve, Air Force Reserve, Marine Corps Reserve and Coast Guard Reserve, and the Army National Guard and the Air National Guard. The Selected Reserve components determine eligibility. Eligible participants may receive 36 months of education benefits; entitlement ends 14 years from the date of eligibility of the program or the day the participant leaves the Selected Reserve.