Loan Refusals/Cancellations

Student permissions will remain active until revoked by the student.  Parent permissions will remain active until revoked by the parent borrower or if the parent borrower changes.

  • Before Disbursement Student and/or parent PLUS loan borrowers must notify the Office of Student Financial Affairs to decline or refuse awarded Federal Title IV loans (Perkins, Subsidized/Unsubsidized/Grad PLUS Direct Loans, Parent PLUS Loans) prior to the disbursement of the loan(s).
  • Up to 14 Days from Date of Disbursement If the Federal Title IV loan has already been disbursed, the student and/or parent PLUS loan borrowers are required to notify University Financial Services in writing within 14 days of disbursement to cancel the total amount of the Federal Title IV loan(s) that was disbursed.
  • Up to 120 Days from Date of Disbursement Students and/or parent PLUS loan borrowers may return all or a portion of the loan(s) disbursed within 120 days of the original disbursement date to University Financial Services.  Payment must be in the form of a cashier’s check or money order.
  • After 120 Days from Date of Disbursement Borrowers must contact their loan servicer (lender) for repayment.