Increasing, Decreasing, or Canceling Financial Aid
If you have already accepted your financial aid, and you would like to make an adjustment to the accepted amount you must contact your Student Finance Advisor and request a Loan Adjustment Form. This form will be loaded into your Student Portal for electronic completion. Please note, you must submit the Loan Adjustment Form within the actual Award Period.
There are three options you can choose from:
- Decrease the amount of loans you are receiving
- Increase the amount of loans you are receiving or simply check the maximum amount box to receive the maximum eligibility amount
- Cancel all or a portion of your loans for the entire academic year or individual terms
When filling out the form, you will need to make sure you mark the specific loan and/or term (if applicable) in which you would like to adjust your loan. Keep in mind, the amount you list is for the total amount of the loan, which will be split up into the remainder of the award period. This means that if you want to change your loans after funds have already disbursed then you will need to account for that money.
Additionally, federal regulation requires that a loan origination fee be taken off each loan disbursement. When calculating how much you wish to accept, you need to also include the origination fee.
This can be a little complicated so be sure to reach out to your Student Finance Advisor for help with the form or if you need assistance with how much aid to accept when your financial aid package is initially completed and ready to accept.