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How accept or decline your loans

You must accept your loans each academic year. You can also reduce your loan amount or decline your loans completely by following these steps:

1. Log into and go to .
2. Choose your Aid Year.
3. Choose the award you wish to accept, reduce, or decline (note that you must check the accept box before you can enter a reduced loan amount).
4. Submit.

How to cancel or reduce your loans

You’ll get an email message about your right to cancel or reduce your loans. (If your parent borrowed a Direct Parent PLUS Loan, he or she will get a message as well.)

Be sure to read the important information below before you complete the form. If you don’t want to cancel or reduce a loan, just ignore the message.

You should be sure to reduce or decline your loans through before they post to your student account. If you get a refund before we receive your loan adjustment request, we’ll let you know how much you need to repay to IU, how to pay, and the deadline by which you need to pay.

If you don’t repay the required funds, your request will still be processed (because federal regulations say we have to honor your request). Your student account will then have a balance due. To avoid problems, be sure to pay by the deadline.

Important information about cancelling or reducing your loans

You may use the loan cancellation/reduction request form to request a change to a federal student loan only if you’re the borrower. For example, a parent may not adjust a Federal Direct Loan on which their student is listed as the borrower. If you are not the borrower, your request will be denied.

We’ll process your request in a timely manner, and requests may not be reversed once processed. We may adjust your request if all or part of your loan has already been credited or refunded.

Unsubsidized loans will be reduced or canceled before subsidized loans.

Canceling the first loan disbursement will automatically cancel the second disbursement. Any refunds you’ve already received may need to be returned. If the cancellation or reduction leaves an outstanding balance in your student account, you must use personal funds to pay the balance in full by the due date. Failing to do so will result in late payment fees and other institutional penalties.

If you have questions about the form, contact us and we’ll be happy to help.