Our Best Answer How do I cancel my loan?
Federal Direct Loans may be cancelled or reduced via One.IU prior to the funds disbursing to the Office of the Bursar; instructions are listed below.
- Log on to One.IU
- Enter Financial Aid into the search field
- Click View My Financial Aid Information
- Click View Financial Aid or click Accept/Decline Awards (under the Finances section)
- Click the appropriate Aid Year
- Click the Federal Direct Sub/Unsub Loan you wish to accept, decline, or adjust.
- Click Submit button once the correct changes have been made.
Once all or part of the loan has been disbursed, the loan cannot be adjusted via One.IU. If the loan has already disbursed, you may cancel/reduce a federal student or Parent PLUS loan using the Loan Cancellation/Reduction Request Form on our website.