Request Reduction or Cancellation of Federal Direct Loans

You have the right to reduce or cancel your Federal Direct Loan offer any time prior to the disbursement. Within 21 days following your loan disbursement, you will be sent an email notification informing  you that your loan has been disbursed (credited) to your Bursar account. You have the right to cancel all or a portion of your student loan within 14 days of the date of the email notification informing you of that right.

You may cancel all or a portion of your loan online (if you have not already accepted your loan offer) by logging into myMU. If you have accepted your Federal Direct Loan offer and subsequently want to reduce or cancel your loan offer, you must complete the Award Adjustment Form and submit it to the Office of Student Financial Assistance based on the required deadline referenced above.