Request to Reduce or Cancel Loan

Request to Reduce or Cancel Loan

You may request that your loan be reduced or cancelled. The Financial Aid Office may make the reduction/cancellation if the request is received prior to disbursement of the loan. Once the loan has been disbursed, you must contact the Bursar Office within 30 days of the disbursement to request reduction/cancellation of the loan. Please note if you completely cancel a disbursement of a loan, any pending disbursements will automatically be cancelled. If you request a loan with more than one disbursement to be reduced and no disbursements have yet been made, the disbursements will be evenly reduced. All requests must be in writing and include the following information:

    (PLEASE DO NOT INCLUDE SOCIAL SECURITY NUMBER)

  • Direct Student, Direct GradPLUS, and State/Private Educational Alternative Loan (student is the borrower) — Student must make request, not parent. Please include your name, your Bloomsburg University ID Number, and the amount you want the loan reduced to or cancelled. If emailing the request, the email must come from the student's university email account.
  • Direct PLUS Loan and State/Private Educational Alternative Loan (parent is the borrower) — Parent borrower must make request, not student. Please include parent borrower's name, the student's name, the student's Bloomsburg University ID Number, and the amount you want the loan reduced to or cancelled.

Instructions How To Reduce or Cancel Loan

Loan Program Prior to Disbursement After Disbursement

Federal Direct Student Loan (Reduce)

Once the loan has been disbursed, you must contact the Bursar Office 570-389-4013 within 30 days of the disbursement to request reduction/cancellation of the loan. After 30 days, you will need to contact your loan servicer to repay the loan.

Federal Direct Student Loan (Cancel in Full)

Federal Direct PLUS Loan (Reduce or Cancel)

Federal Direct GradPLUS Loan (Reduce or Cancel)

State/Private Educational Alternative Loan