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How Do I Cancel My Loans?

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Functional GroupFinancial Aid
Depending on the type of loan you have been offered, and what action you have already taken, determine the steps you need to take.  

Direct Subsidized, Direct Unsubsidized, Perkins or Grad PLUS Loans
  1. If you have not accepted your loans and you want to decline them, go to My ASU under the Finances tab. If you decide that you need your loans at a later time, please complete a Student Loan Adjustment eForm.
  2. If you have not accepted your loans and you want to accept a reduced amount, you can accept a reduced amount through My ASU under the Finances tab. Keep in mind that the amount you accept will be disbursed half for fall and half for spring, if you are attending the academic year. 
  3. If you have already accepted your loans or if the loans for that semester have already disbursed and you wish to adjust your loans, you can submit a Student Loan Adjustment eForm.
Direct Parent PLUS Loans
  1. The only action you, the student, can take on the Parent PLUS Loan is declining it, if it has not been accepted. Keep in mind that if your parent decides that they want to accept the Parent PLUS Loan at a later time, your parent will need to submit a Parent PLUS Loan Action form to reinstate the loan.
  2. If your parent wants to cancel or reduce the amount of the Parent PLUS Loan after it has been accepted or disbursed, your parent must submit the Parent Plus Loan Action form to Financial Aid and Scholarship Services. This form must be notarized. You can submit the form via mail, in person or by fax.
Private Education Loans
To cancel or reduce your Private Education Loan you must contact your private lender.


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