Accepting, Canceling, or Reducing Loans

You must accept the loans you want to borrow before they can be released to pay your U-Bill and/or be refunded to you. You can also cancel or reduce your loan(s). This is done on the Financial Aid To Do List page in MyUI. If you change your mind later, you can email the Office of Student Financial Aid at to update your loan request. Request can't be done by phone. Immediately after reducing your loans, all of the loans will indicate "accepted" and will be put on hold. You will receive an email when your request is completed.

Loans can only be canceled up to 120 days after the date of loan disbursement. After that point in time loans cannot be canceled through UI and instead a payment would need to be made to the loan servicer to reduce the balance of the loan.

The Office of Student Financial Aid encourages students to evaluate their budget and resources each semester and only borrow the amount of loans that are needed. View our Financial Literacy Services web page for assistance in creating a budget.