Parent Loan Cancellation/Reduction Request Form

Who May Submit a Request

Only the borrower (person who signed the loan promissory note) may use this form to request a change to a loan. For example, a parent may not adjust a Federal Direct Student Loan because the student is the borrower. A student cannot adjust a Federal Direct Parent Plus Loan because the parent is the borrower. Invalid requests will be denied.

When to Use This Form

This request must be completed within 14 days from the date on the notification email or letter stating that loans have been applied to the student's account.

Result of Submitting This Request
  • Use of this form will result in the execution of the requested action. Requests will be processed in a timely manner and cannot be reversed once completed.
  • Cancellation of the first disbursement of a loan will automatically cancel the second disbursement.
  • Any refunds that have been issued may need to be returned in whole or in part.
  • If this cancellation/reduction leaves an outstanding balance on the student's account, the balance must be paid in full with personal funds by the due date to avoid late payment fees and other institutional penalties.

Cancel or Reduce Loans

* Indicates Required Field

Student Information

* Campus:
* First Name:
* Last Name:
* IU Email:
* University ID:
Requests for cancellation/reduction of loans after 14 days may not be honored. Questions about this form can be sent to iubosfa@indiana.edu

Borrower Information

* Name:
* E-Mail:
Phone:
* SSN: --
The last four digits of the borrower's social security number are only required for borrowers requesting changes to a Federal Direct Parent PLUS loan.

Loan Information

Request 1
* Term:
 
* Loan Type:
Federal Direct Parent PLUS
 
* Action:
Round to nearest dollar
 


Do you want to cancel/reduce an additional loan(s)? *

YesNo


Type the text you see in the image below.

*
Nothing will be submitted until "Submit" is pressed