Loan Cancellations and Refusals
Students should notify the Office of Financial Aid to decline or refuse an awarded loan (Federal Perkins, Federal Direct Loans and Federal Direct Parent PLUS loans) prior to it being disbursed to the student. Financial aid is processed at the end of the first week of each semester and as it arrives thereafter.
If the loan has already been disbursed, the student is required to notify the Office of Financial Aid in writing within 14 days that they do not want part or the entire loan they have received.
A form can be completed at our office and repayment can be made to Alabama State University by cash, cashier's check or money order, or the original check can be brought to our office. Students who want to refuse loans after the 14 day notification must contact their lender for repayment.