Return Loan Funds
How to Return Loan Funds
We can help you return loan funds that have been disbursed to us and loan funds you’ve received in the form of a refund check.
To return loan funds, you should:
- Complete a Request to Return Loan form
- Include the refund check with your form, if applicable
- Be sure to include a copy of your photo ID
- Round the amount you like to return to the nearest dollar
- Allow five business days for processing
- We cannot return Federal Direct Loan funds if the date the funds posted to your account exceeds 120 days.
- If you wish to cancel all or part of a borrowed amount after 120 days, you are repaying part of your loan and will pay accrued interest and fees. These payments should be made to your federal loan servicer.
Returning to a Loan Servicer
If you are cancelling a borrowed amount after 120 days, you will need to make that payment directly to your loan servicer.
Your loan servicer is assigned to you by the U.S. Department of Education when you borrow funds for college.
If you are unsure about which center is your assigned servicer, you can find out through the federal government’s National Student Loan Data System.
You can also call 1-800-4-FED-AID to find out your servicer.