Canceling or Reducing Amount of a Federal Direct Stafford or GPLUS Loan

Answer

To cancel or reduce the amount of a Federal Direct Stafford or Federal Direct Graduate PLUS Loan, students can submit their written loan adjustment request to the Student Financial Services Office or email us at saic.sfs@saic.edu or visit www.saic.edu/loans.

You may reduce or cancel the amount of your Federal Direct Stafford or GPLUS Loan(s) at no cost until you have Federal Direct Stafford or GPLUS proceeds credited to your Tuition Account. If you wish to reduce or cancel any of the loan proceeds, you must submit immediately in writing, ALL of the items noted below to your SAIC Student Financial Services advisor.

1. Name and SAIC ID Number

2. Revised gross Federal Direct Subsidized, Unsubsidized or PLUS loan amounts represented in whole dollars

3. Your signature and date

You are strongly advised to meet with your SAIC Student Financial Services advisor at the time that you submit your loan reduction or cancelation request to the SAIC Student Financial Services office.

Due to federal regulations, SAIC Student Financial Services may not be able to reinstate, at some later date, a Federal Direct loan that has been reduced or canceled.

Warning: SAIC Student Financial Services cannot process incomplete loan reduction or cancellation requests.