Change or Cancel Your Loans
As a student or parent borrower, you have the right to cancel the entire loan or any portion (a specific disbursement) of your loan. Requests to cancel a specific loan disbursement may be submitted prior to the date of crediting to your account or within 14 days of the ‘Notification of Federal Disbursement’.
If a disbursement has already credited your Northumbria University account, then you may only request to cancel that disbursement if a surplus payment has not been generated. Please note that you can request to cancel future disbursements.
If a surplus payment has not been generated, you must request to cancel the disbursements within 14 days of notification that the funds disbursed to your account.
If a surplus payment has been generated, you will be required to repay the funds to the Department of Education directly, please contact your loan servicer for further information.
If you wish to cancel your loan you must inform us immediately.
If you wish to increase or decrease your loan you must let us know how much less or additionally you wish to take out, providing any request will not be greater than your COA.
If you have borrowed up to your COA maximum, you will need to provide information on exceptional circumstances in order for us to consider increasing your COA.
