OFFICE OF THE BURSAR

FREQUENTLY ASKED QUESTIONS

I don't want to borrow the loan that is listed on my bill. What should I do?

Notify the Financial Aid Office of your decision. If you change your mind later, a Federal Direct loan can usually be reinstated through the end of April of the academic year. Federal Perkins, Nursing, and University loans are subject to availability of funds and sometimes cannot be reinstated at a later date.

The anticipated credit amount for the Federal Direct loan is slightly less than I thought I was borrowing. Why is that?

An origination fee of 1.5% of the Federal Direct loan is paid to the Federal government. The amount shown on your bill reflects the net amount anticipated to be disbursed to your account.