Loan Adjustments

Federal Subsidized, Unsubsidized and Plus 

Per FSA guidelines, you have the right to cancel or reduce your student loan(s).

If you wish to cancel or reduce your student loan(s),and there is no credit balance on your account, you will need to send UMSL the funds to be used to reduce the loan.  You can either: 

• Send or bring to Student Financial Services a check payable to UMSL for the amount you wish to return, along with a written and signed statement explaining that you wish to use the funds to reduce the loan.  If you are using a refund check to reduce your loan, please endorse the back of the check and include it with the written request.
• Make an online payment in TouchNet of the amount you wish to return, and send an email at that time requesting that the loan be reduced.  Emails should be sent to financialaid@umsl.edu.  Emails from students should be sent from the UMSL email account, and parent borrower emails should be sent from the email account specified on the PLUS borrower’s application.  A delay in sending the email after a payment is made could result in the funds being returned in the form of a refund. 

The written request, regardless of the method of submission, should include the following:

• Student Name and Student ID number
• The semester(s) and amount you want returned
• The loan(s) being reduced; we recommend that students reduce their Direct Unsubsidized Loans before reducing the Direct Subsidized Loan since the latter is interest-free to the student during periods of half-time enrollment, the grace period, and periods of deferment. 

The latest a request will be accepted is 120 days of disbursement of your funds. If you wish to return the funds after the 120-day deadline, please contact your loan service to make payment arrangements.