Financial Aid

Quality, Affordability, Value

11/12 Federal Direct Loan Change Form

The Federal Stafford Loan program is now the Federal Direct Loan program.

Please only use this form if you have a Federal Direct Subsidized or Federal Direct Unsubsidized Loan on your Award Letter, and you wish to change the amount you wish to borrow.

There are three options on this form:

Option 1: Decline/cancel all loan(s) offered to you.
Option 2: Reduce the amount of subsidized/unsubsidized loan(s) offered to you.
Option 3: Re-request any portion of your subsidized/unsubsidized loan(s) you have previously declined.

Please note: Unless you are declining all Federal Direct Loan(s) on your Award Letter, if you did not borrow Federal Direct Loan(s) at B-W at any time in the past (e.g. you borrowed through a lender instead of the Department of Education Direct Loan Program), you must still complete Entrance Counseling and sign an electronic Master Promissory Note (MPN) in order for your funds to be disbursed to your B-W Student Account with the Bursar's Office. These requirements can be completed online.

We recommend you complete the online counseling and electronic MPN by July 15th for the Fall 2011 semester. Summer 2011 students should complete by May 1st; Spring 2012 students should complete by December 1st. The Financial Aid Office cannot guarantee Federal Direct Loan funds will be disbursed to your student account by the semester payment deadlines set forth by the Bursar's Office if requirements are fulfilled after these dates.

If you would like us to process the full amounts listed on your Award Letter,
you do not need to use this form.

* Required information

B-W Student ID #:

Last name:

First name:

Option 1:

I wish to cancel loans for the following term/s:

Option 2:

Please choose which term(s) you want your loans reduced:

I wish to reduce the Subsidized portion to:

I wish to reduce the Unsubsidized portion to:

Option 3: I have previously declined the following loans and would now like to take the following action:

Reinstate the following amount of my subsidized loan:

Reinstate the following amount of my unsubsidized loan:

OPTIONAL: If the options above do not apply, describe the action you wish the Financial Aid Office to take in the box below:

Please note: Federal loans must be distributed equally over your terms of enrollment. For instance, if you are enrolled in fall and spring, the amounts you request will be divided by two. Please make your adjustments with this in mind. (If you are making adjustments mid-year, please note that your actual loan distribution may vary.)

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