Student Loans

Reduce your debt by reducing your loan amount

Once you see your account charges or get your financial aid payment, you might decide you don't need to borrow that much money. You can minimize your loan debt by reducing your loan or canceling it completely.

You may use the Direct Loan Change Request Form or the Parent PLUS Loan Change Request Form to request a change to a federal loan only if you are the borrower. For example, a parent may not adjust a Federal Direct Student Loan on which their student is listed as the borrower. If you are not the borrower, your request will be denied.

Unsubsidized loans will be reduced or canceled before subsidized loans. Any refunds you've already received may need to be returned. If the cancellation or reduction leaves an outstanding balance in your student account, you must use personal funds to pay the balance in full immediately.  Failing to do so will result in late payment fees and other institutional penalties.

How to cancel or reduce your loans

• You'll receive an email stating your right to cancel or reduce your loans. If your parent borrowed a Direct Parent PLUS Loan, they will get a message as well.
• Be sure to read the important information below before you complete the form. If you don't want to cancel or reduce your loan, just ignore the message.
• Be sure to reduce or decline your loans before they post to your student account.  If you get a refund before we receive your loan adjustment request, we'll let you know how much you need to repay to WSC and you will need to make payment immediately following the adjustment. Your student account will then have a balance due.