Loan Cancellation Policy

The Financial Aid Office uses an active confirmation process for all students. Students are required to use Financial Aid Self-Service to reduce or decline previously awarded loans.

New students or first time borrowers should accept and activate their loans by the priority deadline, if possible. If not, the loans will be cancelled 30 days after the semester has started. If the student is awarded later, the loans will be cancelled 30 days after awarding if the steps have not been completed. The student will be notified via email that the loan was cancelled.

Reinstating Loans

To reinstate the Direct Subsidized/Unsubsidized or PLUS loans, the student and/or parent will need to complete the action steps and submit a Loan Change Form to request that the loan be reinstated. The action steps for each loan are listed in the loans section.

Quick Links:

Application Process

Financial Aid Process

Maintaining Aid

Scholarships and Grants

Loans

Forms and Publications

Federal Work Study

Managing Your Money

Frequently Asked Questions (FAQ)

Financial Aid Terminology

 

Contact Us:

Financial Aid Office
Elderdice Hall
Hours: M-F  8:30-4:30pm
Phone: 410-857-2233
Fax: 410-386-4608
Email: finaid@mcdaniel.edu
School Code: 002109