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Act On Your Loans

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Please follow the instructions below to accept, reduce or decline each type of loan you have been offered. You can always accept a lesser amount of your loans up to the time of your first disbursement. If you accepted a lesser amount and would like it increased again, please notify Financial Aid and Scholarship Services in writing. If you decide to reinstate a declined loan, please notify Financial Aid and Scholarship Services in writing with the amount you would like to accept.

NOTE: Please be aware that the loan amount you choose to accept will be evenly divided into two disbursements, one in the fall term and one in the spring term.

Before borrowing, it is important to consider that loans must be repaid. Use this loan payment calculator to investigate how much your monthly payment may be if you decide to borrow loans.

Last Day to Accept Loans

The last day you can accept your student/parent loan for each term you are attending is listed on the Financial Aid Calendar. If you need your loans to pay your ASU charges, you must accept them at least a month before the first day of class. Please see the academic calendar for class starting dates.

How To Accept or Decline Your Loan

Loan Program How to Accept/Reduce How to Decline
Federal Direct Stafford Loans
(subsidized and unsubsidized)
  1. Sign in to My ASU, view your financial aid and accept an amount; avoid borrowing more than you need. FinAid.org has loan calculators that may help in deciding how much to borrow. Any loan amount accepted will be evenly divided into two disbursements, one in the fall term and one in the spring term.
  2. Complete a master promissory note.
  3. Complete loan entrance counseling.
 Sign in to My ASU to view your financial aid and you will have the option to decline your loans.
    Federal Perkins Loans
    1. Sign in to My ASU, view your financial aid and accept an amount; avoid borrowing more than you need. FinAid.org has loan calculators that may help in deciding how much to borrow.
    2. Complete a master promissory note.
    3. Complete loan entrance counseling.
    		 Sign in to My ASU to view your financial aid and you will have the option to decline your loans.
      Federal Direct Parent PLUS Loans There are additional steps that you and your parent must complete to accept this loan. See complete details on how to accept your Federal Direct Parent PLUS loan. Sign in to My ASU to view your financial aid and you will have the option to decline your loans. Declining the Federal Direct Parent PLUS Loan is not considered being denied the loan. In order to be denied, you and your parents must accept the loan actually be denied by the U.S. Dept. of Education.
        Federal Direct PLUS Loans for Graduate and Professional Students
        1. Sign in to My ASU, view your financial aid and accept an amount, which will initiate a credit check and automatically submit a loan application to the Dept. of Education. Avoid borrowing more than you need. FinAid.org has loan calculators that may help in deciding how much to borrow.
        2. Complete a master promissory note.
        		 Sign in to My ASU to view your financial aid and you will have the option to decline your loans.
          Private Education Loans
          (alternative loans) 
          1. Your loan will be posted & accepted once Student Financial Assistance has certified your loan. See complete details on how to apply for a private education loan.
          2. The Private Education Loan Applicant Self-Certification form must be completed by the student and submitted to the lender before disbursement can occur.
            		 Notify Student Financial Assistance at the Tempe campus in writing that you would like to cancel your private student loan as well as speak with your lender.

               

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