Financial Aid Adjustments

NEW - Important Loan Process – Take Action Now!

Accepting Federal Direct Loans

If your loan is in the Offered status, you need to take action as to whether you want to accept, reduce, or decline this loan offer. 

Steps to take:

  • Log in to MyIUP.
  • Go to Finances; then
  • Financial Aid;
  • Aid Offer;
  • Scroll to Loans. 
  • Make your selection.

Auto Accept: If you do not take action by the first day of the fall term, we will assume you wish to accept the loan and will do so on your behalf. 

Funds will not disburse to your student account unless you have completed the Master Promissory Note and Entrance Counseling at StudentAid.gov as a first-time borrower. 

Reinstating Federal Direct Loans

If you need to reinstate aid, you should email the Financial Aid Office at financial-aid@iup.edu with the following information:

  • Name
  • Banner ID
  • Term you are adjusting aid
  • Type of aid
  • Amount you'd like. If no amount is listed, we will reinstate the maximum.

 

Reducing or Declining Federal Direct Loans

Offered status

If you wish to reduce or decline your Federal Direct Loans, you can do so by logging in to MyIUP. You must use your IUP network username and password to log in to MyIUP.

If your loan is in the offered status, below are the steps to take to make the adjustment.

  • Log in to MyIUP.
  • Go to Finances; then
  • Financial Aid;
  • Aid Offer;
  • Scroll to Loans. 
  • Make your selection.

Auto Accept: If you do not take action by the first day of the fall term, we will assume you wish to accept the loan and will do so on your behalf. 

Funds will not disburse to your student account unless you have completed the Master Promissory Note and Entrance Counseling at StudentAid.gov as a first-time borrower. 

Accepted status

If you wish to reduce or decline your Federal Direct Loans that are in the accepted status, please email our office at financial-aid@iup.edu with the following information:

  • Name
  • Banner ID
  • Term/year you are adjusting aid
  • Type of aid 
  • Amount you'd like it reduced to

Or, you can complete the Financial Aid Adjustment Form and return it to our office.

You have until September to decline or reduce your loan for the academic year using MyIUP. After this date, you can still make adjustments by emailing our office with the information above.

Reducing or Declining Federal Work-Study Funds

The Federal Work-Study Program enables you to work on campus and in some community agencies. If your aid offer indicates that you are eligible for Federal Work-Study, you'll need to seek employment and find a work-study job or eligible community job to get these funds. Many campus jobs require Federal Work-Study. Visit IUP's Student Employment page to find job opportunities.

If you do not wish to find a job through the program or want to reduce the amount awarded, please indicate that on your electronic financial aid offer in MyIUP by September, or send an email to financial-aid@iup.edu to make that adjustment on your aid package.