You must accept your loans each academic year. You can also reduce your loan amount or decline your loans completely by following these steps:
- Log into One.IU and go to View/Manage My Financial Aid Information.
- Choose your Aid Year.
- Choose the award you wish to accept, reduce, or decline (note that you must check the accept box before you can enter a reduced loan amount).
While you have until August to make any changes to your aid package, if you choose to reduce or decline your federal loans, you can and should do so before they post to your student account.