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.
- In the Financials menu choose Accept/Decline Awards
- Choose your Financial Aid Year
- Find the award you wish accept, reduce, or decline
- In the Action field, choose Accept or Decline
- Note that you must choose to Accept an award before you are able to reduce the 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.