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Return a portion of your loan
Return a portion of your loan
Written by Cyndi Myers
Updated over a week ago

If you were awarded a loan for the current academic year, you are able to adjust and/or return the loan by working with the Financial Aid Office.

Loan Adjustments

Before your loan is disbursed in accordance with Westminster’s loan disbursement dates, you should visit your Populi Financial tab to view the loan currently offered to you. At this time, you will be able to change the loan amount. If your loan has already been disbursed, you can return the loan funds or request an additional loan.

Return of Loan Funds

You may return to the government a portion or the full amount of loan funds disbursed to you up to 90 days from the disbursement date of the loan. The returned monies do not accrue interest or incur loan fees if returned within the allotted time, through Westminster.

To return funds, please complete and submit a Loan Return Authorization Form as soon as you are able, and return the funds by check or cash to Westminster. You will be notified by the Financial Aid Office of the date when the funds have been returned to the government.

Change in Enrollment Status

Loan eligibility based on your enrollment status is determined when your loan is disbursed. If you withdraw from classes after this point, you won't be required to return loan funds but your enrollment status will be reported and if you drop below half time, you will go into your 6 month grace period before being required to start paying back your loans. You will be required to complete exit counseling. And withdrawing from classes will affect your completion rate which may cause you to lose future loan eligibility.

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