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Adding and Canceling Funds

You have the right to cancel all or a portion of your federal student loans. A federal loan that has not disbursed yet will incur no interest charges or penalties. However, you may still cancel all or a portion of a loan that has disbursed.  We cannot be responsible for any interest or fees charged by the lender on funds that you wish to cancel after disbursement. Therefore, we encourage you to determine well in advance whether or not you wish to request a loan cancellation. If you choose to cancel your loan after it has disbursed, the cancellation must be received no later than 120 days after the disbursement of your student loan funds to your tuition account as indicated on Please contact Financial Aid if you have questions before deciding to cancel your loans.

You also have the right to change your awarded aid to better fit your needs. For example, if you have been awarded Federal Work-Study, however, cannot or do not want to work, you may cancel your Federal Work-Study award and add the same amount to your loan.

To request additional or cancel existing funding, complete the Financial Aid Change Request and upload the form via the secure document uploader on The deadline to request additional funds in a given year is 2 weeks prior to the end of the quarter or the last day you will be registered at least half-time (200 units).

What if my loan has already disbursed?

If you have already received an overpayment/refund of funds related to the loan you wish to cancel please it is your responsibility to return the funds to the University of Chicago.

If the funds were distributed via ACH deposit you will need to repay to your Student Account. If the funds were issued to you via paper check you may destroy the check or return to the Office of the Bursar.

Please contact the Office of the Bursar for further questions or concerns at 773-702-8000 or

Budget Appeal

You may appeal your financial assistance decision if you believe your original application does not accurately reflect your current financial situation, or if your financial situation has changed substantially since you completed your application. Financial Aid may be able to make allowances for your expenses that exceed the standard cost of attendance. In order to appeal, please complete the Budget Appeal form and upload the form and all supporting documentation as one PDF or word document to Financial Aid Appeal document in the secure document uploader in Learn More

The preferred method to submit either the Aid Change Request or a Budget Appeal is via the upload feature on your account. Learn more

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