What about returning any extra or unused loan funds?
The CTSFW Financial Aid Office will cancel any unwanted loan funds prior to the day of disbursement if the student notifies the Financial Aid Office in writing or by email. The Financial Aid Office sends a notice at least two weeks before the next loan period payment is made. The student is asked to respond to that notice if he or she wants to change the scheduled loan disbursement amount. Once a loan disbursement has been made to the student’s account, the Financial Aid Office is not obligated to return the funds to the lender, and the student will need to make other arrangements to return unwanted loan funds through his or her own loan servicer(s). Students are often able to return funds to their loan servicer(s) by ACH debit from their checking or savings account. Contact your loan servicer to find out the best method to return unused funds. Loan funds returned before 120 days after disbursement will not have any fees and interest charged. Contact information for loan servicers is found on the StudentAid.gov website. Please contact the Financial Aid Office if you have questions.