2020-21 Federal Direct Loan Change Form
(for enrollment during Summer 2020, Fall 2020, and Spring 2021)
Student Name:
Expected Year:GRADUATION: Expected Month:
BW Student ID:
Section A. 2020-21 Federal Direct Loan Change Modifications
I acknowledge that if I request more than I’m eligible for my request will be reduced on my behalf.
Type or sign name: Date:
This is not the date you "walk" through the ceremony. This date
should be when you will complete graduation requirements.
Office of Financial Aid w 275 Eastland Road w Berea, OH 44017 w Phone: 440-826-2108 w Fax: 440-826-8048 w Email: finaid@bw.edu
Summer 2020
I would like to cancel my Subsidized Loan for the entire 2020-21 academic year
Increase To: $
Subsidized (Sub) Loan: This loan does not accrue interest while the student is enrolled at least "half-time"
Please submit this form once you are certain of the amount of direct loan funds you wish to receive for the entire 2020-21 academic year.
Note:
- Due to federal processing timelines, the requested changes may result in a temporary or permanent balance to show on
your student account. Please allow 2-3 business days after processing for your semester balance to reflect the changes.
- The U.S. Dept. of Education has a processing fee of 1.066%, this is automatically deducted at time of disbursement
- Federal Direct Student Loans are divided equally by the eligible terms of enrollment for the academic year
- The FAO can return declined loan funds to your lender within 120 days of the disbursement date. After 120 days, our office
cannot return funds on your behalf.
If you would like to revise your Subsidized Loan, rather than cancel, please identify the terms and specify the amounts below:
Decrease To: $
Fall 2020
Increase To: $
Decrease To: $
Spring 2021
Increase To: $
Decrease To: $
Summer 2020
I would like to cancel my Unsubsidized Loan for the entire 2020-21 academic year
Increase To: $
Unsubsidized (Unsub) Loan: Like most loans, this loan accrues interest starting with the student's first disbursement
If you would like to revise your Unsubsidized Loan, rather than cancel, please identify the terms and specify the amounts below:
Decrease To: $
Fall 2020
Increase To: $
Decrease To: $
Spring 2021
Increase To: $
Decrease To: $
Parent Name (First & Last):
Parent Date of Birth (mm/dd/yyyy):
Last Two Digits of Parent SSN: XXX-XX-XX
Section B. 2020-21 Additional Unsubsidized Requested Due to Parent PLUS Denial
Student's whose parent/s have applied for a parent PLUS loan but have been denied, may be eligible for additional Unsub Loans
My parent (listed below) has been denied for a 2020-21 federal PLUS loan and will not be appealing the decision.
Freshman (Up to $4,000 in Unsub)
The following amounts are the potential increases in Unsub loans based on a student's grade level:
Sophomore (Up to $4,000 in Unsub)
Junior (Up to $5,000 in Unsub) Senior (Up to $5,000 in Unsub)
I would like to request an amount less than my full eligibility, please increase my Unsub loan by only: $
