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Notice of Disbursement and Right to Cancel a Federal Stafford, Perkins, or PLUS loan

Federal student and parent loan funds may begin crediting to student accounts beginning the second week of each term. If your loan is not disbursed during the second week, funds are received and credited on a weekly basis thereafter. Specific loan disbursement amounts and dates of credit to your student account may be viewed via the Columbia College Student Account Suite. To access the Account Suite, log in onto CougarTrack, then select "ePayments and eBill Access".

As a student or parent borrower, you have the right to cancel the entire loan or any portion (a specific disbursement) of any federal Stafford, Perkins or PLUS loan. Requests to cancel a specific loan disbursement may be submitted prior to the date of crediting to your account or within 14 days of notification. To request cancellation of a loan disbursement, please complete a Financial Aid Cancellation Form form.

If a disbursement has already credited to your account then you may only request to cancel that disbursement if a refund has not been generated. Please note that you can request to cancel future disbursements.

If a refund has not been generated you must request to cancel the disbursements within 14 days of notification that the funds disbursed to your account.

If a refund has been generated you must repay the funds to the Department of Education. For information on repayment visit repaying student loans.