How do I adjust my loan amount?

• Log into the SFS Self-Service Portal
• Under the Financial Aid navigation menu select “Budget & Eligibility”
• Scroll to the bottom of the page to view the section “Options for Meeting Your Cost of Attendance”
• Review your “Remaining Optional Borrowing” amounts, paying careful attention to your LIPP eligible borrowing amount if you are interested in a public interest position after graduation
• The maximum additional amount that you may apply for is the figure you see in the total “Remaining Optional Borrowing”

• If you have remaining borrowing eligibility for the year, you now need to select your lender
• Log into the SFS Self-Service Portal
• Under the Financial Aid navigation menu select “Budget & Eligibility”
• Review your “Your Eligibility Details” to see which lenders you are currently utilizing for any student loan already secured
• Review the Student Loans webpage to navigate to the appropriate Preferred Lender List so that you can choose your lender
• Once you have chosen your lender, apply directly with that lender

SFS is unable to recommend any particular program, but has developed a webpage to help answer frequently asked questions: How do I choose a loan program?

You’ll want to keep within your LIPP eligible borrowing limit which you can find on your Budget & Eligibility screen in the SFS Portal. Borrowing done to replace non-protected assets and any student resources from income is ineligible for LIPP assistance.  If you find you need to borrow beyond your LIPP eligible amount, you may want to understand how much that means in an additional monthly payment amount for you.  Use one of our calculators or make an appointment with a member of the LIPP staff.

The Adjustment Form allows you to enter the loan program you want to change as well as the amount you’d like returned. You will need to submit the form separately for each type of loan that you would like to decrease or cancel.

To request an adjustment, use the following instructions:

• Log into the SFS Self-Service Portal
• Under the Financial Aid navigation menu select Adjustment Request
• Start a New Adjustment
• For Adjustment Category select “Request, Report, or Decrease Funding”
• For Adjustment Reason select “Decrease/Cancel an Existing Loan”
• Complete the remainder of the form and then hit “Submit”

• Log into your Student Accounts portal
• For the semester in which you are requesting your adjustment, look for a line item showing “Refund” or “Refund – Direct Deposit”
• Finding that line item means that HLS has advanced or refunded funds to you based on your financial aid eligibility and when you request a loan reduction or cancellation you will need to make a payment back to your student account
• Determine this amount and make a payment to your account simultaneously with submitting the Adjustment form detailed in the next section

Keep in mind that once a disbursement is made there is a limited amount of time that funds can be returned without paying the fee and interest on the portion you are returning. Generally, both federal loans and private loans have a window of time in which you will not be charged fees (if applicable) or interest on the portion you return.

Most lenders’ policy is that funds can be returned, via the school, as follows:

• Federal Direct Unsubsidized and GradPLUS loans have a deadline of the earlier of either 90 days from the date of disbursement or the semester’s deadline (which is December 1, 2024 for fall semester disbursements or April 15, 2025 for spring semester disbursements).
• Harvard FCU loans have a deadline of the earlier of either 60 days from the date of disbursement or the semester’s deadline (which is December 1, 2024 for fall semester disbursements or April 15, 2025 for spring semester disbursements).
• College Ave loans have a deadline of the earlier of either 90 days from the date of disbursement or the semester’s deadline (which is December 1, 2024 for fall semester disbursements or April 15, 2025 for spring semester disbursements).
• Once the academic year has ended (the final day of classes), the school is unable to make any changes to that year’s student loans (regardless of lender).

If during the spring semester, a student would like to cancel a loan from both the fall and spring semesters, they should speak with a member of our staff to understand the fee and interest amounts that will need to be paid for the fall semester loan.