MBA Finances

Federal Loans FAQ's

Can I cancel my loan if I change my mind?

Yes.

The federal government stipulates that a borrower has 120 days from the date of disbursement to cancel her/his federal loans without being charged interest or origination fees. If you decide to cancel your federal loan, the university will return the funds and you will be billed for the amount through your CARS account.

If you choose to cancel any of your federal loans, you must email your request to the Haas School's Office of Financial Aid. Your email must contain your complete name and UC Berkeley student indentification number, and must specifically state the exact loan amount and term for which you wish to cancel. For example: "I wish to cancel my Federal Direct Loan of $1,500 for Fall 2006."

The deadlines for requesting cancellation of federal loans follows:

Fall Semester	December 10th
Spring Semester	April 30th