Loyola University Chicago

Financial Aid Office

Declining or Reducing a Loan

If you don't plan to borrow a Federal Stafford Loan, you can decline these loans by following these steps:

  1. Go to LOCUS.
  2. Log in and choose the "Campus Finances" menu.
  3. Choose "View my financial aid award."
  4. Use the "Accept/Decline" button to show your awards (in the lower right hand corner) and check the "Decline" box next to the loans you wish to decline.
  5. Click the "Submit" button to make the changes to your awards and decline the loans.

* Following these steps will allow you to reduce the amount of any loan as well. Instead of checking the "Decline" box next to the loans, simply write in the amount you wish to borrow in the "Accept" box.