You may find that you over budgeted and need to reduce your loans and return some of your funds after you receive your loan disbursement. You can return funds within the first 2 weeks after you receive your loan disbursement by completing a Loan Revision Request Form located on TouroOne and sending it to tuc.finaid@touro.edu. This is the best option because we will return the funds directly to the U.S. Department of Education and it will be like that portion of the loan never happened. This will:
1) Save you interest,
2) Save you from being charged origination fees on the portion you return, and
3) These funds will be available for you to access throughout the academic year if you find you have an emergency or are running short on funds.
If you discover you have borrowed too much for the semester and the 2 weeks has passed, email tuc.finaid@touro.edu and we will advise you on your options and help you determine if your future disbursements should be reduced to avoid you having excess funds that you do not need each semester.
Increasing Your Loans:
You may find that the budget you worked out was a little tight and you are running short on funds at the end of a semester. In this case, if you did not accept the maximum loans you were originally offered at the beginning of the year, you may have the option to ask for additional funds.
Check TouroOne to see if you have remaining eligibility. See the TouroOne Tip Sheet on our FAQ page for details on where to find the information.
Loan increases usually take 3 - 4 weeks to process from the time you make your request to the time the Bursar's Office deposits funds into your bank via direct deposit or provided to you as a check. Be sure to plan accordingly.