FAQ: Canceling Loans in COD

Here is another question that our team is often asked.

Question: How are Direct Loans canceled in the COD process?

Answer: Loans are not considered “canceled” in the COD process. When a school reduces the loan amount to zero, the loan becomes inactive. The school can reactivate the loan at any time. When the school reactivates the loan, the school may also change the amount, dates, grade level, and any other field deemed necessary.

If you would like to view all of the questions answered to date, please choose “FAQ”  in the Category section found on the right-hand side of the blog webpage.

If  your school has other questions we can answer, please click the “Contact” link found on the homepage of www.nelnetloanservicing.com.