Schedule of Reductions (SOR)
Beginning with the 2026–27 academic year, the federal Schedule of Reductions (SOR) may reduce a student’s federal Direct Loan eligibility when the student enrolls less than full time in courses that apply toward their degree program.
Before changing your schedule: Talk with your academic advisor about how a course applies toward your program, and contact the Office of Financial Aid to understand how the change could affect your aid.
What You Need to Know
Undergraduate Students
A full-time academic year is 24 CPoS credits across the fall and spring semesters. Undergraduate students must be enrolled in at least 6 CPoS credits for a federal Direct Loan to disburse.
Graduate Students
A full-time academic year is 12 CPoS credits across the fall and spring semesters. Graduate students must be enrolled in at least 3 CPoS credits for a federal Direct Loan to disburse.
Loans Affected
SOR applies to Direct Subsidized Loans, Direct Unsubsidized Loans, Graduate Direct Unsubsidized Loans and Graduate PLUS Loans for students eligible under the federal legacy provision.
Federal Direct Parent PLUS Loans are not subject to SOR.
Who May Be Affected?
SOR may affect undergraduate and graduate students who borrow federal Direct Loans and:
- Enroll less than full-time in CPoS-applicable credits;
- Enroll in courses that do not apply toward their declared degree program; or
- Drop or withdraw from a fall course after their loan has disbursed, which may affect the amount of their spring loan.
What Are CPoS Credits?
Course Program of Study, or CPoS, credits are courses that apply toward the requirements of your declared degree program. Courses that do not apply toward your program generally cannot be included when determining your federal student loan eligibility.
If you are unsure whether a course applies toward your program, contact your academic advisor.
How SOR Works at UNC
1. UNC Reviews Your CPoS Enrollment
Your CPoS enrollment is reviewed when your federal student loan is ready to disburse.
2. Your Annual Loan Limit Is Calculated
If you are enrolled less than full-time, your maximum annual federal student loan limit is reduced proportionally based on your CPoS enrollment.
3. Your Spring Eligibility Is Reevaluated
Before the spring disbursement, UNC reviews the fall CPoS credits in which you remained enrolled and your current spring CPOS registration.
How Your Loan Amount Is Determined
Federal student loans are initially offered based on full-time CPoS enrollment and are generally divided equally between the fall and spring semesters. You may accept all or part of the offered loan amount.
If you are enrolled less than full-time, your reduced annual loan limit is calculated using the maximum annual loan limit for which you are eligible. The amount disbursed cannot exceed either the amount you accepted or your reduced annual loan limit, whichever is less.
Fall Loan Disbursement
If you are enrolled in at least 12 undergraduate CPoS credits or 6 graduate CPoS credits when your fall loan disburses, you will receive your scheduled fall loan amount.
If you are enrolled below those levels, your annual federal student loan limit will be reduced proportionally based on your CPoS enrollment at the time of disbursement.
For the 2026–27 academic year, fall aid disbursement begins August 20, 2026, and ends December 11, 2026.
Spring Loan Disbursement
Before your spring loan disburses, UNC will review the fall CPoS courses in which you remained enrolled through the end of the course and your current spring CPoS registration.
Fall courses count if you remained enrolled through the end of the course, including courses with an F, I or U grade. Courses you dropped or withdrew from do not count.
If your combined fall and spring enrollment is fewer than 24 undergraduate CPoS credits or 12 graduate CPoS credits, your spring loan may be reduced.
For the 2026–27 academic year, spring aid disbursement begins January 6, 2027, and ends May 8, 2027.
Enrollment Examples
These examples illustrate how common enrollment changes may affect federal student loan eligibility. The same general scenarios may apply to undergraduate and graduate students using the applicable annual full-time CPoS requirement.
Fall: The student is enrolled in 12 CPoS credits when the fall loan disburses, so the scheduled fall loan amount is paid.
After disbursement, the student drops or withdraws from a 3 credit course. The fall loan is not adjusted under SOR because the enrollment change occurred after disbursement.
Spring: The student is registered for 12 CPoS credits, bringing the student’s academic-year enrollment to 21 CPoS credits: 9 fall credits plus 12 spring credits.
Because the student is no longer expected to complete the 24 CPoS credits required for a full-time undergraduate academic year, the spring loan will be reduced under SOR.
Summer: If the student enrolls in at least 6 eligible CPoS credits, the student may be able to receive remaining annual loan eligibility, subject to all other federal loan eligibility and disbursement requirements.
Fall: The student is enrolled in 9 CPoS credits when the fall loan disburses. Because the student is enrolled less than full-time, the student is eligible to receive only approximately three-fourths of the originally scheduled fall loan disbursement.
The student’s reduced annual loan limit is based on 38% enrollment:
9 ÷ 24 = 37.5%, rounded to 38%
The student makes no additional changes and remains enrolled in all 9 fall CPOS credits.
Spring: The student registers for 15 CPoS credits, bringing the student’s total academic-year enrollment to 24 CPoS credits: 9 fall credits plus 15 spring credits.
Because the student’s total academic-year enrollment is now full-time, the spring loan may be increased so the student can receive the remainder of the full annual loan eligibility.
Fall: The student is enrolled in 3 CPoS credits when the fall loan disburses. Because the student is enrolled half-time, the student is eligible to receive only half of the originally scheduled fall loan disbursement.
The student’s reduced annual loan limit is based on 25% enrollment:
3 ÷ 12 = 25%
After the loan disburses, the student adds another 3 CPoS credits. The fall loan is not increased because the additional course was added after disbursement.
Spring: The student completed 6 CPoS credits in the fall and is registered for 6 CPoS credits in the spring, bringing the student’s total academic-year enrollment to 12 CPoS credits.
Because the student’s total academic-year enrollment is now full-time, the spring loan may be increased so the student can receive the remainder of the full annual loan eligibility.
Fall: The student is enrolled in 3 CPoS credits when the fall loan disburses. Because the student is enrolled half-time, the student is eligible to receive only half of the originally scheduled fall loan disbursement.
The student’s reduced annual loan limit is based on 25% enrollment:
3 ÷ 12 = 25%
After disbursement, the student adds another 3 CPoS credits. The fall loan is not increased because the additional course was added after disbursement.
Spring: The student completed 6 CPoS credits in the fall and is enrolled in 3 CPoS credits when the spring loan disburses. The student’s combined fall and spring enrollment is 9 CPOS credits, supporting 75% of the annual loan limit:
9 ÷ 12 = 75%
Because the student received 25% of the annual loan eligibility in the fall, the student may receive an additional 50% in the spring. This is equal to the full originally scheduled spring loan disbursement.
Summer: If the student enrolls in at least 3 eligible CPoS credits, the student may be able to receive the remaining 25% of the annual loan eligibility, subject to all other federal loan eligibility and disbursement requirements.
Schedule of Reductions Frequently Asked Questions
Review answers to common questions about SOR, CPoS enrollment and federal student loan disbursement.
The Schedule of Reductions, commonly called SOR, is a federal requirement that adjusts a student’s federal Direct Student Loan eligibility when the student enrolls less than full time.
The adjustment is based on the number of Course Program of Study (CPoS) credits in which the student is enrolled compared with the full-time enrollment requirement for the academic year.
SOR takes effect beginning with the 2026–27 academic year.
Course Program of Study, or CPoS, credits are courses that apply toward the requirements of a student’s declared degree program.
Students should review their schedules with their academic advisors if they are unsure whether a course applies toward their degree program.
For an academic year consisting of the fall and spring semesters, full-time enrollment for SOR is:
- Undergraduate students: 24 CPoS credits
- Graduate students: 12 CPoS credits
SOR uses the student’s CPoS-applicable enrollment for the academic year, not simply the total number of credits appearing on the student’s schedule.
SOR compares a student’s eligible CPoS credits with the number of credits required for a full-time academic year.
For undergraduate students:
Eligible CPoS credits ÷ 24 = SOR percentage
For graduate students:
Eligible CPoS credits ÷ 12 = SOR percentage
The percentage is applied to the maximum annual loan limit for which the student is eligible. The amount disbursed cannot exceed either the amount accepted by the student or the reduced annual loan limit, whichever is less.
SOR applies to:
- Direct Subsidized Loans;
- Direct Unsubsidized Loans;
- Graduate Direct Unsubsidized Loans; and
- Graduate PLUS Loans for students who remain eligible under the federal legacy provision.
Federal Direct Parent PLUS Loans are not subject to SOR.
Yes. There is no legacy exception to SOR. Graduate students who remain eligible for Graduate PLUS Loans under the federal legacy provision are still subject to the Schedule of Reductions.
Yes. SOR does not change the half-time enrollment requirement for federal student loans.
At the time of disbursement:
- Undergraduate students must be enrolled in at least 6 CPoS credits.
- Graduate students must be enrolled in at least 3 CPoS credits.
UNC will calculate SOR when a federal student loan is ready to disburse.
The fall calculation will be based on the student’s CPoS enrollment at the time of fall disbursement. Before spring disbursement, UNC will review the fall CPoS courses in which the student remained enrolled and the student’s current spring CPoS registration.
UNC will not continuously recalculate SOR throughout the fall semester. However, dropping or withdrawing from a fall course may reduce the amount of the student’s spring loan.
Other financial aid rules, including federal withdrawal requirements, may still require an adjustment to current-semester aid.
Students should contact the Office of Financial Aid before dropping or withdrawing from a course to understand the possible financial impact.
A fall course counts if the student remained enrolled through the end of the course. This includes courses with an F, I or S/U grade.
Courses the student dropped or withdrew from do not count.
Possibly. Because the spring SOR calculation considers CPoS enrollment across the fall and spring semesters, additional spring CPoS credits may offset fewer fall credits.
For example, an undergraduate student who remains enrolled in 9 fall CPoS credits and registers for 15 spring CPoS credits will have 24 CPoS credits for the academic year.
Possibly. If a student received a reduced fall loan because of part-time enrollment and later enrolls in additional spring CPoS credits, the student may be eligible for an increased spring loan disbursement.
Students should review their financial aid information in MyUNC and contact the Office of Financial Aid if they have questions about their eligibility.
Students graduating at the end of the fall semester and not attending for the full academic year may be subject to a separate single-term loan-proration calculation.
The Office of Financial Aid will determine the applicable calculation based on the student’s enrollment and expected graduation date.
A student who begins their program in the spring and attends only the spring semester will have their SOR eligibility calculated using the full-time enrollment requirement for one semester.
Summer is an optional term at UNC. Any summer loan offered is limited to the student’s remaining annual loan eligibility after the fall and spring semesters.
SOR may apply to summer enrollment, but summer credits are not added to the annual full-time benchmark. Undergraduate students must be enrolled in at least 6 summer CPoS credits, and graduate students must be enrolled in at least 3 summer CPoS credits, for a federal Direct Loan to disburse.
No. UNC cannot delay an otherwise scheduled disbursement solely to allow a student additional time to enroll in another course.
Students should finalize their CPoS-applicable enrollment before completing the requirements for scheduled loan disbursement whenever possible.
Your federal student loan is ready to disburse when the scheduled disbursement date has arrived and you have completed all applicable requirements, including:
- Having a valid FAFSA on file;
- Reviewing your financial aid offer and accepting your federal student loan;
- Completing entrance counseling;
- Having a valid Master Promissory Note on file;
- Enrolling in the minimum number of eligible CPoS credits—at least 6 for undergraduate students or 3 for graduate students;
- Meeting Satisfactory Academic Progress requirements; and
- Resolving any outstanding financial aid requirements or holds that prevent disbursement.
SOR is calculated using your CPoS enrollment on the date your loan is ready to disburse. Completing these requirements later may result in your loan being calculated using your enrollment on that later date.
No. UNC must calculate loan eligibility using the student’s CPoS-applicable enrollment at the time of disbursement. UNC cannot disburse a loan early to avoid an SOR adjustment.
No. SOR is a federal requirement, and the resulting reduction cannot be appealed.
Students should contact the Office of Financial Aid and/or their academic advisor if they believe their enrollment or CPoS information is incorrect.
SOR applies only to applicable federal Direct Student Loans. It does not directly reduce institutional scholarships, state financial aid or other institutional grants.
Pell Grants may also be adjusted or recalculated based on a student’s enrollment activity. Pell Grant recalculation is separate from SOR and is not a new requirement.
Other financial aid rules may still require adjustments based on enrollment, CPoS eligibility, withdrawal, cost of attendance or other eligibility requirements.
Before adding, dropping or withdrawing from a course:
- Ask your academic advisor whether the course applies toward your degree program;
- Review how the change will affect your total fall and spring CPoS credits;
- Consider whether the change could reduce a future loan disbursement; and
- Contact the Office of Financial Aid with questions about the potential financial impact.
Students should review their financial aid offer and student account in MyUNC. If a loan changes, the updated amount will appear in the student’s account.
Because each student’s enrollment and loan eligibility are different, an individual review may be necessary.
Students who have questions about SOR or how an enrollment change may affect their federal student loans should contact the UNC Office of Financial Aid.
Questions About How Enrollment May Affect Your Aid?
Because each student’s enrollment and loan eligibility are different, an individual review may be helpful. Schedule an appointment with a financial aid counselor before changing your enrollment if you have questions about how the change may affect your aid.
Office of Financial Aid
We help students understand and access financial aid options — from scholarships and grants to student loans. With more than 90% of UNC students receiving aid, our team supports you every step of the way, from completing your first FAFSA to planning your budget after graduation.
- ofa@unco.edu
- 970-351-4862
- Bear Central in Campus Commons