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Financial Aid

2013-2014 Direct Loans

NOTE: **Before submitting a loan application, you must complete your FAFSA and have
all other required paperwork turned into the Financial Aid Office.**

Subsidized Loan Eligibility for First-Time Borrowers
Click for more information

To borrow Subsidized/Unsubsidized loans for periods of enrollment from July 2012 to June 2013, choose the option below that applies to you and follow the instructions.

Loans, unlike grants or work-study, are borrowed money that must be repaid, with interest. You cannot have these loans canceled because you didn't like the education you received or because you're having financial difficulty.

  • The Financial Aid Notification serves as passive confirmation for your student loan. It tells you the new loan dollar amount that will be added to your Master Promissory Note (MPN), that you have agreed to repay.
  • By accepting loan disbursement, you acknowledge understanding and receipt of loan money.

Information you must know about Student Loans:

  1. Enrollment Requirements
    • You must be enrolled in an eligible degree or certificate program and at least half-time, which is 6 credits.
  2. If you have to withdraw or become less than half-time:
    • Your grace period may start on loans you previously borrowed.
    • Payments will be due on old loans that no longer have a grace period or were on "In-School Deferment."
    • No new loans can be certified and no second disbursement released for this period.
    • You may be put on Warning or Suspension for Satisfactory Academic Progress.
    • You will need to complete Exit Counseling at www.studentloans.gov.
  3. You have the right to cancel your student loan at any time.
    • If your loan funds have been disbursed to you, you have within 14 business days to return the funds to the college for a full refund back to the loan program. If you have already received your loan disbursement and it has been more than 14 days, you can send the funds directly back to your DL Servicer.
  4. If you borrow an Unsubsidized Loan:
    • You have the option to work with your loan servicer and either pay the interest as it accrues quarterly or have it capitalized. Capitalized interest is added to your principal loan amount and the next quarter the interest that accrues will be calculated on your principal amount plus the capitalized interest.
  5. Find out information about YOUR loan after it is certified.
    • Access www.studentloans.gov to:
      • Find out who is your loan servicer.
      • Complete Exit Counseling, which is required before you leave SCC.
      • Set up a repayment schedule.
      • Find out how much you have borrowed overall.
      • And do much more.

Spokane Community College
1810 N. Greene St.
Spokane, WA 99217-5399
For general information call:
509-533-7000 or
1-800-248-5644
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Spokane Community College
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