Financial Aid

Loans

Student Loans
Federally guaranteed student loans are financial aid. They are low interest loans that must be repaid and are underwritten by the government.
Repayment does not begin until you are finished with your program, drop below half-time, or leave school.

Before we can determine the type and amount of loan you are eligible to receive, you must complete the FAFSA, apply to school, and then take the entrance counseling tutorial and complete the Master Promissory Note at studentloans.gov.

SCC participates in the Federal Direct (subsidized and unsubsidized), and Parent PLUS loan programs. For more information, visit www.ed.gov/DirectLoan.

• Subsidized loans are interest-free while you are attending school and are based on financial need.
• Unsubsidized loans accumulate interest beginning when the money is disbursed. You may choose to pay the interest while you are attending school, or capitalize it back into the loan.
• PLUS loans are loans taken out by the parent on behalf of the student. Your credit rating does not generally affect your ability to receive a subsidized or unsubsidized loan. A parent's credit rating does affect his or her ability to obtain a PLUS loan.
• First-time borrowers who are in the first year of their programs will not normally receive a loan disbursement until 30 days after the start of the quarter.
• Disbursements must be divided. For example, if you borrow $1,000 for fall, winter and spring, you will receive $333.33 each quarter. If you borrow $1,000 for fall only, you will receive $500 initially and the other $500 at mid-quarter.

SCC Title IV Code of Conduct

Spokane Community College participates in the William D. Ford Federal Direct Student Loan Program. The financial aid office will process loans at the students request if eligible through the federal financial aid programs.

The following Code of Conduct is followed:

• Spokane Community College does not have revenue sharing arrangements with any lender. Advisory boards will not receive compensation from a lender.
• Employees in the financial aid office are prohibited from receiving gifts from lenders, guaranty agencies or loan servicers.
• The financial aid office does not contract with any lender and does not receive any staffing assistance from lenders.
• The financial aid office at Spokane Community College will process loans in a timely manner.
• Students will be advised to borrow loans through the federal student loans programs. Private loans will not be packaged or offered from any specific private lender.