30 Day Hold Loan Information

FALL 2010/SPRING 2011
30 DAY HOLD LOAN INFORMATION

 

Your Direct Student loan for Fall and/or Spring 2010-11 is processed.  The award will be in two equal disbursements per semester (ex: 1st disbursement is ½ the fall award).  Your first loan disbursement will be available after 30 days from the first class day since this is your first Direct Student loan and you have not completed hours in your current program of study.  The 30 day hold is not required for your 1st spring disbursement.  Tuition, fees and other charges for each semester must be paid according to the business office published due dates; therefore, if you do not have aid other than your loan available for fall, you must pay the balance or complete an installment contract for the difference.  You may choose the contract installment option on campus connect.

 

Your fall loan disbursement(s) will credit your business office account via Electronic Funds Transfer (EFT) or Master Check from your lender after 30 days from the first class day.  You must be enrolled in and attending at least six credit hours of class to be eligible for the loan.   One of those classes must be a college level credit class.

 

Your loan credit will not be available to use in the bookstore.  You will receive funds in your bank account if you have a credit balance after tuition, fees, room and board, and all SPC charges are paid in full.  If you did not set up the direct deposit option with the business office, your funds will be available for you to use on your TEXAN ID card.  If your lender sends your loan funds later than our request date, your funds will be available in a future funds transfer date.  The Department of Education must have a signed Master Promissory Note from you before sending a loan disbursement.  Contact the Financial Aid Office if you are unsure

 

Fall 2010 Student 30 Day Hold Loan and Spring 2011 Dates

1st Fall       disbursement

 

2nd Fall disbursement

 

1st Spring disbursement

 

2nd Spring disbursement

Texas Card date

Direct Deposit dates

 

Texas Card date

Direct Deposit dates

 

Texas Card  date

Direct Deposit dates

 

Texas Card  date

Direct Deposit  dates

 

 

 

 

 

 

 

 

 

 

 

 

 10/02/10

 

 10/04/10 or 10/05/10

 

 10/30/10

 11/01/10 or 11/02/10

 

 01/15/10

 01/18/10 or 01/19/10

 

 03/26/10

 03/28/10 or 03/29/10


 

Spring 2011 Only Student 30 Day Hold Loan Dates

 

 1st Spring disbursement

 

2nd Spring disbursement

Texas Card  date

Direct Deposit dates

 

Texas Card  date

Direct Deposit  dates

      

 

 

 

 

  

 02/26/10

  

 02/28/10 or 03/01/10

 

 03/26/10

 03/28 or 03/29/10

 

If you wish to decline your loan, select “decline” on your electronic award letter or send a cancellation request by e-mail to finaid@southplainscollege.edu.  If you wish to cancel your loan after disbursement, you may return the loan funds to the financial aid office.

 

If you wish to reduce your loan, call the financial aid office at (806) 894-9611, ext. 3800, e-mail finaid@southplainscollege.edu, or come by the financial aid office at the Levelland or Reese campus.

 


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