Loan Information

FALL 2010/SPRING 2011
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 loan disbursement(s) will credit your business office account via Electronic Funds Transfer (EFT) the Department of Education.  You must be enrolled in and attending at least 6 credit hours of class to be eligible for the loan.  At least one of those classes must be a college level credit course.

If your 1st loan disbursement of the semester, example:1/2 of fall award (see award letter), does not pay your business office account in full and you have no other financial aid to pay the difference, you must pay the balance or complete an installment contract for the difference.  You may choose the contract installment option on campus connect.

If you drop to less than 6 credit hours before the official census date, your loan will be canceled and the 1st disbursement will be returned to the lender.  If you have already received the loan disbursement, you will owe the loan funds back to SPC immediately.

Your loan credit will not be available to use in the bookstore.  You will receive a deposit to your bank account or to your TEXAN card 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 deposited into your TEXAN card account.  If the Deapartment of Education sends your loan funds later than our request date, your funds will be in a future disbursement date.  The Department of Education must have a signed Master Promissory Note from you before they will send a loan disbursement.  Contact the Financial Aid Office if you are unsure.

1st Fall disbursement

 

 

2nd Fall disbursement

 

1st Spring disbursement

 

2nd Spring disbursement

Texan Card  date Direct Deposit  dates   Texan Card  date Direct Deposit dates   Texan Card  date Direct Deposit dates   Texan Card  date Direct Deposit dates
                     
08/28/10 08/30/10 or 08/31/10   10/30/10 11/01/10 or 11/02/10    01/16/10

 01/19/10 or 01/20/10

   03/27/10  03/29/10 or 03/30/10
                     


 

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 a disbursement, you may contact 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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