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
|
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2nd Fall disbursement
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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
|
|
|
|
|
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|
|
|
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10/02/10
|
10/04/10 or
10/05/10
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10/30/10
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11/01/10 or 11/02/10
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01/15/10
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01/18/10 or
01/19/10
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03/26/10
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03/28/10 or
03/29/10
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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
|
|
|
|
|
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02/26/10
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02/28/10 or
03/01/10
|
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03/26/10
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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.