Student Rights and Responsibilities
Satisfactory Progress Policy
The student has read, understands, and agrees to abide by the
Financial Aid Satisfactory Academic Progress Policy in the SPC
General catalogue in order to receive Financial Aid.
Rights and Responsibilities
The student understands that it is their responsibility to provide
copies of all the documents required by the Financial Aid Office.
SPC has the student’s permission to verify any and/or all
information pertinent to their financial aid file. The student also
agrees to release copies of their U.S. or State Tax Returns upon
request. The student understands that such documents will become
the property of SPC and may not be returned.
Awarding Policy
The student authorizes SPC to credit their aid funds for tuition,
fees, books, supplies, room, board and other school charges,
including minor prior award year charges. The student understands
that in order to be eligible to receive funding for a prior
semester, they must have met Satisfactory Academic Progress for
that term. The student also understands that they must be currently
enrolled in order to receive a disbursement for the current
semester, unless they qualify for a post-withdrawal
disbursement.
Disbursement of Aid
The student understands that if they are awarded additional
financial aid after their loan is processed the amount of future
loan disbursements may be reduced. As stated in the student’s
Master Promissory Note, the student authorizes SPC to transfer loan
proceeds by electronic funds transfer (EFT) or master check to
their student account. The dependent student’s parent agrees
that if the parent plus loan exceeds the amount owed SPC, the
remainder of the parent plus loan money will be forwarded to the
student. The student also authorizes SPC to use the loans funds to
pay other school charges for educationally related activities such
as books. The student also authorizes the use of these funds for
minor prior award year charges.
Loan Counseling Requirements
The student applying for a student loan, must complete entrance counseling when applying for loans on the 'Loans By Web (lbw)' site prior to receiving first loan credit and must complete exit counseling upon withdrawal or graduation from SPC. Loans for first time borrowers who have not completed the first year of a program of study at SPC will not be credited to the student’s account until 30 days after the 1st class day. The student understands that all students applying for Stafford Loans must first complete the Free Application for Federal Student Aid and submit all other forms required to complete their financial aid file.
Withdrawing From School
The student understands that if they receive Federal Title IV aid
and they withdraw or cease attendance prior to the 60% point in the
term, they may be required to return up to 50% of the unearned
portion of their Pell/SEOG grant. The student also understands that
grades of “F” will be treated as unofficial withdrawals
for financial aid purposes. The student has 45 days to pay this
debt or make satisfactory repayment arrangements; or they will not
be eligible for further Title IV aid at any institution and the
student’s account will be turned over to the U.S. Department
of Education for collection. The student will also owe the SPC
Business Office for all grant and loan programs affected by this
regulation. The student understands that if they do not pay this
debt in a timely manner that their account will be turned over to a
collection agency; and they will be responsible for collection
fees, late charges and court costs.
Priority Deadlines
The student understands that the South Plains College priority
deadlines for filing for financial aid are as follows:
FALL SEMESTER – JUNE 10TH
SPRING SEMESTER – OCTOBER 15TH
SUMMER TERM – MARCH 1ST
The student understands that their file must be complete by the
above dates to be awarded prior to registration. The student
understands that after processing begins, it may be determined that
additional documents are needed. The student further understands
that their application will be processed on a “first come
– first serve” basis according to the date the last
document was received. The student also understands that the
student will not be awarded any Title IV funds until all requested
documents have been submitted to the Financial Aid Office.If errors
are found on any of the student’s documentation, they may be
asked to provide additional forms. The student understands that
during peak periods, there will be some delay in processing their
file.
The U.S. Department of Education frequently changes regulations
pertaining to financial aid and its delivery. Due to these changes,
the SPC Financial Aid Office reserves the right to make policy and
procedure changes during and between award years.
Release of Information
The student understands and agrees that any and all pertinent
communication between the Financial Aid Office and the student may
be documented in the student’s file.
The student understands their social security number will be requested on forms. It is a unique identification number that is maintained for tracking purposes and for state and federal reporting requirements.
South Plains College does not discriminate on the basis of race,
color, national origin, sex, age, religion, or disability in its
educational programs, activities, or employment policies.
The student authorizes the Financial Aid Office at SPC to release
information concerning their records to federal, state,
institutional, or local organizations/agencies as is necessary for
the administration of their awards. The student understands that it
is their right to inspect their Financial Aid File at any time.