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.
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.
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.