Financial aid files must be completed at least three weeks prior to your fee payment due date for you to use your award toward payment of your tuition and books. If your file is incomplete by your fee payment due date, you must cover the cost of tuition and books. You will be reimbursed to the extent of your eligibility.

STEP 1: Eligibility Requirements

1. All first-year, first-time undergraduate students, including transfer students from other institutions, may not be eligible to receive a Stafford Loan the first term they are enrolled at SFCC. Once you are accepted in an eligible Title IV degree/certificate program and have completed at least 12 hours (excluding remedial courses) at SFCC and maintained at least a 2.0 GPA with at least a 67 percent completion ratio, you may be considered for a loan. Exceptions may be made on a case-by-case basis.
2. You must have an overall cumulative (all college) 2.0 grade point average (GPA) with at least 67 percent completion ratio. Transfer grades are included in calculating GPA. It is your responsibility to make sure all transfer work is evaluated by the SFCC Registrar and you have been accepted into a Title IV eligible degree/certificate program before your loan is processed. As a continuing student, you must have completed 67 percent of all classes overall and maintain a GPA of at least 2.0.
3. You must enroll in a minimum of six credit hours at SFCC. This does not include consortium agreement hours or remedial hours. Audit (x) courses will not be considered in the hour calculation for loan processing or loan disbursement.
4. As part of SFCC’s Default Management Plan, if you have a prior defaulted loan status, you will be required to go through additional loan counseling with a loan advisor or the financial aid director.

STEP 2: Application Processing

1. Apply for financial aid by using the Free Application for Federal Student Aid (FAFSA) form on the Web at www.fafsa.ed.gov. In Step 6 of the application, list SFCC school code 001522. For faster processing, apply for your PIN at www.pin.ed.gov before completing the FAFSA.
2. Complete the Stafford Loan Request Form, and submit it to the SFCC Financial Aid Office.
3. At SFCC, all first-time borrowers are required to go through Entrance Counseling prior to a loan being processed.

STEP 3: What Happens Next

1. You will receive a Notice of Loan Guarantee and Disclosure Statement from the Florida Department of Education detailing estimated disbursement dates and other specifics.
2. You will be notified by the lender you choose via e-mail or letter informing you to complete the application/master promissory note (MPN) by going to their Web site. Complete this process immediately to avoid any delays in you receiving your loan funds.
3. Your student loan check(s) or Electronic Funds Transfer (EFT) disbursements will be sent to SFCC after the lender has received a completed application/MPN. We strongly suggest that you follow up with your lender to confirm the receipt of your MPN.
4. Refer to the Disclosure Statement you received from your lender. It indicates the date that the lender intends to send your funds to SFCC. For students using a non-EFT lender, you will receive notification by mail regarding the disbursement of your check.

STEP 4: Deferment of Tuition

1. You may have fees deferred against your loan check, provided that the SFCC Financial Aid Office has received an approval from the guarantor that your loan application has been guaranteed.
2. You will be allowed to purchase books against your student loan check, if your financial aid file is complete and SFCC has received a guarantee on the loan.

STEP 5: Disbursement of Student Loan Checks

1. First-time borrowers in the first year of study will receive their disbursements 30 days after the term begins, once the loan has been processed and approved by the guarantor.
2. Every Stafford Loan is required to have a minimum of two disbursements. These disbursements will occur at the start of each term for two-term loans or at the beginning and midpoint of the term for one-term loans.
3. Loan checks will be disbursed within 14 days after the SFCC Financial Aid Office receives funds from the lender. Disbursement is contingent on your file being complete and your enrollment status. Be sure that the SFCC Admissions Office has your correct mailing address.
4. All debt owed to the college will be deducted before the remaining balance checks are disbursed. If the amount of your loan proceeds does not cover your obligation in full, you will be responsible for paying the balance to the SFCC Cashier’s Office.