Federal Stafford Loans

Students are encouraged to complete their programs without borrowing, if at all possible; however, in some cases it may be necessary to borrow funds to help pay college-related expenses. Before you begin this process, please read our Guide to Sensible Borrowing to get a comprehensive understanding of applying for a loan at SFCC.

Students who need loan assistance begin the process by completing the Free Application for Federal Student Aid (FAFSA), available on the Web at www.fafsa.ed.gov. Once the complete information from the FAFSA has been received and reviewed by the Financial Aid Office and all other resources of financial assistance have been identified, students may apply for a loan by completing the Stafford Loan Application and submitting it to the Financial Aid Office. NOTE: Because of the time necessary to process loans, both the finalized FAFSA results and the loan application must be completed at least three weeks prior to the term of your anticipated enrollment. If this is your first time applying for a Federal Stafford Loan at SFCC, you must complete the Entrance Counseling requirement. If this is your last term at SFCC and you are a previous borrower, you are required to complete the Exit Counseling before leaving SFCC. Please contact the Financial Aid Office for more detail.

What is a Federal Stafford Loan?

A federal student loan allows students and their parents to borrow money to help pay for college through loan programs supported by the federal government. They usually have low interest rates and offer attractive repayment terms, benefits and options. Generally, repayment of a federal loan does not begin until after the student leaves school. Federal student loans can be used to pay school expenses such as tuition and fees, room and board, books supplies and transportation.

What is a PLUS Loan?

Plus loans are low interest loans that parents can obtain to help pay the cost of education for their children. PLUS loans require a credit check and, in some instances, an eligible cosigner. Repayment of PLUS loans begins following the final disbursement for the year.

Additional information regarding education loans, Entrance and Exit Counseling is available in the Financial Aid Office.

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