If you are a first-time borrower at SPC, you will be required to:
- Accept, reduce or decline the loans offered to you based on your eligibility. If you attend less than full-time during any term, your Cost of Attendance and financial aid award amounts will be adjusted. This could result in reduction or removal of loans or other financial aid.
- Complete Federal Direct Stafford Loan Entrance Counseling, which explains your rights and responsibilities as a loan borrower and is required for all first time borrowers at SPC.
- Complete your Direct Loan Master Promissory Note (MPN) using your federal PIN. Note: You will only need to complete a Master Promissory Note once while you attend SPC.
These steps must be completed before you can receive your first loan disbursement.
First-time, first-year Stafford borrowers will not receive their first loan disbursement until 30 calendar days after the first day of classes, according to federal regulations.
Find out more information about Federal Direct Stafford Loans.
Information for exiting Stafford borrowers
If you are graduating, withdrawing, or dropping below half-time, complete Federal Direct Stafford Loan Exit Counseling. SPC will receive the results the next business day. Your academic records will be on hold until this is completed.