Loans

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Student loans are a serious financial obligation and must be repaid. Be sure to look for other forms of financial aid that don't have to be paid back, like grants, scholarships or student employment.

SPC encourages you to review all information about loans before deciding to borrow and to borrow only what you need. 

Available loans include:

Current federal loan interest rates 

How to apply

The first step in applying for any financial aid at SPC, including grants, loans, scholarships and student employment, is to complete the FAFSA (Free Application for Federal Student Aid).

FAFSA button 

Information for first-time Stafford borrowers

If you are a first-time borrower at SPC, you will be required to:

  1. Accept, reduce or decline the loans offered to you based on your eligibility.
  2. 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.
  3. 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 how to accept your loan and other Loan Basics.

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. 

Loans overview

Master Promissory Note

Military service benefits