Receiving funds

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Students will begin receiving their financial aid refunds at the end of the fourth week of classes of the earliest term they are enrolled in. If you are enrolled only in Express or Second 8-week Mod classes, your financial aid will be refunded at the end of the fourth week of that term. It is the student’s responsibility to understand the attendance policies of all courses they are enrolled in. See financial aid refund dates for each term.

Tuition and fees

SPC deducts tuition and fees from your financial aid award directly. If your award is less than the cost of tuition and fees, you must pay the difference by the tuition due date.

Book Line of Credit

CalendarBook Line of Credit dates
The fall 2014 Book Line of Credit is available from July 21 - Sept. 2, 2014.

If your financial aid exceeds your tuition and fee charges, you may charge up to $800 in books and supplies using the Book Line of Credit (a short-term, interest-free loan) at campus bookstores. The amount of your Book Line of Credit is based on projected financial aid that will be refunded at the end of the fourth week of your classes. Check MySPC to see your individual amount.  The bookstore will have your information on file and will apply your available book charges against your tuition account. Get details on using your Book Line of Credit to pay online with Barnes & Noble College.

Notes: 

  • The Book Line of Credit is available four weeks prior to the beginning of each term and runs until the Tuesday of the third week of that term. If you are taking only Express or Second 8-Week Mod classes, your BLOC will be available until the Tuesday of the third week of those classes.
  • The amount of your Book Line of Credit may change based on changes in your enrollment and/or expected financial aid award(s).
  • You can use your Book Line of Credit to purchase your books online and have them shipped to you at no extra charge.
  • Your financial aid file must be complete and your financial aid awards made in order to use the Book Line of Credit.

Disbursements

Disbursements occur when SPC receives federal, state, or other funds on your behalf. These funds are applied to your student account to cover your tuition, fees, and Book Line of Credit charges. This is the date you will see in MySPC; however, this is not the date your excess funds are refunded to your SPC OneCard.

Loan disbursements
All loans are disbursed in two payments, even if the loan is for one term.  If your loan is for fall and spring, you will receive one half of the loan during the fourth week of classes of each term.  If your loan is for one term only, you will receive two payments within that term, the first during the fourth week of your classes and the second at the halfway point of the term.

Refunds to your SPC OneCard

SPC OneCardRefunds to your SPC OneCard occur when the amount of the disbursements received on your behalf is greater than the amount owed for tuition, fees, and the Book Line of Credit. The excess funds will be refunded to your SPC OneCard based on the choice you made when you activated the card. Refunds begin at the end of the fourth week of your classes.

Student employment pay

Students working through student employment programs of Federal Work Study, America Reads, America Counts, or Student Assistants will receive their paychecks bi-weekly through their supervisor or directly deposited into their bank accounts.

Receiving funds