Conditions of Financial Assistance

CONDITIONS OF FINANCIAL ASSISTANCE

1. LAST DATE TO DROP WITH A REFUND: I understand that by applying for and receiving financial aid, my tuition and fee due date has been extended beyond the Last Date to Drop with a Refund. I understand that if I do not attend class during the first week, I may be dropped from class. If I am not dropped, I understand it is my responsibility to drop the class by the Last Date to Drop with a Refund. If I do not drop a class before the Last Date to Drop with a Refund, I will owe the college tuition and fees for that class.

2. TUITION DUE DATES: I understand that I am obligated to pay the amount due for tuition, fees, the Book Line of Credit and First Day Book Program charges in full by my due date. This includes any amount not covered by financial aid or balances that are a result of withdrawing from my classes. I understand that any Federal, State, institutional or external source of financial aid, as well as any student fee refunds, will be applied to any outstanding balance on my account, including past-due balances, bookstore charges and other financial obligations, in accordance with the rules of those funds.

3. ENROLLMENT: I understand that my financial aid award will be projected at full time enrollment and will be adjusted based on my actual enrollment. I understand that I must be enrolled and stay enrolled in a minimum of six credit hours in order to receive a Federal Direct Stafford Loan at SPC. If I change my class schedule after I have accepted the awards, the amounts and types of financial aid awards are subject to change. If I drop an Express or Second 8 Week Session class after I have received a refund for the term, I may have to repay the financial aid for which I am no longer eligible.

4. FINANICIAL AID AWARD PACKAGE: I understand that I must report all offers of financial aid not previously reported such as federal and state grants, scholarships, waivers, fellowships, assistantships, certain Veteran benefits, Americorps, Federal Work Study, loan, and any other educational benefits paid to cover expenses because of enrollment or any changes to my financial situation to Financial Assistance Services. I understand that SPC can only apply federal financial aid to the first 30 remedial credit hours attempted.

5. FINANCIAL AID REFUNDS: I understand that if the amount of the disbursements received on my behalf are greater than the amount owed for tuition, fees, the Book Line of Credit and First Day Book Program charges, my excess funds will be refunded to my selected refund preference with BankMobile.

6. SATISFACTORY ACADEMIC PROGRESS: I understand that financial aid is awarded contingent upon maintaining Satisfactory Academic Progress according to the policy outlined on the college website.

7. WITHDRAWING FROM CLASS: I understand that federal financial aid is awarded under the assumption that I will complete the entire term. If I completely withdraw, stop attending, or fail to successfully complete any coursework, I will be required to repay all or a percentage of the federal aid received. Failure to repay these funds will result in the ineligibility of all future financial aid, regardless of which school I attend. I will be required to repay Bright Futures funds awarded for any withdrawn class.

8. ACKNOWLEDGMENTS:
   I voluntarily consent to participate in electronic transactions for all financial information provided or made available to student loan borrowers and for all notices and authorizations to federal student aid recipients. I may view these Conditions of Financial Aid, request a paper copy of Conditions of Financial Aid and/or request a paper copy of my records. I understand and agree to pay the amount owed for tuition, fees, the Book Line of Credit, First Day Book Program charges and all costs of collections including reasonable legal fees.

   By my signature below, I hereby acknowledge that I have read, fully understand and agree to the above terms and conditions of this financial obligation.

 Revised 2/2025