St. Petersburg College ::: Financial Assistance Services ::: Loans

DO NOT complete more than one loan request for the same term(s), and allow up to a week for the request to be received.

If you wish to change a Loan Request that you have submitted you must contact your home campus Financial Assistance Services to do so.

Multiple Loan Requests for the same term(s) could result in the processing of a loan amount/period that is not what you intended.

However, if you are requesting another Federal Stafford Loan for different term(s), you will need to apply online as you did for your first loan.

You must have your high school transcripts or GED scores submitted to the Registrar before aid can be disbursed.
You must file a FAFSA for the 2007-2008 academic year, and your financial aid file must be complete.This means documentation requested must be turned in and reviewed.
You must be a degree seeking student or in an eligible certificate program. Check with Financial Assistance Services to be sure that your certificate is aid eligible
You must be enrolled at least half time (six credit hours).
Your enrollment must include at least one college level credit hour.
All other financial assistance is taken into consideration in calculating your loan eligibility. This includes Veterans Benefits.
Loan funds will not be disbursed until you have completed the entrance counseling and have a signed Master Promissory Note with your lender.
The disbursement date on your Disclosure Statement from the guarantor does not reflect the delivery date to the student. It is the date the school has requested the funds, please allow time for processing.

*Due to changes in the way SPC processes student loans for the 2007-2008 academic year, students may be required to complete a new master promissory note (MPN), even if you have previously completed a MPN.

Stafford Loan Disbursements

Beginning summer term 2007, SPC will deliver the balance of all of your financial aid through the SPC One Card. The disbursements will be sent to you electronically or by paper check, you make the choice.

If you have not activated the SPC One Card, funds will not be sent to you. If you’re having problems with your card or have not received a card you will need to contact the Business Office on your main campus. SPC refunds will move to your SPC One Card beginning Summer Term

Loans will be calculated based upon your maximum eligibility for subsidized and unsubsidized loans for the fall and spring semesters.
The maximum loan amount you qualify for will appear on your award letter.
We encourage you to determine the amount you need and reduce your loan to that amount for fall and spring semesters. By not borrowing the maximum loans in the fall and spring you will be able to have loans for the summer.
Summer loans for 2007-2008 will be requested separately. (See information on our web site regarding Cost of Attendance.)
You may reduce your loan amount by completing our loan reduction form.