Do I qualify?

1. A parent applying for a Federal PLUS must be the natural, adoptive, or step-parent of a dependant undergraduate student.
2. Parents must also have an acceptable credit history, or be able to apply with an eligible co-signer.
3. You must not be in default on a previous student or parent loan.
4. Be a citizen, or an eligible non-citizen.
5. The student must be making Satisfactory Academic Progress.
6. Student must be enrolled at least half-time (6 credit hours).

Application Process

1. Complete a Free Application for Federal Student Aid (FAFSA) for each academic year (SPC's School code is 001528). www.fafsa.ed.gov
2. Complete the Verification Process, if selected.
3. Browse our PLUS Recommended Lender List and select a lender.
4. Apply online for pre-approval with your lender of choice.
5. Once you have been pre-approved complete the Master Promissory Note.
6. Upon receipt of your pre-approval decision and the processed FAFSA results, SPC will determine final eligibility and certify the loan amount.
7. If denied your lender will send that information to the school so that the student can apply for additional unsubsidized Stafford Loans.

Disbursement Process

1. Once the loan has been certified and you have completed the Master Promissory Note the lender will transmit the loan funds to the school on the scheduled disbursement date.
2. Loan funds come to SPC via electronic funds transfer and are applied to the students account.
3. After all outstanding educational charges are paid the funds remaining will be directed to the students SPC One Card.

"It is SPC policy that on the scheduled disbursement date, your lender will send funds to SPC via electronic funds transfer (EFT). Those funds will be applied to the students account to cover all educational expenses owed to the school. Any funds remaining after charges are paid will be credited to the student via their SPC One Card."