CONDITIONS OF FINANCIAL ASSISTANCE
- LAST DAY 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 Day to Drop with a Refund.
If I do not drop a course before the Last Day to Drop with a Refund, I will owe the college tuition and fees for that course.
- TUITION DUE DATES: I understand that I am obligated to pay the amount due for tuition, fees, Book Line of Credit and First Day Book Program in full by my due date.
This includes any amount not covered by financial assistance or balances that are a result of withdrawing from my classes.
I understand that any Federal, State, institutional or external source of financial assistance, 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.
- ENROLLMENT: I understand that my financial assistance award will be projected at full time enrollment and will be adjusted based on my actual enrollment.
If I change my class schedule after I have accepted the awards, the amounts and types of financial assistance awards are subject to change.
I understand that I must be enrolled in a minimum of six credit hours in order to receive a Federal Direct Student Loan at SPC.
If you attend less than full-time during any term, your Cost of Attendance and financial aid award ammounts will be adjusted. This could result in reduction or removal of loans or other financial aid.
- 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 the First Day Book Program, my excess funds will be refunded to my selected refund preference with BankMobile Disbursements. SPC delivers your refund with BankMobile Disbursements, a technology solution, powered by BMTX, Inc. Visit https://disbursements.bmtx.com/refundchoices/ for more information.
- WITHDRAWING FROM CLASS: I understand that if I stop attending classes or withdraw completely before completing a minimum of 60% of the term, I will be required to repay all or a percentage of the federal financial assistance received.
Failure to repay these funds will result in the ineligibility of all future financial assistance, regardless of which school I attend.
- REMEDIAL CREDIT HOURS: I understand that SPC can only apply federal financial assistance to the first 30 remedial credit hours attempted.
- FINANICIAL AID AWARD PACKAGE: I understand that I must report all offers of financial assistance 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.
This could result in reduction or removal of loans or other financial aid.
- SATISFACTORY ACADEMIC PROGRESS: I understand that financial assistance is awarded contingent upon maintaining Satisfactory Academic Progress according to the policy outlined on the college website.
- ACKNOWLEDGMENT: 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.
I further understand and agree to pay, the amount owed for tuition and fees, and all costs of collections including reasonable legal fees.
Revised 11/2020