Loans

SCF encourages you to review all information about loans before deciding to borrow and to borrow only what you need.

Loans must be repaid!  Loans awards may be reduced, even after disbursed which can create a debt to SCF if eligibility requirements are not maintained and/or a student’s Cost of Attendance is exceeded.  If a student has received any financial aid, including but not limited to student loans, they must inform the financial aid office of such aid received as it may impact award eligibility at SCF.  Failure to do so may cause an award to be reduced unexpectedly when the over award is identified.

Loans at SCF include:

• Federal Direct Stafford Loans
• Federal Direct PLUS Loans
• Private Loans

Truth in Lending Act Disclosure

Federal Direct Stafford Loans

• Direct Subsidized Loans: For undergraduate students who demonstrate financial need; U.S. Department of Education generally pays interest while the student is in school and duringcertain other periods; a student must be enrolled at least half-time (6 credits) at the time of disbursement to remain eligible.
• Direct Unsubsidized Loans: For undergraduate and graduate or professional students; the borrower isresponsible for interest during all periods; a student must be enrolled at least
  half-time (6 credits) at the time of disbursement to remain eligible; financial need is not required.

Learn how to apply.

 Federal Direct Plus Loans

• Direct PLUS Loan: For parents of dependent undergraduate students and for graduate or professional students; the borrower is responsible for interest during all periods; a student must be enrolled at least half-time (6 credits) at the time of disbursement to remain eligible; financial need is not required; the borrower must not have an adverse credit history.

Learn how to apply.

Private Loans

• SCF does not endorse any specific private loan lenders or have a preferred lenders list. We encourage students to research private lenders and advise students to understand all terms, rights, and responsibilities. Students should first explore scholarships and grant opportunities; as well as federal student aid through completing the FAFSA (www.fafsa.gov) Federal loans will offer lower interest, are guaranteed by the Department of Education, and can provide flexible repayment terms. For additional information, please visit studentloans.gov. Federal Truth in Lending Act requires lenders to disclose key terms of lending arrangements and all costs in a uniform manner. SCF strongly encourages all students to review this information from your student loan lender prior to entering any agreements

Learn about the differences between federal and private student loans