Steps to Follow for the Federal Direct Loan Program
In order to borrow funds to attend SCC you will need to complete the following steps.
Student Aid Steps
If you are a first-time borrower through SCC, you will need to complete the following steps. Otherwise, jump to Self-Service Steps.
- Go to Federal Student Aid
- Log in with your FSA ID Username and Password
- From the menu on the top of the screen, hover over Grants and Loans.
- Under Get a Loan click on Loan Entrance Counseling
- Start under "I am an Undergraduate Student"
- Once you complete the Counseling, hover over Grants and Loans again
- Click on Master Promissory Note (MPN)
- Start under "I am an Undergraduate Student"
Self-Service Steps
- Go to MyPath and login
- Select Student Self-Service
- From the home screen, click on Fin. Aid & Account Balance
- Select FA Loan Request and follow the screen instructions.
- Allow 7 to 10 business days for your eligibility to be reviewed and for the loan to post towards your calculated aid.
- All loans have two disbursements. If it’s the beginning of the academic year the amount requested will split between the Fall and Spring terms. If you are requesting a Spring loan, or a Summer loan, both disbursements will take place during that one term.
More Information
Know your annual limits* and plan ahead:
| Grade Level | Dependency Status | Subsidized Limit | Unsubsidized Limit |
|---|---|---|---|
| Freshman | Dependent | $3,500 | $2,000 |
| Freshman | Independent | $3,500 | $6,000 |
| Sophomore** | Dependent | $4,500 | $2,000 |
| Sophomore** | Independent | $4,500 | $6,000 |
*Annual limits are affected by your EFC, budget, etc.
**You become a Sophomore student not on your second year but after you have successfully
completed 30 credit hours.
Know your lifetime limits towards an Undergraduate degree (that includes a Bachelor degree):
| Dependency Status | Subsidized Maximum | Total Loans |
|---|---|---|
| Dependent | $23,000 | $31,000 |
| Independent | $23,000 | $57,500 |
Keep track of your debt and avoid defaulting on your loans. The consequences of
defaulting may impact your finances, damage your credit rating, affect your ability
to buy/sell assets, cause withholds on your Federal tax refunds, wages garnished,
cause additional cost charges due to the collection process, etc. Always reach out
to your Loan Servicer for help on an affordable repayment option.
It is important to understand your Student Loans. For detailed information concerning Federal Student Loans, go to Types of Financial Aid.
