Steps to Borrow a Student Loan | SCC

Steps to Borrow a Student Loan

To borrow a student loan, you must:

  • File your FAFSA;
  • Meet all of SCC’s Admission and Financial Aid requirements;
  • Maintain Satisfactory Academic Progress and;
  • Enroll (and remain enrolled) in 6 credit hours or more for the term for which you are borrowing the student loan.

Steps to Process a Student Loan:

  1. If you are a first-time borrower as a SCC student, you will need to log in to with your FSA ID and password (your FAFSA login credentials) and complete an Entrance Counseling and a Master Promissory Note (MPN). You will find these under the COMPLETE AID PROCESS menu.
  2. SCC students are automatically offered loans through their student self-service account. Students needing to borrow must review the amounts offered and accept as needed (you are not required to accept the full amount offered to you). Accepting loans is a task that needs to be completed every academic year or every time a new loan is offered to the student. The annual loans are divided into two disbursements with half disbursing during the Fall term and the second half during the Spring term.
  3. Steps to follow for the Federal Direct Loan Program

*View more information about borrowing Federals Loans. This webpage will help borrowers understand the federal student loan process and help make informed decisions about student loans.

*The Terms and Conditions and the Rights and Responsibilities of Federal Student Loans are listed on the Master Promissory Note (MPN), which is signed by the borrower who is accepting the loan. If you would like to review this information before borrowing a loan, view a sample MPN for Federal Stafford or Federal PLUS loans. This MPN also provides a sample loan repayment schedule and the necessity for repaying any loans you borrow. (Please note: If you want to borrow a student loan, and need to sign your MPN, please go to

Loan Exit Counseling

Once you have graduated, dropped below half-time status, OR have stopped attending school, all loan borrowers are REQUIRED to complete Loan Exit Counseling. Please note: even if you do not complete the Exit Counseling, you are still responsible for re-paying the loan, as detailed in the Master Promissory Note.