2006-07 College Catalog - South Florida State College

5HWXUQWR6HFWLRQ0HQXFederal Family Education Loan Program (FFELP) -Borrowing money to pay for college must be given verycareful consideration and you should borrow only ifyou are unable to pay for college from some othersource (such as the Pell Grant or part-time employment).Loans must be repaid, even if you do not completethe education or training program, or if you arenot satisfied with the education or training you receive.To receive a federal student loan, you are required tocomplete loan entrance interview counseling, as wellas loan exit interview counseling. You must completethe FAFSA to be considered for a Stafford Loan. If youare a dependent student, your parents may borrowfunds under the Federal Parent Loans for UndergraduateStudents (FPLUS) Program to help pay your schoolcosts without completing the FAFSA; however, westrongly encourage you to complete the FAFSA to determinewhether there are any sources of grant fundsavailable. Contact the Financial Aid Office for more importantinformation concerning loans.Eligibility RequirementsAll first year, first time undergraduate students, includingtransfer students from other institutions, willnot be eligible to receive a Stafford Loan the firstterm that they are enrolled at SFCC. Once you havecompleted at least 12 hours at SFCC and maintaineda 2.0 cumulative GPA with at least 67 percent completionratio, you may be considered for a loan. In addition,if you receive a Stafford Loan, you must successfullypass at least six (6) hours in the term thatthe first disbursement was made and have an overallGPA of at least 2.0 in order to receive the seconddisbursement of your student loan proceeds.Welfare Transition Services (WTS) - If you, the client,are receiving public assistance benefits to enter trainingor job programs which will lead you to a self-sufficientlife-style, you may be referred to this program bythe Department of Children and Families. The goal ofthe College is to assist you through matriculation, tuition,books, childcare, transportation, and other personaladvising services which will assist you in overcomingbarriers to success. Contact the Heartland CareerConnection Office at (863) 385-3672.Borrowing Basics -How Much Can I Borrow?How much you borrow each year depends on yourenrollment, cost of attendance and other financialassistance received. There are limits for each federalstudent loan, depending on the type of loan andyour grade level in school.How Much Should I Borrow?You should borrow as little as possible. Because itis relatively easy to obtain student loans, you mightborrow more than you really need. Remember thatborrowing is simply renting somebody else’s money.You will have to repay that money - with interest.First Time Loan BorrowersIf you are a first-time borrower with less than 30 credithours earned, federal regulations require that youmay not receive your loan check until 30 days fromthe start of the term. You also must complete a LoanEntrance Interview at the Financial Aid Office.Loan DisbursementEvery Federal Stafford Loan period is required to havea minimum of two disbursements: the start of eachterm for two term loans or mid-point for a single termloan.44