Student Loan Information

SCC participates in the William D. Ford Federal Direct Loan program. The Federal Direct Loan program offers our students and parents a stable, streamlined, and predictable borrowing experience.

What do I need to do?

New and returning student borrowers (who are new to SCC) are required to eSign a Federal Direct Loan Master Promissory Note and complete Federal Direct Loan Entrance Counseling. You will have to do this only once while in attendance at SCC. Just because a student completes an MPN does not guarantee receipt of loan funds. Students must also meet all other eligibility criteria and be awarded.

Parents applying for a Federal Direct Parent PLUS Loan will need to complete a Direct PLUS Loan application and submit SCC's Direct PLUS Loan Request form to the financial aid office. Just because a parent completes an MPN does not guarantee receipt of loan funds. Students and Parents must also meet all other eligibility criteria and be awarded.

Loan Resources

Direct Loan Interest Rates: Find out more information about loan interest rates.

Income Based Repayment Plan: Find our more information about the new Income Based Repayment (IBR) Plan for federal student loans.

NSLDS Student Access: The National Student Loan Data System (NSLDS) is a central database that tracks your financial aid history. NSLDS contains all of your Title IV aid history. Loan information will be submitted to NSLDS and it allows you and authorized agencies, lenders and institutions to view all types of funding from Federal grants, Federal Stafford loans, Direct loans, Perkins loans, and Plus loans. It tracks loan servicers, account numbers, current balances, loan status, disbursements, loan types, loan periods, interest rates, school name and contact information, grant history, and remaining eligibility.

In-school Deferments: It's a good idea to make sure your loans borrowed through other schools are in deferment.

What is a cohort default rate (CDR)?

For schools having 30 or more borrowers entering repayment in a fiscal year, the school’s cohort default rate is the percentage of a school’s borrowers who enter repayment on certain William D. Ford Federal Direct Loans (Direct Loans) and Federal Family Education Loans (FFELs) during that fiscal year and default (or meet the other specified condition) before the end of the second fiscal year following the fiscal year that the borrower entered repayment.

Average Rate Calculation: The denominator for the average cohort default rate is the number of borrowers who entered repayment in the current cohort fiscal year and the two preceding cohort fiscal years. The numerator for the average cohort default rate is the number of borrowers who entered repayment in the current cohort fiscal year or either of the two preceding cohort fiscal years and who defaulted or met the other specified condition in the cohort default period for the cohort fiscal year in which they entered repayment.

INFO Understanding Delinquency and Default