Financial Aid


As a student, you have rights and responsibilities of receiving financial assistance and, specifically, Federal Student Aid funds. Here’s information you need to know.

Criteria for Continued Student Eligibility

Eligibility for Federal Student Aid requires students to maintain Satisfactory Academic Progress (SAP) in the program in which he or she is enrolled and meet other criteria as outlined under Student EligibilityView information regarding Financial Aid SAP. For information regarding Academic SAP, please contact the Registrar’s Office.

Financial Aid Disbursements

Financial Aid will be disbursed to student accounts at SLCC on specifically assigned dates. Students who meet all 3 criteria combined will have their student loan disbursed no earlier than 30-days after the first day of the payment period (semester) - (1) Classified as a first-time freshman (2) Have no prior student loan history (3) Have been approved for a student loan. 

Book Vouchers

Book Vouchers for Title IV-eligible students are administered by the Student Accounts Office. To be eligible for a book voucher a student must have submitted all required financial aid documentation and been approved for financial aid no less than 10-days prior to the start of the term. Students who submit documentation and are certified after this date will not be approved for a book voucher. Student Accounts will report eligibility for vouchers to area book stores daily, and students will be required to present a student ID and Concise Schedule at the book store at the time of purchase. Book vouchers are valid through the 7th day of the payment period. Students are not required to use the book voucher system for purchasing books and may opt-out by simply not using their voucher.

Federal Direct Student Loans

For information on the terms of any Direct Loan you may receive, please consult with your Loan Servicer. For additional information on Direct Loans, please review the details available at Student Aid.

Federal Work Study

You must indicate your interest in Federal Work Study on your FAFSA. If you are approved to participate in Federal Work Study, you will be eligible to work up to 25 hours per week. Although there is no minimum GPA requirement for new students, all students must maintain Federal Student Aid eligibility as described in the Criteria for Continued Student Eligibility section above and Federal Work Study. FWS funds are limited and are allocated on a first-come-first-served basis.

Terms and Conditions of Direct Loans

The terms and conditions of your Direct Loan are found in your Master Promissory Note, which is a binding legal document that you must sign when you get a federal student loan. The MPN can be used to make one or more loans for one or more academic years (up to 10 years). It lists the terms and conditions under which you agree to repay the loan and explains your rights and responsibilities as a borrower. It’s important to read and save your MPN because you’ll need to refer to it later when you begin repaying your loan or at other times when you need information about provisions of the loan, such as deferments or forbearances. To obtain a Direct Loan and to complete the MPN and read the terms and conditions, visit Student Loans.


Entrance Counseling is a federal requirement for all Federal Stafford Loan recipients. The funds for your loan will not be disbursed until you have completed the counseling. Entrance Counseling provides you with information about your rights and responsibilities as a borrower, interest rates, expenses, repayment plans, and other important details about borrowing as well as who to contact with questions. Entrance Counseling is designed to inform you of the rights and responsibilities associated with being a student loan borrower. It is a federal requirement that students complete Entrance Counseling before Federal Direct Loan funds can disburse to their student account. You can complete this requirement electronically at  Use your federal FSA ID to sign in. If you have not set up your FSA ID user name and password, you must do so before completing the counseling session.

Exit Counseling

Exit counseling is a mandatory information session which takes place when you drop out, withdraw from school, graduate, or attend school less than half-time that explains your loan repayment responsibilities and when repayment begins. Exit counseling is to be completed online at Student Loans. You will need your FSA ID information to sign in.

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