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MPN (Master Promissory Note)
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Important Information Regarding Your Loan...
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Loans are disbursed in two equal amounts. The first disbursement is made at the beginning of the loan period; the second is made at the mid-point of the loan period.
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You must be enrolled in at least 6 credits at SCC to receive loan.
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The amount and type of loan you are eligible to receive may change if your enrollment status changes.
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To reduce or cancel your loan, notify the Financial Aid Office.
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Be a responsible borrower and borrow only what you need.
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Know what type of loan you are accepting:
Subsidized Stafford Loan - The Federal government pays the interest on behalf of the student through the six month grace period, if the student maintains half time enrollment.
Unsubsidized Stafford Loan - The student is responsible for the interest which begins to accrue on the date the loan funds are disbursed. Payment of the interest may be deferred until after graduation.
To accept your loan offer, you must complete a Master Promissory Note (MPN). Part of the MPN process includes selecting a lender. Students have the right to select any lender they wish, however SCC has made an effort to select lenders that provide good customer service and favorable borrower terms and conditions.
To assist you with the lender selection process, the link below will take you to our student loan comparison tool, powered by Simple Tuition. This site presents a list of lenders to compare in an interactive format. Once you select the lender of your choice, click the apply button to complete the MPN process.
Compare Lenders and Complete the MPN
You may access your prior loan information on the National Student Loan Data System (NSLDS) website at: www.nslds.ed.gov . This site contains all of your Title IV aid history.
If you wish to select a lender that is not listed, contact the financial aid office for information on downloading the "Lender Request Form." Note: not all lenders participate in the electronic funds process with SCC. Some lenders may send a paper check to the school which would require the student to endorse before loan funds can be applied to the student's account. Some lenders require a paper application process. Check with the Financial Aid Office for additional information: 480-423-6549.
"Lender Request" |
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