Federal loans

SCAD participates in the U.S. Department of Education's Direct Loan Program. With a Direct Loan, students and parents are obtaining a low-interest loan directly from the federal government to assist in paying for the student's education after high school. To apply for a Direct Loan, visit studentloans.gov

Loans Amount per year Basic eligibility requirement

Federal Subsidized Direct Loan

$3,500 to $8,500, depending on grade level

Must complete FAFSA and demonstrate unmet need after other aid is awarded

Federal Unsubsidized Direct Loan

$2,000 to $12,000, depending on grade level

Must complete FAFSA and demonstrate unmet need after other aid is awarded

Federal Graduate PLUS Loan

Limited by cost of attendance and other aid received

Must complete FAFSA and have a positive credit check

Federal Parent PLUS Loan

Limited by total cost of attendance

Must complete federal process, be a parent (biological, step or adoptive) and have a positive credit check

Consumer Loan Disclosure Notice - In compliance with federal regulations under HEOA Sec. 489 amended Sec. 485B (d) (4) (20 U.S.C. 1092b) approved loans will be submitted to the National Student Loan Data System (NSLDS) by the U. S. Department of Education and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system as determined by the U. S. Department of Education.

Federal loans

The direct loan program enables students to borrow funds directly from the U.S. Department of Education to assist with educational expenses.

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Direct loan servicing

The U.S. Department of Education contracted with additional entities to provide loan servicing for borrowers of Federal Direct Subsidized, Federal Direct Unsubsidized and Federal Direct Parent (PLUS) Loans.

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Direct loan confirmation policy

SCAD utilizes "active confirmation" on all student Direct Loans prior to crediting the loan to student accounts. This process requires the student to accept the loan amount he or she would like to borrow for the specified aid year.

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Loan disbursement

Loan proceeds under the federal Direct Loan programs are disbursed to the student's SCAD account in accordance with federal regulations.

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More information regarding PLUS loans

This amount will be evenly distributed among terms that the student is expected to enroll and be eligible to receive federal aid.

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