Parent Loans (PLUS)

• You must be a U.S. Citizen or an eligible non-citizen.

• You must not be in default on an educational loan or owe a refund on an educational grant.

• You must not have an adverse credit history. (If your PLUS application is denied, please have your student contact the SCC Financial Aid office to see if he or she qualifies for additional student loan funds.)

• For each quarter you wish to receive a loan, your student must be enrolled in an eligible degree or certificate program, taking at least six credits, and maintaining satisfactory academic progress.

• Your loan will be issued in multiple disbursements. If you only request the loan for one quarter, the payments will be separated in two; one at the beginning of the quarter and the second disbursement will be at the mid-quarter point. If you request two or more quarters, the loan will be divided equally among all quarters for which your student is eligible.

• This is a loan and it MUST BE REPAID, regardless of whether your student completes the quarter or not. The parent is the borrower rather than the student, so responsibility for repayment rests with the parent.

• The Dept. of Education charges a loan origination fee. This fee is deducted before you receive any loan money.

• No checks are issued before the quarter begins.

• You have the right to cancel your parent loan at any time. If you want to cancel a future loan disbursement, please contact the SCC Financial Aid office. If your loan funds have been disbursed to you, you can return part or all of the funds to the college within 14 days of the disbursement. If you have already received your loan disbursement and it has been more than 14 days, you can send the funds directly back to your loan servicer.

The Privacy Act of 1974 (5 U.S.C.552a) requires that the following notice be provided to you. The authority for collecting the information requested on this form is S451 et seq of the Higher Education Act of 1965, as amended. Your disclosure of this information is voluntary. However, if you do not provide this information, you cannot be considered for a Direct PLUS loan. The information on this form will be used to determine your eligibility for a DIrect PLUS loan. The information in your file may be disclosed to third parties as authorized under routine uses in the Privacy Act notices called "Title IV Program Files" (originally published on April 12, 1994, Federal Register, Vol. 59 p 17351) and "National Student Loan Data System" (originally published on December 20, 1994, Federal Register, Vol 59 p65532). Thus, this information may be disclosed to federal and state agencies, private parties such as relatives, present and former employers and creditors, and contractors of the Department of Education for purposes of administration of the student financial assistance program, for enforcement purposes, for litigation where such disclosure is compatible with the purposes for which the records were collected, for use by federal, state, local, or foreign agencies in connection with employment matters or the issuance of a license, grant, or other benefit, for use in any employee grievance or discipline proceeding in which the federal government is a party, for use in connection with audits or other investigations, for research purposes, for purposes of determining whether particular records are required to be disclosed under the Freedom of Information Act, and to a Member of Congress in response to an inquiry from the congressional office made at your written request.

Because we request your Social Security Number (SSN), we must inform you that we collect your SSN on a voluntary basis, but Section 484(a)(4) of the HEA (20 U.S.C.109(a)(4)) provides that, in order to receive any grant, loan, or work assistance under Title IV of the HEA, a student must provide his/her SSN. Your SSN is used to verify your identity, and as an account number (dentifier) throughout the life of your loan(s) so that data may be recorded accurately.