Award letters and financial aid information are posted on MySCNM.
Once a year – a new FAFSA is available every January 1. This FAFSA will be effective July 1 to June 30 of the same year and you can apply online at FAFSA for free.
As of May 10, 2015 the Department of Education has issued a new log in requirement replacing the FSA PIN. To access all federal student aid portals, you will need to create an FSA ID.
You are allowed to borrow up to the cost of attendance, which is determined by the SCNM Financial Aid Office. However, you do not have to borrow the full amount; you can choose to borrow a lesser amount.
Yes! If you borrow the full amount you will have money for books, supplies, room and board, transportation and personal/misc.
Federal loan refund checks are distributed by the SCNM Business Office tentatively at the end of the first week of the quarter, upon enrollment verification.
Federal aid is disbursed to SCNM’s account on the first day of the quarter. Funds are then posted to the student’s account and tuition is deducted prior to the student receiving their financial aid refund check.
NO! Federal loans are only available for classes required by the college.
The Department of Education will assign your loans to a servicer who will handle the billing and other services. It is recommended that you create an online account through your servicer's webpage in order to facilitate loan payments. The National Student Loan Data System provides loan and lender information.
The ideal time to consolidate is at the time of repayment. Consolidation is an option; however, once the borrower consolidates repayment begins immediately.