Student Payment Options

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Student Payment Options Student Insurance
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Emergency Loans

• The Emergency Tuition and Fees Loan Program is a
  short-term loan in which students are attesting
  to financial need and are loaned money to pay 50
  down payment toward their Tuition Fees.
  Therefore, this loan must be repaid.

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Processing Period

• Students may apply for loans until funds are no
  longer available. Emergency loans are not
  available before or after the processing period.
• Starting July 26, 2007
• Ending September 15, 2007
• Applications
• Applications are available at the Financial Aid
  Office.

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Repayment Due Date

• November 1, 2007
• If outstanding balance is not paid in full by due
  date, a 30.00 late payment fee will be assessed.
  
• If payment is not received by the loans due date
  the debt will be sent to an external collection
  agency and reported to the credit bureau. The
  student will be responsible for collection costs
  plus the loan amount.

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Qualifications

• Be at least 18 years of age.
• Be currently enrolled in at least three (3)
  credit hours.
• Not have an outstanding balance owed to STC.
• Not be in default with any student loans.
• Provide three (3) references.
• Name
• Address
• Telephone Number
• Be able to demonstrate ability to repay loan.
• Proof of upcoming Financial Aid disbursement.
• Employer information.
• Other payment source information. (i.e.,
  parents, spouse, etc.).

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Emergency Loan Process

• Register for the current semester.
• Report to the Financial Aid Office to complete an
  emergency loan application.
• Report to Cashiers to complete the installment
  agreement and Pay 30.00 installment processing
  fee at Cashiers Office. Note This step does
  not complete the loan process.
• Report back to the Financial Aid Office to
  complete a promissory note for loan processing.
• Verify your Account Statement (receipt) to ensure
  loan award has been applied

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Enrollment Status Changes

• If you decide not to attend the college, you must
  follow admissions withdrawal policies to ensure
  you are officially dropped from your classes.
• You must renew your promissory note in the event
  your enrollment status changed due to an increase
  in credit hours.
• If you anticipate a Financial Aid award to pay
  off your loan and have made changes to your
  course load please consult the Financial Aid
  Office. NOTE Any outstanding loan amount not
  covered with Financial Aid must be paid by the
  due date.
• If you do not follow the withdrawal policies, you
  will remain enrolled and will consequently incur
  a debt due to STC.
• In addition, you must follow any other pertinent
  steps in updating your account.

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Payment Arrangements

• Students may opt to establish payment
  arrangements to avoid being sent to a collection
  agency for a past due balance.
• The arrangements can be established with any
  cashier by filling out a Student Promissory Note
  Payment arrangement form.
• An initial 50 payment of the outstanding debt
  total is customarily required to activate the
  payment arrangement and the remaining balance
  should be paid in full within a 12 month period.
• Holds will temporarily be removed from the
  student account in order to register however
  he/she will not be eligible for an Installment
  Plan or Emergency Loan until the outstanding debt
  is paid in full.
• Students that do not comply with the payment
  arrangement will be referred to a collection
  agency without prior notification.

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