Transcript Student Payment Options & Student Insurance

Student Payment
Options &
Student Insurance
Emergency Loans
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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.
Processing Period
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Students may apply for loans until funds are
no longer available. Emergency loans are not
available before or after the processing
period.
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Starting July 26, 2007
Ending September 15, 2007
Applications
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Applications are available at the Financial Aid
Office.
Repayment Due Date
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November 1, 2007
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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 loan’s 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.
Qualifications
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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.).
Emergency Loan Process
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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 Cashier’s 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
Enrollment Status Changes
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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.
Payment Arrangements
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Students may opt to establish payment arrangements to avoid being
sent to a collection agency for a past due balance.
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The arrangements can be established with any cashier by filling out a
Student Promissory Note – Payment arrangement form.
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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.
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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.
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Students that do not comply with the payment arrangement will be
referred to a collection agency without prior notification.