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Important Loan Dates (By Term)

Academic Year

Loan Application Deadline Dates
Oct. 15, 2014
March 16, 2015
May 15, 2015
Loan Periods
Aug. 22, 2014 - Dec. 17, 2014
Jan. 7, 2015 - May 6, 2015
 Fall and Spring
Aug. 22, 2014 - May 6, 2015
 Fall, Spring,
 and Summer
Aug. 22, 2014 - July 30, 2015
May 8, 2015 - July 30, 2015
Anticipated (First) Disbursement Dates
Sept. 15, 2014
Jan. 22, 2015
May 21, 2015
  • Single terms are made in two disbursements.
  • New borrowers are required to wait 30 days from first day of classes for their first disbursement.

What You Need to Know
Before You Get a Loan.

  • Pursue all other alternatives first.
  • Get the facts about each loan program.
  • Know the players in the student loan process and their language.
  • Estimate the anticipated level of debt for your entire program of study.
  • Budget before you borrow.
  • Know manageable levels of debt. Never borrow more than absolutely necessary.
  • Know the effects of having multiple loans.
  • Take the time now to make the right decision. You can save time, money, and frustration.

William D. Ford Federal Direct Loan Program

Students and parents who previously received loans through the Federal Family Education Loan (FFEL) Program will now borrow through the Direct Loan Program. The Direct Loan Program (DLP) offers the same types of loans as the FFEL Program and generally this program will have the same terms and conditions as FFEL Program. The difference is instead of a bank lending the money; the U.S. Department of Education (DOE) lends the money directly to students and parents through the student’s school. The FFEL Loans were either Stafford Subsidized or Stafford Unsubsidized loans. However, in the Direct Loan Program these loans are called Direct Subsidized Loans, Direct Unsubsidized Loans and Direct PLUS Loans.

Benefits of the Direct Loan Program

Direct Loans and FFEL Program loans have the same annual and aggregate loan limits, the same deferment and cancellation provisions, and most of the same repayment plans (Standard, Graduated, and Extended, Income-Based). The interest rates for FFEL Program Stafford Loans and Direct Subsidized and Unsubsidized Loans are also the same. Direct Loans also have some benefits that are available only in the Direct Loan Program:

  • Lower interest rate on Direct PLUS Loans (7.9% vs. 8.5% for Federal PLUS Loans)
  • Up-Front Interest Rebate
  • Income Contingent Repayment Plan (in addition to the Income-Based Repayment Plan)
  • Public Service Loan Forgiveness Program
  • No interest charged (for up to 60 months) during qualifying periods of active duty military service (for loans first disbursed on or after October 1, 2008)

Types of Student Loans

Helpful Links

Are you enrolled at least half-time and have received Notice of Loan Repayment?

Students who have Federal Direct or FFEL Loans and are enrolled at least half-time here at SFSC are eligible for an In-School Deferment. During a deferment, students do not need to make payments. Please contact the financial aid office at 863-784-7224 immediately to resolve your repayment status.

It is the student's responsibility to notify the financial aid office or their loan servicer if they believe they are eligible for an In-School Deferment.

Financial Aid
South Florida State College
600 West College Drive
Avon Park, FL 33825
School Code: 001522

To contact us:
Phone: 863-784-7254
Fax: 863-784-7374