Trident Technical College offers our students Stafford Loans and PLUS Loans, for parents of dependent students. TTC offers a preferred lender list that consist of four lenders: South Carolina Student Loan, Bank of America, Nelnet Student Loan Corporation, and Wachovia Education Finance. However, TTC will certify loans from any federally qualified lender as requested by student and/or parent.
Q: What is a Preferred Lenders list?
A: A Preferred Lenders list is a list of student loan agencies that the college’s Financial Aid Office has selected to provide educational loans for students while attending TTC. The Higher Educational Act of 1965, as amended, clearly indicates a student and/or parents’ should have a choice of a lender(s). If there is a lender(s) that a student and/or parent would prefer to use, and, it does not appear on the Preferred Lenders list, then the student and/or parent should contact the Financial Aid Office for assistance.
Q: How was TTC’s Preferred Lenders list selected?
A: A questionnaire was sent to a random selection of student loan agencies that provide student loans. TTC’s focus was to ensure that the agencies selected would provide the best student loan services to the college’s student loan borrowers. There were nine questions that covered several key components such as: the agency’s default rate, loan fees, student repayment options, loan forgiveness programs, scholarship availability and customer service availability. The responses were tabulated and the Preferred Lender’s list was selected.
Q: Can I borrow student loans at two different colleges during the same academic year?
A: A student can borrow loans at two different colleges during the same year; however, loan funds can not be disbursed within the same enrollment period. For example: A student cannot get $1,750 at college A and get $1,750 at college B if both enrollment loan periods fall within August to December. It is the student’s responsibility to notify the Financial Aid office that they have attended a post-secondary school.
Please review TTC’s Preferred Lenders List
If you would like to choose a preferred lender click here to submit form.
There are two types of Stafford Loans available. Subsidized and Unsubsidized.
A subsidized loan is awarded on the basis of financial need. You won’t be charged any interest before you begin repayment or during authorized periods of deferment. The federal government "subsidizes" the interest during these periods.
An unsubsidized loan is not awarded on the basis of need. You’ll be charged interest from the time the loan is disbursed until it’s paid in full. If you allow the interest to accrue (accumulate) while you’re in school or during other periods of nonpayment, it will be capitalized—that is, the interest will be added to the principal amount of your loan, and additional interest will be based on that higher amount.
PLUS loans are loans your parents can take out to pay for your education expenses if you’re a dependent undergraduate student enrolled at least half time. PLUS Loans are unsubsidized
Please review **TTC Loan Certification Policy**
Basic eligibility: you must be enrolled in an approved degree, diploma, or certificate program; registered for at least six hours during the semester(s) you will receive your loan funds; you must meet all general eligibility requirements for federal aid. You must meet all of these criteria at the time of each disbursement.
Requesting a loan: you may request a Stafford Loan on your FAFSA or by submitting a request for additional loan funds or by submitting a request for a Parent/Plus Loan. If you request a loan on your FAFSA, you will be processed automatically when we receive the information from the federal government.
Student responsibilities: you must complete loan entrance counseling and sign your promissory note before your loan processing will be completed. Your loan will be cancelled by the lender if the promissory note is not signed within 30 days of the loan being awarded. Failure to complete these two items will result in a delay in receiving your loan funds.
Disbursement of Funds: If there is more than one term, the loan must be disbursed over all terms of the loan period. For example, if a loan period includes all three terms of an academic year, the loan must be disbursed in three substantially equal payments. •
Cancellation of Loan: your loan may be cancelled if you withdraw from classes or drop below six hours during the loan period. The student may cancel or request the loan be reduced by written request as well. When you drop below six hours or you are about to graduate, you must complete loan exit counseling.
Trident Technical College offers our students Stafford Loans (both subsidized and unsubsidized) and PLUS Loans, for parents of dependent students. Students may request any federally qualified lender by submitting that lender's application to the Financial Aid Office for certification.
Entrance Counseling ~ Exit Counseling
Promissory Note
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