Frequently Asked Questions

Questions

• What is a "Title IV School Code"?
• Do I have to apply for financial aid each year?
• How do I receive my funds?
• When do I begin making payments on my loan?
• If my parents are divorced or separated, whose information should be used when I'm completing the FAFSA?
• What should I do if my family circumstances changed since submitting my financial aid applications?

Answers

What is a "Title IV School Code"?

A Title IV School Code is designated by the U.S. Department of Education and issued to schools that participate in federal financial aid programs. The Title IV School Code for SCIT is 031136. The code must be listed on the FAFSA application in order for the Department of Education to release the student's FAFSA results to the school.

Do I have to apply for financial aid each year?

Yes. Your financial situation must be reassessed each year.

How do I receive my funds?

Your funds will be electronically disbursed directly to SCIT. We will notify you when the funds get credited to your student account.

When do I begin making payments on my loan?

Federal Stafford Loan repayment begins six months after your last date of class attendance. The standard repayment term is ten years with a minimum monthly payment of $50. Federal PLUS Loan repayment begins 60 days after the loan is fully disbursed for the academic year.

If my parents are divorced or separated, whose information should be used when I'm completing the FAFSA?

The parent you lived with most during the last 12 months. If you didn't live with either parent, use the parent who provided the most support to you during the last 12 months or during the most recent calendar year that you were actually supported by a parent.

What should I do if my family circumstances changed since submitting my financial aid applications?

Financial aid administrators have some latitude in determining what data is used to calculate a family's EFC. You should contact the financial aid office with any circumstances that will affect your family's income or expenses.