Student Financial Assistance

Southwestern College offers financial aid programs for students who demonstrate financial need. The College makes every effort to help a student meet financial needs, subject to the availability of funds. The Southwestern College financial aid programs include Subsidized and Unsubsidized Federal Direct Loans, scholarships and payment plans. Each state's Department of Labor or Division of Vocational Rehabilitation may provide assistance through programs.

Dorothy Archuleta, Financial Aid Coordinator

Southwestern College's financial aid programs are founded upon the premise that responsibility for financing an education ultimately rests with students and their families. Students and their families should investigate local sources, such as service organizations, churches, Native American tribal affiliations, corporations and foundations for scholarship and loan funds. Students residing in or near Santa Fe are directed to the State Library Foundation Center at 1209 Camino Carlos Rey.

Loan Programs

The Subsidized Federal Direct Loan:
Subsidized Federal Direct Loans are available only to degree students who demonstrate financial need, maintain satisfactory academic progress and are enrolled with at least half-time status. During the period a student remains enrolled with at least half-time status, the interest accrued on this loan is paid by the federal government.

For the 2007-08 academic year, the maximum amount which can be awarded to a student in Subsidized Federal Direct Loans is $8,500. Repayment of the loan by the student begins six months after graduation, or upon early withdrawal by the student, or upon an enrollment status change to less than half-time.

The Unsubsidized Federal Direct Loan:
An Unsubsidized Federal Direct Loan is a non-need-based loan available to degree students who maintain satisfactory academic progress and are enrolled with at least half-time status. During the period a student remains enrolled with at least half-time status, the interest accrued on this loan may be capitalized (added to the loan principal) or may be paid monthly or quarterly by the student. Repayment of the loan by the student begins six months after graduation, or upon early withdrawal or an enrollment status change to less than half-time. 

For the 2007-08 academic year, the maximum amount potentially awarded to a student in combined Subsidized and Unsubsidized Federal Direct Loans is $20,500. Students who expect to use Federal Direct Loan funds to cover all or part of the cost of tuition must have a loan guarantee in place at the time of registration. This requires the submission of a Free Application for Federal Student Aid (FAFSA) and other documentation that can take as long as three months to process. Please review the step-by-step process so that you may apply for financial aid in a timely manner.

If a student does not have a loan guarantee in place at the time of registration, that student will be responsible for paying a minimum of one-third of the total tuition charges upon registration and for establishing a payment schedule for the remaining tuition balance.

The fee for setting up a payment schedule is $20 per quarter. Registration can take place at any time up to the first day of class, but there are official registration dates established each quarter.

Scholarships
The Southwestern College Scholarship Program awards a number of scholarships on a quarterly basis. These scholarships are available to degree students who are enrolled in ten or more units during the quarter for which the scholarship is requested. The financial aid office publicizes these scholarships to students through postings and in campus mail. Additional scholarships may become available throughout the academic year.

An application must be completed and submitted approximately 30 days prior to the quarter for which a scholarship is requested. Applications are available through the financial aid office. The local public library may have other sources of scholarship information. Additional scholarship information can be found on the Internet at the following sites:

Other Resources
Southwestern College will provide a listing of private ALternative Lending Institutions to assist students in meeting additional educational cost and living expenses. These loans are approved based on the credit history of the student and it is the responsibility of the student to apply to the lender of their choosing.

Payment Plan
Financial assistance may be granted to students in the form of a limited payment schedule. Contact the financial manager's office prior to registration for further information regarding the payment plan.

Veterans Benefits
Southwestern College is approved by the New Mexico Veterans Service to educate veterans. Veterans wishing to obtain information should contact the Veterans Affairs Regional Office at 1-888-442-4551.

Students needing additional information regarding the Southwestern College financial aid programs may write, call or e-mail the:

Financial Aid Office
Southwestern College
P.O. Box 4788
Santa Fe, NM 87502-4788
finaid@swc.edu
(505) 471-5756 X19
(877) 471-5756 X19 (toll free)