Aid Terms & Conditions

Aid Terms & Conditions

Your Financial Aid Offer: How to Accept Financial Aid from SMC

SMC is pleased to offer you the financial assistance listed on your Financial Aid Offer for the academic year!

Your Financial Aid Offer is available for viewing online from the SMC Student Portal or you may request a copy of your offer from the Financial Aid Office.

By accepting these awards, you agree to and acknowledge the terms and conditions set forth in this document.

  • Please check “accept” or “deny” beside each award on your offer and submit it to the Financial Aid Office via the SMC Student Portal.
  • If using a paper version of your offer, indicate your acceptance or denial of each award by your initials and sign the bottom before returning one copy to the  Financial Aid Office.

Terms of Awards

The financial aid listed on your Financial Aid Offer is based on:

  1. Your Cost of Attendance (COA)*
  2. Your Expected Family Contribution (EFC) calculated by the FAFSA
  3. Your financial need.
  4.  Your academic history.

*The Cost of Attendance (COA) is an estimate of the total cost you incur as a full-time student for the nine-month academic year. This is not your bill, nor is it the amount of money you may owe to SMC. The COA is determined by your housing plan in addition to anticipated cost of tuition, fees, books/supplies, transportation, and personal expenses.

Estimated Student Expenses/Federal Cost of Attendance for 2022-2023

The amounts below are not a direct cost to the student. These are federal guidelines for awarding policies.

Tuition/fees $19,350 $19,350 $19,350
Room/Board $4,665 $11,950 $9,330
Books/Supplies $340 $340 $340
Transportation $1,840 $1,060 $1,840
Personal Expenses $2,400 $2,400 $2,400
TOTAL $28,595 $35,100 $33,260

The combination of all scholarships, loans, grants and work cannot exceed your cost of attendance. If there is an error in awarding, regardless of the source of the error, the error must be corrected and the source of the funds fully restored.

The financial aid resources listed in your Financial Aid Offer are subject to change at any time based upon the availability of funds and any updated information provided to or received by the Office of Financial Aid. There are many reasons why you may become ineligible for funds. Some of these factors include, but are not limited to, your total award package (including outside assistance) exceeds your cost of attendance, changes in residency, changes in enrollment, receipt of other aid, withdrawal from classes, changes in major, changes in financial status, and registration in courses for which you have already received a grade.

It is your responsibility to repay any disbursed funds for which you have become ineligible. It is also your responsibility to pay any current term charges that your aid does not cover.

You must notify the SMC Office of Financial Aid immediately if you are attending another institution simultaneously to SMC and are receiving aid there as well. Failure to notify us may jeopardize your eligibility for aid at SMC.

Eligibility and Enrollment

The US Department of Education publishes basic eligibility criteria for federal student aid programs online at Federal student aid includes Federal Pell Grant, FSEOG (Grants), Subsidized and Unsubsidized Loans, PLUS Loans, and Federal College Work-Study.

To receive funds from any federal aid program, with the exception of Federal Pell Grant, you must be enrolled in at least six hours each semester. If your scheduled Federal Pell Grant permits, you may receive Pell funds if enrolled for fewer than six hours.

All federal aid programs require that recipients be candidates for degrees offered by the College. Your award is based on the assumption that you will enroll as a full-time student (at least 12 hours each semester). You cannot receive the Federal Pell Grant at two separate schools during the same term. Any amount received at another school will have to be repaid.

Recipients of all financial aid programs funded by the state of South Carolina have additional requirements. State financial programs include the SC LIFE Scholarship, Lottery Tuition Assistance, and SC Tuition Grants. Students are required to be enrolled in at least twelve hours each semester, with the exception of Lottery Tuition Assistance.

Enrollment Status as Defined by SMC

Full-time 12 or more hours per semester
Three-quarter time 9-11 hours per semester
Half-time 6-8 hours per semester
Less than half-time 1-5 hours per semester

Academic Requirements

All students receiving federal, state, or institutional financial aid must adhere to the SMC policy on Satisfactory Academic Progress (SAP) published in the Academic Catalog. The purpose of this is to ensure that students are making measurable process toward a degree in a reasonable period of time. Students not meeting these standards are not eligible for federal, state, or institutional aid. Students not meeting SAP have the ability to appeal their status with the SAP Appeal Committee and restore a portion of their financial aid upon receiving an approved appeal decision from the Committee or by working themselves back into “Good” Satisfactory Academic Progress standing on their own. This policy is explained fully in the Academic Catalog.


Recipients of federal financial aid are asked to sign an authorization to permit all sources of federal student aid to be used for payment of current college charges. This authorization will be included in your Billing Statement from the SMC Business Office. This authorization remains in effect unless you present a written request that it be rescinded to the Business Office. If you have questions about this authorization, call the College Business Office at (864) 587-4234. Recipients of the SC LIFE Scholarship and/or SC Tuition Grant are required to sign a separate certification, which is available to electronically sign via your Student Portal.

Also, by reading these terms, you verify that you are not in default or do not owe a refund or repayment of any federal or state financial aid (State scholarships/grants, Federal Pell Grant, a Supplemental Educational Opportunity Grant, or Federal Direct Loan). If you are in default or owe a refund, you may lose eligibility of federal and/or state financial aid.

Loan Interest Rates:

  • The interest rate on Federal Direct Subsidized and Unsubsidized Loans first disbursed on or after July 1, 2021, and before July 1, 2022, is fixed at 3.73%*

*Subject to change due to Congressional action


Students who are graduating or drop below half-time enrollment status and received a FSA Loan while attending SMC are also required to complete the Exit Counseling activity. Federal Direct Subsidized/Unsubsidized Student Loan borrowers will complete their exit interviews online at


Work-study allows students to earn part of their financial aid through employment on campus and in community service agencies. Any work-study award, Federal College Work-Study (FWS) or College Work-Study (ICWS), listed on your Financial Aid Offer shows the maximum amount you may earn during the academic year (August-May). Work-study awards are not grants or scholarships automatically applied towards one’s tuition bill, nor is the amount of the award guaranteed. An award simply authorizes a student to participate in the program and sets a limit as to the amount of income a student can earn during the academic year.  All students working at SMC must complete an IRS Form W-4, and I-9 Employment Eligibility Verification Form and a Work Authorization Form. Forms are completed via the Human Resources Office. Please do not begin working until you have completed the required forms. We cannot list you on the student payroll (and you will not be paid) until all forms have been completed correctly and in full. Students working at SMC are paid an hourly wage on a bi-weekly schedule. Wages are deposited directly into your personal checking or savings account.

If you were not awarded work-study and you would like to be considered for it, please contact the Office of Financial Aid.

Consumer Disclosure Information

The names of governing bodies, associations and agencies that accredit SMC are listed in the College Catalog. Copies of these documents are on file in the Office of the President located in the Administration Building. Completion rates and graduation rates for the College are on file in the Registrar’s Office located in the Administration Building. Statistics on athletically-related student aid, revenue and expenses information relating to inter-collegiate athletics, and athletic participation and financial support are located in the Barrett Learning Center. Campus security policies and crime statistics are distributed annually to all students by the college security office. Special facilities and services for students are discussed in the Student Handbook and the College Catalog. These services are administered by the SMC Experience located in the Burgess Student Center.

Additional Student Responsibilities

Please advise the Office of Financial Aid if there are changes in your family’s financial circumstances, if you are awarded financial assistance through an outside source, if your enrollment or housing plans change, or if you need to change your personal contact information. The Office of Financial Aid sends information regarding students’ financial aid status via e-mail and direct mail through the United States Postal Service, so it is imperative that the College have your current contact information on record, particularly your local and permanent address, as well as your personal e-mail address. Once enrolled, we will also send e-mail communications to your SMC e-mail address. It is your responsibility to keep your SMC e-mail address activated and to check your messages.