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INSTITUTIONAL LOANS AND RECEIVABLES

Falcon Loans
Book Loans
Veterans Deferment
Emergency Loans
Title IV Repayment
Financial Aid Repayment
Misc Accounts Receivable

Falcon Loans

Falcon Loans are available for all registered students in good financial standing to assist with tuition payments (subject to the availability of funds). Generally, the student must make a down payment of 50% of the cost of tuition. The Falcon Loan will be awarded to cover the other 50%. A service charge of $1.00 per hundred of principal (or portion thereof) will be assessed in lieu of charging interest.

Loans for full semester courses are due 60 days from the start of classes. Loans for late start classes vary but will always be due before the end of the semester. If the loan is not paid in full by the due date, a late fee will be added to the account. Late fees are 5% of the total amount due OR $10.00 whichever amount is greater.

From the date the loan is awarded until it is paid in full, a hold will be placed on the borrower’s records, diplomas, and transcripts. The hold will also prevent any future registration activity including withdrawals. The loan will be referred to an outside collection agency and to appropriate credit bureaus in the event of default. Resulting collection costs will be added to the original loan and the student must pay these costs and attorney's fees if applicable.

Click here for a Falcon Loan Application. Bring completed loan applications to the Bursar’s Office on the Daytona Campus in Building 100 Room 103.

Book Loans

Book loans are available for all registered students in good financial standing to assist with payment for books (subject to the availability of funds). Loans are based on the number of credit hours the student is enrolled:

Student is Registered For	Book Loan Amount
1 – 5 hours	$200
6 – 8 hours	$400
9 – 11 hours	$600
12 or more hours	$800

Additional amounts may only be approved with appropriate written documentation verifying the cost of the books or required supplies.

Book loans can only be used for new purchases at the Daytona or DeLand DBCC Bookstore. Loans can not be used on previous purchases or at any bookstores other than the Daytona or DeLand DBCC Bookstore. If a student does not use the full amount of the loan, the loan will be reduced to the actual amount spent at the bookstore. Books that are returned to the bookstore will be credited back to reduce the amount of the loan if they are returned by the bookstore refund deadline. No cash refunds will be given.

A service charge of $1.00 per hundred of principal (or portion thereof) will be assessed in lieu of charging interest. Loans for full semester courses are due 60 days from the start of classes. Loans for late start classes vary but will always be due before the end of the semester. If the loan is not paid in full by the due date, a late fee will be added to the account. Late fees are 5% of the total amount due OR $10.00 whichever amount is greater.

From the date the loan is awarded until it is paid in full, a hold will be placed on the borrower’s records, diplomas, and transcripts. The hold will also prevent any future registration activity including withdrawals. The loan will be referred to an outside collection agency and to appropriate credit bureaus in the event of default. Resulting collection costs will be added to the original loan and the student must pay these costs and attorney's fees if applicable.

Click here for a Book Loan Application. Bring completed loan applications to the Bursar’s Office on the Daytona Campus in Building 100 Room 103

Veterans Deferment

Veterans eligible for VA education benefits are granted a deferment once per academic year. See the Veterans Specialist in Building 100, Room 208 on the Daytona Beach Campus to apply for a deferment. The deferment may be for up to 60 days, but will always be due before the end of the semester. This deferment must be paid by the due date whether or not benefit checks are received from the United States Department of Veterans Affairs.

From the date of this deferment until it is paid in full, a hold will be placed on the borrower’s records, diplomas, and transcripts. The hold will also prevent any future registration activity including withdrawals. The deferment will be referred to an outside collection agency and to appropriate credit bureaus in the event of default. Resulting collection costs will be added to the original deferment and the student must pay these costs and attorney's fees if applicable.

Emergency Loans

Limited funds may be available to assist students with an emergency or crisis financial situation. These funds are not intended to substitute for financial aid and will be deducted from any financial aid the student may subsequently receive. The funds are awarded based upon an individual’s documented need.

A service charge of $1.00 per hundred of principal (or portion thereof) will be assessed in lieu of charging interest. You may have up to 60 days to repay the loan. However, the loan may be due sooner depending on the number of days remaining in the semester. If the loan is not paid in full by the due date, a late fee will be added to the account. Late fees are 5% of the total amount due OR $10.00 whichever amount is greater.

From the date the loan is awarded until it is paid in full, a hold will be placed on the borrower’s records, diplomas, and transcripts. The hold will also prevent any future registration activity including withdrawals. The loan will be referred to an outside collection agency and to appropriate credit bureaus in the event of default on the loan. Resulting collection costs will be added to the original loan and the student must pay these costs and attorney's fees if applicable.

Title IV Repayment

A Title IV Repayment is a receivable that results from a mandatory federal requirement to return Title IV funds to the U.S. Department of Education when a student withdraws or ceases attending all classes. Title IV funds include Pell Grants, SEOG Grants, and Stafford Loans. Financial aid awards are based on attendance for the entire semester. When the student withdraws or ceases attendance prior to completing at least 60 percent of the semester, the federal government has determined that the student has not earned the entire amount of the grant or loan. Therefore, the unearned portion must be returned to the appropriate federal aid program.

The student will initially be notified by the Financial Aid Department of any Title IV Repayments. The Bursar’s Office will follow up with several notices to the student. If the Title IV Repayment is not paid by the due date, this obligation will be referred to an outside collection agency and to appropriate credit bureaus. Resulting collection costs will be added to the original debt and the student must pay these costs and attorney's fees if applicable.

Financial Aid Repayment

A financial aid repayment is a receivable that results from a reduction in a student’s financial aid award. The receivable may be for tuition, a book voucher, or a refund the student received before their aid was reduced. Financial Aid may be reduced because the student either dropped all classes, reduced their registered hours (ie. dropped from full time to half time) or otherwise became ineligible for financial aid.

The Bursar’s Office will notify the student of a Financial Aid Repayment and will follow up with additional notices to the student. If the Financial Aid Repayment is not paid by the due date, this obligation will be referred to an outside collection agency and to appropriate credit bureaus. Resulting collection costs will be added to the original debt and the student must pay these costs and attorney's fees if applicable.

Misc Accounts Receivable

These receivables result from various different scenarios. It may be that a student signed a purge hold agreement and then was either not awarded any aid or was not awarded enough to cover the student’s tuition and fees. It may be the result of a balance remaining for an access fee, lab fee or online fee. Or, it may be that a third party sponsor declined to pay and the receivable is now the student’s responsibility.

Regardless of the reason for the receivable, the Bursar’s Office will notify the student of the outstanding obligation and will follow up with additional notices to the student. If the receivable is not paid by the due date, this obligation will be referred to an outside collection agency and to appropriate credit bureaus. Resulting collection costs will be added to the original debt and the student must pay these costs and attorney's fees if applicable.