Parents of dependent undergraduates can also take out educational loans through the Federal Direct PLUS Loan program. The university also has a Short-Term Loan program to help students meet emergency financial needs related to educational expenses. Interest is one percent per month and these loans must be repaid by the first day of the last month in the semester in which the money is borrowed. Part-time employment through the university is offered to about 7,500 students each year. Students normally work 15-20 hours a week, four or five days a week and earn at least minimum wage.
Most departments arrange work hours around the students' academic schedules.
Students are considered for aid according to the date their aid file is complete. Although SFA cannot award financial aid to students until they have been admitted to the university, students should apply for aid as soon as possible after January 1 each year. Students can now apply electronically. Allow a minimum of three weeks for processing. The university ensures the confidentiality of student records in accordance with State University System statutes and the Family Education Rights and Privacy Act of 1974, known as the Buckley Amendment.