Federal Direct Student Loan

The Federal Direct Student Loan is a low-cost loan based on demonstrated financial need. Unlike Grants and Scholarships, students will need to repay student loans.  Repayment of Federal Direct Student Loans begins six months after you graduate, cease to be enrolled for at least 6 credit hours, or leave school. There are two types of loans:

  1. Subsidized (you repay only the amount of the loan, while the government pays the interest it accrues while you're in school), and
  2. Unsubsidized (you are responsible for repaying the amount of the loan and the interest it accrues while in school, although you can defer payment until after graduation).The interest rate for a subsidized undergraduate Federal Direct Student Loan is generally lower than that of an unsubsidized loan.

Before accepting a student loan, determine how much you can afford to borrow by clicking on these helpful links:

Federal Direct Student Loans will be pre-packaged to all student accounts. The award amounts will be visible in BannerWeb. Upon acceptance of the Federal Direct Student Loan, you will receive an award letter via student email.

Click below for Instructions:

Instructions to Accept or Decline the Offer of Student Loans

Federal Direct loans take approximately 4-6 weeks to process.  If you anticipate need for a loan to help cover tuition, fees, or dormitory charges, please allow sufficient time to process the loan.

****Please note: Federal Regulations require students, who choose to accept a Federal Direct Student Loan, to complete both Entrance Counseling and a Master Promissory Note.  Students can complete these requirements by visiting www.studentloans.gov. Federal Direct Student Loans will not disburse to student accounts until both requirements have been met.


Student Access Loan Program (SAL)

The Student Access Loan Program (SAL) is a need-based, low interest loan program available to qualified Georgia residents who are enrolled in a certificate, diploma, or degree program.  SAL is intended to help cover the gap in tuition costs, fees, and books.  Students must be enrolled in at least 6 credit hours in their program of study and meet all other eligibility requirements to receive SAL.  To apply, a student must complete the FAFSA and the SAL Application available at www.gacollege411.org.

SAL Loan Forgiveness is available to qualified students who graduate from his/her program of study with at least a 3.5 cumulative grade point average.  For more information, students are encouraged to visit www.gacollege411.org.


Private Loans

Private Loans are loans you receive through private credit unions, banks, etc. Private loans are typically given directly to students and have a higher interest rate than federal loans, so the amount you want to borrow may impact how many lender choices you have. An important thing to understand about this type of loan is that just because you've been approved for a loan one year, does not mean that you will be the next. You will have to re-qualify for each one.

The following link may be used as a starting point to compare lenders: http://privatestudentloans.com/lenders/