Loans Information
Quicklinks
Federal Family Education Loan Program (FFELP)
Subsidized Loan
The Federal Stafford Loan Subsidized is a need-based loan designed to assist students in making loans directly from banks, credit unions, savings and loan associations and other participating lenders. Amount of loans are based upon post-secondary institutions recommendations, but the maximum amounts available to borrow per academic year is $2625 for the first full year of undergraduate study; $3500 for the second full year of undergraduate study; the third and fourth full year, $5500. Repayment begins six months after the borrower leaves school or drops below halftime. Repayment is made over a period of ten years with a minimum payment of $50 per month. Go back to the Forms link, go to Stafford Addendum, complete and print the addendum, send to Financial Aid Office by fax, email, or regular mail.
Unsubsidized Loan
Effective October 1, 1992, this new program is for middle-income borrowers. All students, regardless of income, who meet student eligibility requirements may apply. The amount of the loan is determined by subtracting any estimated financial assistance from the cost of attendance. Annual and aggregate limits are the same as Federal Stafford Loan. Repayment of Principal begins 6 months after the month the student ceases to be at least a half-time student. All unsubsidized loans can be used to replace family contribution.
Parent Loan for Undergraduate Students (PLUS)
The Plus Loan Program provides educational loans to parents on behalf of their dependent son or daughter to help pay for the cost of attending eligible post-secondary institutions. The borrower must be the natural parent, adoptive parent, or legal guardian of a dependent student. Repayment must begin after the funds are disbursed. The parent must make arrangements with the lender to begin installment payments, including interest at a variable rate and deferments. Lenders perform credit checks.
Service Cancelable Loan
The State Direct Student Loan Program provides service cancelable loan assistance to Georgia students enrolled in approved fields of study in which personnel shortages exist in the state. (Fields of study and eligibility requirements are subject to change.) The Georgia Student Finance Authority (GSFA) administers this program. GSFA makes loans to students who are subject to the same eligibility, interest and repayment requirements as other loans made to students by commercial lenders and guaranteed by Georgia Higher Education Assistance Corporation. Each school must receive an appropriation from the state to participate. See Financial Aid Counselor for eligibility and when and how to apply.
Loan Counseling
Stafford Entrance Counseling
Go to Mapping-Your-Future
Go to "Student Loan Counseling Interview" and click on Stafford Entrance. Read and answer the questions (approximately 20 30 minutes). The last thing you do is finish and print the confirmation; the copy for GSW will be sent electronically.
ESTIMATED LOAN REPAYMENT AMOUNTS
The proceeds from the Stafford Loan will not be released until
Entrance Counseling is completed and confirmation of your completion is
received by GSW’s Office of Financial Aid.