College loans 101 : more choices, more options for financing your education

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Colleges use the Free Application for Federal Student Aid (FAFSA) to determine whether you need a loan, as well as your eligibility for federally subsidized student loans . If your application packet from the college did not include a FAFSA , you may access the GSFC Web site, www.gsfc.org, and complete your application on-line . If you prefer to complete the FAFSA manually, contact the college financial aid office and request a copy. Complete the FAFSA as soon as possible after January I and return it to the financial aid office promptly.
If you received financial aid during the previous academic year, a Renewal FAFSA will be mailed to you.
Some colleges ask students to submit an institutional financial aid application or a supplemental form , such as the PROFILE, to be considered for scholarships as well as loans . Check with the financial aid office about their requirements and deadlines to be sure you have completed all the forms necessary to be considered for aid .
If the college you attend is in Georgia, the financial aid office can help you apply for a GSFC Service Cancelable Loan , too . Funding for these loans is limited , so apply early.
Eligibility Requirements
To be eligible for any of the GSFC loans listed in this brochure, you must be a United States citizen, permanent resident alien, or an eligible non-citizen. You must have a high school diploma or equivalent and be enrolled or accepted for enrollment at least half-time in an approved degree or certificate program at an eligible institution.
Additionally, if you are currently enrolled in college, you must be in good standing and making satisfactory academic progress . You must not be in default or owe a refund on any federal education grant or loan unless you have made satisfactory repayment arrangements.
Have A Question?
Please call us at the toll-free number below . We're here to help!
G eo rgia Student Finance C o m m issio n
Lender Code 822573
1-800-776-6878 www.gsfc.org
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Georgia Student Finance Commission
The State of Georgia's Higher Education Lender

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more options for financing your education.

Lookingfor a college loan? The Georgia Student Finance Commission (GSFC) offers you the most choices in Georgia, with the added benefit offast, friendly service. We're here to help!
Stafford Loan (Subsidized)
Based solely on financial need, Subsidized Stafford Loans are insured by the Federal government, which pays all interest on your loan while you're in college at least half-time and for six months after you graduate. Freshmen can borrow up to $2,625 a year; sophomores, $3,500. Juniors, seniors , and fifth-year students can borrow up to $5,500 a year. Graduate students may borrow up to $8,500 a year.
Once you graduate from college or are enrolled less than halftime, you have a six-month grace period before you begin repaying your loan. The interest is figured at a low variable rate that adjusts annually but will never exceed 8.25%. The minimum monthly payment is just $50, and you have up to ten years to repay your loan .
Stafford Loan (Unsubsidized)
If your family income is too high to qualify for a Subsidized Stafford Loan or you need an additional loan, consider an Unsubsidized Stafford Loan. The low interest rate is the same as for the Subsidized Stafford Loan, with loan limits of$4 ,000 to $5,000 a year. Graduate students may borrow $10,000. The big difference is that you must begin paying interest as soon as the loan is made. You have an option, though, of postponing the interest repayment.
PLUS Loan (Parent Loan for Undergraduate Students)
If you're a dependent undergraduate student, your parents can help you by borrowing for your education through the federally insured PLUS Loan Program. Eligibility is not based on your need or family income.

Repa yment begins within 60 days after the loan is fully disbursed. The low interest rate is variable and will not exceed 9%. The maximum repayment period is ten years.
Electronic Account Access for Stafford and PLUS Borrowers
You may check your Stafford or PLUS Loan information at your convenience, any time, at www.gsfc.org. The GSFC Web site provides 24-hour confidential access to your loan application status , disbursement dates and amounts, loan balance, and much more. Stafford borrowers also may log on to complete the entrance-exit loan counseling required by the college.
Service-Cancelable Loan
Did you know you can borrow money for college and repay your loan by working in Georgia after graduation? If you're willing to invest the time, we're willing to pay for your education. Plus , by working in your field of study at an approved Georgia site, you cancel your loan while earning your salary at the same time .
GSFC is the only lender in Georgia that offers service-cancelable loans to Georgia residents. Our service-cancelable loan program is designed for students enrolled at Georgia colleges in "critical fields of study " in which the state needs trained professionals. Critical fields include health care such as nursing, pharmacy, dental hygiene, and physical therapy; engineering and computer programs; and military science programs in which students may repay their loans by serving in the Georgia National Guard.
Georgia First Education LoansM
GSFC also offers an additional financing resource called the Georgia First Education Loan . This creditbased loan for students and parents features a quick and easy five-minute pre-approval on-line at www.gsfc.orgorbyphone at 1-800-416-5177. You can borrow up to $20,000 per school year to cover the current or previous year 's tuition, room and board, books, fees, supplies, and a personal computer.

The Georgia Student Finance Commission isa State agency that has been serving students and their familiessince 1965.
Providing Georgia's Best College Loans