Get the 411 on financial aid / GAcollege411

Get the 411 on Financial Aid
2008-2009 School Year
What is the Georgia Student Finance Commission (GSFC)?
GSFC is a state agency committed to helping Georgia residents achieve their higher education dreams by providing a wide range of financial aid services. Since 1965, GSFC has provided billions of dollars in scholarships, grants and education loans to over two million Georgia students. We work closely with high school and college administrators to ensure that Georgia students can take full advantage of the financial aid opportunities provided by the State of Georgia.
What is GAcollege411?
GAcollege411 is a powerful online resource provided by GSFC and its partners. It helps Georgians plan, apply and pay for college. The website is a one-stop-shop where students can:
explore careers build a resume store academic grades, honors, and
high school activities prepare for the SAT, ACT and GRE research Georgia colleges apply online for college admission learn about and apply online for financial aid
GAcollege411 is a free service of the State of Georgia administered by GSFC and is the official source for information regarding scholarships, grants, loans and other financial services.

Basic Financial Aid Terms
Federal financial aid money offered by the federal government to assist eligible students in funding their post-secondary education.
Scholarships money for college that does not have to be repaid. The money can come from many sources, including the government, community groups, schools and corporations. Awards can be based on hobbies, artistic or athletic talent, academic merit and majors.
Grants money available to eligible students based upon financial need, past academic performance, service to the community or special areas of study; does not require repayment.
Education loans money borrowed by the student from a lender to fund his/her postsecondary education; requires repayment with interest.
Service Cancelable Loans student loans which will not have to be repaid if certain conditions are met.
FAFSA Free Application for Federal Student Aid; completed by students and parents/legal guardians to apply for federal financial aid, along with some state programs.
EFC expected family contribution; used to estimate the financial need of the student.
GSFAPPS Georgia Student Finance Applications - financial aid application administered by the Georgia Student Finance Commission that enables students to apply for most state-based financial aid.
PIN Personal Identification Number can be used to electronically sign documents.
SAR Student Aid Report; document you will receive after your FAFSA is processed. Your SAR will contain your expected family contribution.
Work Study Programs Provides jobs to undergraduate and graduate students, allowing them to earn money to pay education expenses.

Educational Costs
The following items should be taken into consideration when determining college costs:
tuition and university-required fees books and supplies housing (be sure to check with your
preferred college if there is a freshman residency requirement) meals transportation personal expenses: clothing, laundry, entertainment, medicine and healthcare, cell phone
Below are some examples of college costs in the state of Georgia: Public Two-Year Technical College
$1,962/year (Athens Technical College, Columbus Technical College) Public Two-Year College $2,267/year (Georgia Perimeter College, East Georgia College) Private Two-Year College $21,150/year (Young Harris College) Public Four-Year College $13,962/year (University of Georgia) Private Four-Year College $37,276/year (Mercer University)

Financial Aid Eligibility
Students must be able to:
demonstrate financial need (for programs such as the Pell Grant or Subsidized Loans), or exhibit academic merit (for programs such as HOPE)
have a high school diploma or general education development certificate (GED)
be enrolled in or accepted to an institution participating in federal financial aid programs
be a U.S. citizen, permanent resident or eligible non-citizen
have a valid social security number meet the drug conviction criteria complete a FAFSA to be evaluated for federal
financial aid not be in default or owe a refund on any
federal student grant or federal student loan register with Selective Service if male
aged 18-25
What are my options?
For specific information about all of these programs and others, and to apply or discover application deadlines, please visit GAcollege411.org and also take a look at our program summary chart on the next page.

What about loans?
Do your own research as to who offers you the best product for the best price.
Lenders differ in the service provided, the borrower benefits, the cost of originating the loan, and other factors.
Certain schools who participate in the Federal Direct Loan (FDL) program do not typically allow a choice of lenders. Please check with your school of choice to determine which loan program they participate in.
GSFC is also a lender (lender code 822573) and can provide your educational loans. We offer a wide range of products and borrower benefits for both federal and private loans. Our benefits are outlined below:
Stafford Loans
Zero Origination Fee Zero Default Prevention Fee .25% interest rate reduction for using
auto-debit 1% interest rate reduction following
graduation at repayment 1% original principal reduction after first
12 on-time payments (payments 1-12) 1% original principal reduction after next
12 on-time payments (payments 13-24) Benefit Repair option after 24 months of
on-time payments
PLUS Loans
Zero Default Prevention Fee 1% interest rate reduction at disbursement .25% interest rate reduction for using
auto-debit Benefit Repair option after 24 months of
on-time payments

2008-2009 State and Federal Financial Aid Programs

Scholarships and Grants

Program

Objective

Under-

Georgia

graduate/ Residency

Graduate Required

Application Procedures

Academic Year Maximums*

Institution Restrictions

NeedBased

Comments

Accel

To allow Georgia high school students to earn col-

U

lege credit while meeting high school graduation

requirements.

Yes

Apply for Accel online at GAcollege411.org or

contact your high school counselor for an

application.

Varies

Eligible colleges, universities, technical colleges, and
career colleges in Georgia

No Recipients must be enrolled in an Accel-eligible high school and an approved Georgia college, earning dual credit for eligible college coursework. Funded by the Georgia Lottery for Education.

Georgia's HOPE Scholarship and To provide scholarships and grants to recent high

U

Grant

school graduates and to non-traditional students at-

tending public and eligible private institutions in GA.

Georgia Tuition Equalization Grant To provide non-repayable funds to Georgia resi-

U

(GTEG)

dents attending eligible private colleges in Georgia.

Governor's Scholarship

To assist students selected as high school valedic-

U

torians and STAR Students.

North Georgia College & State

To assist students enrolled in the Army ROTC pro-

U

University ROTC Grant

gram at North Georgia College & State University.

HERO Scholarship

To provide assistance to members of the Georgia Na-

U

tional Guard and U.S. Military Reservists who served

in combat zones and their children and spouses.

Law Enforcement Personnel

To assist children of GA law enforcement officers,

U

Dependents Grant and Georgia Public Safety Memorial Grant

firefighters, prison guards, and GA EMT who have been disabled or killed in the line of duty.

Yes

Complete GSFAPPS at GAcollege411.org.

Yes

Complete GSFAPPS at GAcollege411.org.

Yes

Contact your high school counselor.

Yes

Complete GSFAPPS at GAcollege411.org.

Yes

Apply for a HERO Scholarship online at

GAcollege411.org.

Yes

Complete GSFAPPS at GAcollege411.org.

Varies
$1,100
(Subject to change)*
$900
(Subject to change)*
$1,500
(Subject to change)*
$2,000
$2,000 (Subject to change)*

Eligible colleges, universities, technical colleges, and
career colleges in Georgia
Eligible private colleges and universities in Georgia
Eligible colleges and universities in Georgia
North Georgia College & State University
Eligible colleges, universities, technical colleges in Georgia
Eligible colleges, universities, technical colleges, and
career colleges in Georgia

No Contact your high school guidance counselor, college financial aid administrator, or GSFC at (770) 724-9000 in Metro Atlanta or toll-free in GA at 1-800-505-4732. Funded by the Georgia Lottery for Education.
No Recipients must be full-time students (12 hours per term).
No Recipients are selected as entering freshmen. Renewable award.
No Contact North Georgia College & State University for more information.
No HERO recipients may receive up to $8,000 for four years of study. Additional documents (e.g., military record) required for submission. Please contact the financial aid administrator at your college for other requirements.
No LEPD recipients may receive up to $8,000 for four years of undergraduate study. The Public Safety Memorial Grant award covers the cost of attendance minus any other aid received; funded by the Georgia Lottery for Education.

Federal Pell Grant

To provide non-repayable funds to students for

U

No

Complete the Free Application for Federal Student

$4,310

N/A

education expenses.

Aid (FAFSA) at GAcollege411.org.

Academic Competitiveness Grant To provide non-repayable funds to students for

U

No

Complete the Free Application for Federal Student $750 - 1st year academic study

N/A

(ACG)

education expenses.

Aid (FAFSA) at GAcollege411.org.

$1300 - 2nd year academic study

National Science and Mathematics To provide non-repayable funds to students for

U

No

Complete the Free Application for Federal Student $4000 for 3rd & 4th year

N/A

Access to Retain Talent Grant (SMART) education expenses.

Aid (FAFSA) at GAcollege411.org.

Federal Supplemental Educational To provide non-repayable funds to students for

U

No

Complete the Free Application for Federal Student

Varies

N/A

Opportunity Grant (SEOG)

education expenses.

Aid (FAFSA) at GAcollege411.org.

Yes Submit additional documents (e.g., tax records) if requested by the school's financial aid administrator.
Yes Only available for 1st and 2nd year undergraduate students. Please contact the financial aid administrator for other requirements.
Yes Students must have at least a 3.0 on a 4.0 scale. Contact the financial aid administrator at your college for other requirements.
Yes Exceptional need is required.

Federal College Work-Study Program

To provide jobs for students who must earn part of

U/G

their educational expenses.

No

Complete the Free Application for Federal Student

Aid (FAFSA) at GAcollege411.org.

Varies

N/A

Yes Contact the college financial aid administrator.

Leveraging Educational Assistance To provide non-repayable funds to students for

Partnership Grant (LEAP)

educational expenses.

U

Yes

Complete the Free Application for Federal Student

Aid (FAFSA) at GAcollege411.org.

Varies

Eligible colleges, universities, technical colleges, and career
colleges in GA

Yes Submit additional documents (e.g., tax records) if requested by the college financial aid administrator.

Federal Stafford Loan

To provide low-interest repayable funds to students

U/G

for education expenses.

No

Complete the Free Application for Federal Student

Aid (FAFSA) and the Federal Stafford Master

Promissory Note (MPN) at GAcollege411.org.

Varies

Participating colleges, universities, technical colleges, and career colleges

Yes**

The current interest rate is 6.8% fixed. ** NOTE: Students who do not demonstrate need may qualify for an Unsubsidized Stafford Loan.

Federal PLUS Loan

To provide low-interest repayable funds to parents

N/A

of dependent undergraduate students.

No

Complete the Free Application for Federal Student

Aid (FAFSA) and the Federal PLUS Loan Master

Promissory Note (MPN) at GAcollege411.org.

Varies

Participating colleges,

No The current interest rate is 8.5% fixed.

universities, technical colleges,

and career colleges

Federal GRAD PLUS Loan

To provide low-interest repayable funds to Graduate Students

G

No

Complete the Free Application for Federal Student

Aid (FAFSA) and the Federal Stafford Master

Promissory Note (MPN) at GAcollege411.org.

Varies

Participating Colleges

No Current interest rate is 8.5% fixed.

Federal Perkins Loan

To provide low-interest repayable funds to students

U/G

for educational expenses.

No

Complete the Free Application for Federal Student

Aid (FAFSA) at GAcollege411.org.

Varies

N/A

Yes 5% interest rate. Contact the college financial aid administrator regarding the loan

amount.

GAcollege Alternative Loan

Provides funds to meet education needs not cov-

U/G

ered by traditional student loans.

No

Apply for a GAcollege Alternative Loan online at

GAcollege411.org.

$1,000 to $25,000

None

No Credit-based loan program, but borrowers without a credit history may use a co-borrower--parent, other relative, or friend--to apply.

PROMISE Teacher Scholarship

To assist students majoring in education. Graduate

U

Loan and HOPE Teacher Scholarship Loan

level students must concentrate in a critical short-

age teaching field.

G

No

Complete either the PROMISE (undergraduate)

$3,000 for undergradu-

Yes

or HOPE (graduate) Teacher Scholarship Loan Application online at GAcollege411.org.

ate study; graduate level awards vary.

Eligible colleges and universities in Georgia

No Contact your college financial aid administrator or the Georgia Student Finance Authority in Metro Atlanta at (770) 724-9000 or toll-free in Georgia at 1-800-505-4732. Funded by the Georgia Lottery for Education.

Georgia Service Cancelable Loans To assist students enrolled in critical fields of study

U/G

(e.g., Nursing, Physical Therapy, Pharmacy, etc.).

Visit GAcollege411.org for a complete listing.

Yes

Complete the Free Application for Federal Student

Aid (FAFSA) and the Federal Stafford Master

Promissory Note (MPN) at GAcollege411.org.

$2,000$4,500

GSFC-approved colleges, universities, and technical
colleges

No Visit GAcollege411.org regarding program requirements, application procedures, loan amounts, and service repayment obligations. You may also contact the college financial aid administrator for information.

Georgia National Guard Service To assist Georgia National Guard members pursu-

U

Cancelable Educational Loan

ing higher education.

Yes

Complete the Georgia National Guard Service

Cancelable Educational Loan Application and

promissory note online at GAcollege411.org.

Varies (Provides tuition only)

Eligible colleges, universities, and technical colleges in
Georgia

No Contact the Georgia Student Finance Authority at (770) 724-9000; Georgia Air National Guard Educational Services Office at (770) 919-4766; or Georgia Army National Guard Educational Services Office at (404) 675-5371.

Georgia Military Scholarships

To assist Georgia students seeking a military

U

career enrolled at Georgia Military College or North

Georgia College & State University.

Yes

Complete the college's Military Scholarship Applica- Amount covers the cost of tu- Georgia Military College or

No Recipients are obligated to serve in the Georgia National Guard after graduation.

tion online at GAcollege411.org. The student must ition, fees, room/board, books, North Georgia College & State

Contact Georgia Military College or North Georgia College & State University for

also be nominated by a Georgia state legislator.

supplies, and uniforms.

University

more information.

Scholarship for Engineering Education

To provide service cancelable loans to engineering

U

students.

Yes

Complete the Scholarship for Engineering Edu-

cation (SEE) Application at GAcollege411.org.

$3,500

Mercer University

No Recipients are obligated to work in Georgia in an engineering field for one year for each $3,000 awarded. Funded by the Georgia Lottery for Education.

Social Work Service Loan Program To provide service cancelable loans to students

U

Yes

Complete the Free Application for Federal Student

$10,000

enrolled in the critical field of social work.

Aid (FAFSA) and the Federal Stafford Master

Promissory Note (MPN) at GAcollege411.org.

Georgia State University

No Recipients must be juniors or seniors seeking a bachelor's degree in social work and are obligated to work as a caseworker for the Georgia Department of Family and Children Services for one year for each $2,500 awarded.

Other Georgia Student Finance

A variety of programs that serve smaller numbers

U/G

Commission scholarship, grant, and loan programs

of students by providing financial assistance for education expenses.

Yes

Visit GAcollege411.org for a complete listing of

financial aid programs, detailed information, and

applications.

Programs listed in blue are Georgia Student Finance Commission programs. Information on all programs is available at GAcollege411.org.

Varies

Eligible colleges and universities

No Includes Robert C. Byrd Scholarship, Charles McDaniel Teacher Scholarship, Intellectual Capital Partnership Program (ICAPP) Loans, and more.

*Maximum awards shown are subject to change based on the number of students eligible and changes in State appropriations.

Student and Parent Loans

GRAD PLUS Loans
Zero Default Prevention Fee 1.25% interest rate reduction at
disbursement .50% interest rate reduction for using
auto-debit Benefit Repair option after 24 months
of on-time payments
GAcollege Alternative Loans
Loan amounts of $1,000 - $25,000 per school year to cover all education related expenses
Interest rate based on your credit score and use of co-borrower
Credit decisions in minutes by phone and online
Up to 20 years to repay depending on the amount borrowed
Minimum monthly payment of $50
How do I apply?
FAFSA:
The Free Application for Federal Student Aid (FAFSA) is the key that opens the door to financial aid. Even if you are not sure that you will need financial aid, we recommend that you fill out a FAFSA anyway -- it's FREE. We recommend that you complete the FAFSA online. Only the directions and data-entry fields you need to complete are displayed. You also get directions as you need them. You can either print the signature page, or you can use the convenient PIN option to sign the FAFSA without using paper.
If you prefer to fill out a paper copy of the FAFSA, you can get one at a high school guidance office, college financial aid office, a public library, or by calling the Federal Student Aid Information Center at (800) 4-FED-AID.

After you complete your FAFSA, look for your Student Aid Report (SAR) in the mail after about 2 to 3 weeks. The SAR is your FAFSA results. Be sure to read it immediately, and follow any directions it has. The schools you list on the FAFSA will also receive the results.
You may log onto GAcollege411's FAFSA Transfer Module to have your name, address, and other information entered automatically for you on the FAFSA on the Web. You then complete the rest of the FAFSA online with income, family size, and other information. You may also go directly to FAFSA on the Web and bypass the Transfer Module if you want to make all the entries yourself.
The FAFSA may not be the only form you need in order to receive an award letter from a school. You must also complete the admissions process. Check the schools' websites or their financial aid materials for more information.
GSFAPPS
Georgia Student Finance Applications is the primary means for applying for most scholarships, grants, or servicecancelable loan programs administered by GSFC. GSFAPPS has been carefully designed to permit an applicant to quickly and accurately complete an application electronically, in a secure mode, and to receive immediate confirmation that the application has been received by GSFC for further processing. The instructions are easy to follow, and the system provides help menus throughout to guide completion of the application.
If you decide not to apply electronically, you can download and print a paper application from GAcollege411.org website, call the Commission at 800-505-4732, or visit your Financial Aid Office. Remember, submitting your application online via

GSFAPPS ensures your application has been completed correctly, and, assuming you meet the eligibility requirements, speeds up the approval process. If you are visually impaired, you can call the Commission at 800-505-4732 to get assistance in completing your application.
Before getting started, you must first be logged into your GAcollege411 account. You need to create an account, BEFORE entering the GSFAPPS program, and be sure your Social Security Number is listed on your account profile.
Use this checklist to help organize the application process.
If the college's application materials did not
include a financial aid application, contact the college's financial aid office and ask for an application. Complete the application and return it to the financial aid office promptly.
Keep a copy of every application you submit,
along with any correspondence you receive.
Investigate private aid sources such as civic
groups, clubs, religious organizations, and businesses.
Complete the Free Application for Federal
Student Aid (FAFSA) as soon as possible after January 1. (Tip: You can complete the FAFSA online at GAcollege411.org.)
If your college's financial aid office requires a
supplemental need analysis form, such as the CSS/FINANCIAL AID PROFILE form, complete it promptly.
If the college's financial aid office has
determined that you will need a loan, follow their application procedures for the Federal Stafford loan and the Federal PLUS loan. The Georgia Student Finance Commission

(GSFC) is a lender at all colleges. Simply apply electronically for a Stafford or PLUS loan at GAcollege411.org.
Do you want to be a nurse, teacher,
engineer or social worker? Investigate service cancelable loans, which allow you to repay your college loan by working in certain critical fields in Georgia.
Alternative loans are another financing
option. Visit GAcollege411.org to apply for a GAcollege Alternative Loan, which can be used to pay for all college-related expenses at competitive interest rates.
If the college's financial aid office asked
you to submit additional documents in connection with your application, confirm that those have been received.
Sign and return your award letter as soon
as you receive it.
Don't forget -- you must apply for financial
aid every year.