Helping Students Plan, Apply and Pay for College Get the 411 on Financial Aid Georgia Student Finance Commission 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 a student or parent from a lender or the Federal government to find post-secondary 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. education is the key students of Georgia. Service cancelable loans are loans that can be repaid through service in a field identified by GSFC as a "critical need." If you qualify for a service cancelable loan, GSFA will provide you with the loan to assist you in paying for your education. Upon completing your field of study and working in the "critical need" field in Georgia for an agreed upon period of time, your loan is cancelled. Critical need fields are determined each year by GSFC based on the lack of qualified applicants in those career fields such as Teaching, Health Care, Engineering, and Military (please go to GAcollege411.org for a complete listing) 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, please contact 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 to complete in order to receive an award letter from a school. You must also complete the admissions process. Check the schools' websites or financial aid materials for more information. GSFAPPS Georgia Student Finance Applications is the primary means for applying for most scholarship and grant 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 What about loans? While loans should be the last option that you consider, you should be sure that the lender you are borrowing from offers you the flexibility that you need. Students can apply for all of the loan products offered by Georgia Student Finance Authority (GSFA) by visiting GAcollege411.org. 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 college or university to determine which loan program they participate in. A subsidized loan is where the government pays the interest while the student is in school, during the six-month grace period, and during deferment periods. Subsidized loans are awarded based on financial need. Subsidized Loans disbursed after 07/01/08 have an interest rate of 6.0%. An unsubsidized loan is where the student is responsible for the interest while enrolled in school. Unsubsidized loans disbursed after 07/01/08 have an interest rate of 6.8%. GSFA (lender code 822573) offers a wide range of products and borrower benefits. Our benefits are outlined below: Stafford Loans 0% Origination Fee 0% Default Prevention Fee explore your options at GAcollege411.org How Much Can I Borrow? Annual Limits 1st Year Undergraduate 2nd Year Undergraduate 3rd, 4th or 5th Year Undergraduate Graduate or Professional Student Subsidized and/or Unsubsidized Loan $5,500 - No more than $3,500 can be subsidized $6,500 - No more than $4,500 can be subsidized $7,500 - No more than $5,500 can be subsidized $8,500 * Additional Unsubsidized Stafford Loans may be available. The Financial Aid Office can provide additional information on available loan programs. .50% interest rate reduction for using auto-debit 1% interest rate reduction following graduation at repayment if using auto-debit PLUS Loans & GRAD PLUS Loans 0% Default Prevention Fee .50% interest rate reduction for using auto-debit Service Cancelable Loans Georgia Student Finance Authority is the only lender to offer service cancelable loans to the 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. 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) Eligibility for need-based financial aid programs considers two major factors, college costs and expected family contribution: College 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, enter- tainment, medicine and healthcare, cell phone the information you need 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 Expected Family Contribution A family's ability to financially contribute towards the student's college costs considers several factors: income, assets, household size, number in college, etc. Need Determination: Cost of Attendance (minus) Expected Family Contribution = Need What are my options? For specific information about financial aid programs, and to apply or discover application deadlines, please visit GAcollege411.org and take a look at our program summary chart on the following page. State and Federal Financial Aid Programs Program Objective Scholarships and Grants Georgia's HOPE Scholarship and Grant To provide scholarships and grants to recent high school graduates and to non-traditional students attending public and eligible private institutions in GA. Georgia Tuition Equalization Grant (GTEG) To provide non-repayable funds to Georgia residents attending eligible private colleges in Georgia. Governor's Scholarship To assist students selected as high school valedictorians and STAR Students. North Georgia College & State University ROTC Grant To assist students enrolled in the Army ROTC program at North Georgia College & State University. HERO Scholarship To provide assistance to members of the Georgia National Guard and U.S. Military Reservists who served in combat zones and their children and spouses. Law Enforcement Personnel Dependents Grant To assist children of GA law enforcement officers, firefighters, prison guards, and GA EMT who have been disabled or killed in the line of duty. Under- Georgia graduate/ Residency Graduate Required Application Procedures U Yes Complete GSFAPPS at GAcollege411.org. U Yes Complete GSFAPPS at GAcollege411.org. U Yes Contact your high school counselor. U Yes Complete GSFAPPS at GAcollege411.org. U Yes Apply for a HERO Scholarship online at GAcollege411.org. U Yes Complete GSFAPPS at GAcollege411.org. Academic Year Maximums* Institution Restrictions NeedBased Comments Varies $1,200 (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. Georgia Public Safety Memorial To assist children of GA law enforcement officers, firefight- U Grant ers, prison guards, and GA EMT who have been disabled or killed in the line of duty. Yes Complete GSFAPPS at GAcollege411.org. Varies Eligible Public colleges, universities, technical colleges in Georgia No 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 education U expenses. No Complete the Free Application for Federal Student Aid (FAFSA) at GAcollege411.org. $4,731 N/A Yes Submit additional documents (e.g., tax records) if requested by the school's financial aid administrator. Academic Competitiveness Grant To provide non-repayable funds to students for education U No Complete the Free Application for Federal Student Aid $750 - 1st year academic study N/A (ACG) expenses. (FAFSA) at GAcollege411.org. $1300 - 2nd year academic study Yes Only available for 1st and 2nd year undergraduate students. Please contact the financial aid administrator for other requirements. National Science and Mathematics To provide non-repayable funds to students for education U No Complete the Free Application for Federal Student Aid $4000 for 3rd & 4th year N/A Access to Retain Talent Grant (SMART) expenses. (FAFSA) at GAcollege411.org. 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. Federal Supplemental Educational To provide non-repayable funds to students for education U Opportunity Grant (SEOG) expenses. No Complete the Free Application for Federal Student Aid (FAFSA) at GAcollege411.org. Varies N/A Yes Exceptional need is required. Federal College Work-Study Program To provide jobs for students who must earn part of their U/G 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 educational U Partnership Grant (LEAP) expenses. Yes Complete the Free Application for Federal Student Aid (FAFSA) at GAcollege411.org. Varies Eligible colleges, universities, technical Yes Submit additional documents (e.g., tax records) if requested by the college financial aid colleges, and career colleges in GA administrator. Student and Parent Loans Federal Stafford Loan To provide low-interest repayable funds to students for U/G No Complete the Free Application for Federal Student Aid education expenses. (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 for a Subsidized Stafford Loan is 6.0% fixed. The current interest rate for an Unsubsidized Stafford Loan 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 of dependent undergraduate students. U 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 for U/G No Complete the Free Application for Federal Student Aid educational expenses. (FAFSA) at GAcollege411.org. Varies N/A Yes 5% interest rate. Contact the college financial aid administrator regarding the loan amount. PROMISE Teacher Scholarship Loan To assist students majoring in education. Graduate level U and HOPE Teacher Scholarship Loan students must concentrate in a critical shortage teaching field. G No Complete either the PROMISE (undergraduate) or HOPE $3,000 for undergraduate Yes (graduate) Teacher Scholarship Loan Application online at GAcollege411.org. 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 (e.g., U/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 Cancelable Educational Loan To assist Georgia National Guard members pursuing higher education. U Yes Complete the Georgia National Guard Service Varies Eligible colleges, universities, and No Contact the Georgia Student Finance Authority at (770) 724-9000; Georgia Air National Guard Cancelable Educational Loan Application and promissory (Provides tuition only) technical colleges in Georgia Educational Services Office at (770) 919-4766; or Georgia Army National Guard Educational note online at GAcollege411.org. Services Office at (404) 675-5371. Georgia Military Scholarships To assist Georgia students seeking a military career enrolled at Georgia Military College or North Georgia College & State University. U Yes Complete the college's Military Scholarship Application Amount covers the cost of tu- Georgia Military College or North No Recipients are obligated to serve in the Georgia National Guard after graduation. Contact online at GAcollege411.org. The student must also be ition, fees, room/board, books, Georgia College & State University Georgia Military College or North Georgia College & State University for more information. nominated by a Georgia state legislator. supplies, and uniforms. Scholarship for Engineering Education (SEE) To provide service cancelable loans to engineering students. U Yes Complete the Scholarship for Engineering Education (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. T.E.A.C.H. Grant To assist student who intend to teach in a high-need field U/G of study e.g. Mathematics No Complete the Free Application for Federal Student Aid (FAFSA) at GAcollege411.org. $4,000 Participating colleges, universities, and technical colleges No Contact the college financial aid administrator. Other Georgia Student Finance A variety of programs that serve smaller numbers of U/G Commission scholarship, grant, and students by providing financial assistance for education loan programs expenses. Yes Visit GAcollege411.org for a complete listing of financial aid programs, detailed information, and applications. Varies Eligible colleges and universities No Includes Robert C. Byrd Scholarship, Charles McDaniel Teacher Scholarship, Intellectual Capital Partnership Program (ICAPP) Loans, and more. Programs listed in blue are Georgia Student Finance Commission programs. Information on all programs is available at GAcollege411.org. Award amounts listed are based on the 2008-2009 Academic Year. *Maximum awards shown are subject to change based on the number of students eligible and changes in State appropriations.