t;A Si~O .'$ \ \S .;bS-l.t,0 A Guide to Student Financial Aid in Georgia for the 2005-2006 school year Sonny Perdue, GovERNOR Georgia Student finance Commission Loans Scholarships Grants Giving Students Financial Choices Since 1965 www.gsfc.org 1-800-505-GSFC (4732) Meeting Educational Costs If you are planning for education beyond high school , you should do a little research first. Find out how much it will cost to go to college , what part of that cost you and your family will be expected to pay, and what types of financial aid are available. Use the following outline to get started. How much does it cost to attend a college or technical college? Educational costs can differ significantly from one school to another, depending on the type of college you select and your program of study. In general , costs are lowest at a public technical college , higher at a two-year community/ junior college , still higher at a public four-year college or university, and highest at a private college or university. The total cost of attending college today may range from about $4,500 per year to more than $40,000 per year. Financial aid programs have been developed to help you pay for these costs. Colleges with higher costs often have more financial aid available than less expensive schools. Compare the cost and available financial aid at different schools. But remember, selecting a college should be based not only on educational costs. Consider your career goals and educational needs in making your decision. What do educational costs include? The total educational costs of attending a college include : (I) tu ition and fees ; (2) books and supplies; (3) housing ; (4) board (meals); (5) transportation ; and (6) personal expenses such as clothes , laundry, recreation , and medicine and health care. What is the family's share? The primary responsibility for financing an education rests with the student and his or her family . The family is expected to make a maximum effort to assist the student with college expenses. Financial assistance should be viewed as supplementary to the efforts of the family. The student also has a responsibility to contribute to his or her college expenses from sources that may include savings , summer earnings, monetary gifts from friends and relatives , or other sources. Students receiving aid are expected to use part of their summer earnings toward defraying college costs. Who determines how much my family is expected to pay toward educational costs? Colleges, government agencies, and organizations that award financial aid determine how much a family is expected to pay toward attendance costs , using a process called need analysis. In order to estimate your expected family contribution , you and your parents should complete the Free Application for Federal Student Aid (FAFSA). This form asks for information about the income, expenses, and assets you and your family have. (Check with the college financial aid office to see if a supplemental need analysis form is also required .) How is the expected family contribution determined? The expected family contribution is based primarily on your family's income and assets. However, certain allowances are considered and subtracted from total income and assets. These allowances include amounts for a standard cost of living, the number of household members, future retirement needs, and other factors . Additionally, part of your own assets and income from part-time or summer work is considered available for school expenses. Your contribution is added to that of your parents to obtain the expected family contribution . What is financial aid? Financial aid is money awarded to a student to help pay educational costs. Most financial aid is awarded according to individual need and educational costs. The federal government, the state government, and postsecondary schools provide financial aid to eligible students in the form of grants/scholarships, loans, and employment. A grant/scholarship is money awarded as financial aid that requires no repayment. A loan is money borrowed from a commercial lender, a governmental agency, or a postsecondary school that must be repaid-the amount borrowed plus interest. Student employment can be a job that the college has found for you on or off campus or work that you have obtained on your own initiative. Additionally , you should investigate private aid sources such as civic groups, clubs , religious organizations, and businesses that may offer scholarships and loans. On what basis is financial aid awarded? Most financial aid is awarded on the basis of financial need . Total educational costs minus the expected family contribution equals need. Financial aid programs based on financial need are generally referred to as need-based programs. Awards based on other factors such as achievement in academics, sports, or music are called non-need-based programs. All Federal and State of Georgia student financial aid programs have special requirements regarding U.S. citizenship , and many State programs have Georgia residency requirements. Final eligibility decisions regarding citizenship and Georgia residency are made by the financial aid office at the college the student is attending. How much financial aid can I receive, and when should I apply? The total financial aid awarded to a student cannot exceed the college 's cost of attendance. Because of limited funds and eligibility requirements , a student's total financial need D cannot always be met. For the best chance at receiving aid , apply as quickly as possible after January 1. Also , check with the college financial aid office to see what the deadline date is for scholarship consideration at that school. At some schools the deadline is very early in a student's senior year in high school. The table on pages 3 and 4 lists the major State and Federal financial aid programs, along with eligibility requirements , application deadlines, and procedures. Additionally, many colleges provide loans, scholarships, and other aid (such as campus jobs) not listed in this booklet. Be sure to contact the school financial aid office to look into all the possibilities. Should I use a scholarship search service? Before you and your family make the decision to pay a scholarship search service to provide you with financial aid information , you should investigate the information that is available at no cost from you r high school counselor, college financial aid office , your public library, many Web sites, and the Georgia Student Finance Commission. This could save you hundreds of dollars. Several Web sites are listed on page 8. Federal Education Loan Programs Low-interest Federal education loans can help if you and your family find that savings and scholarships fall short of covering your college costs. The Federal government administers two categories of loan programs to help students and parents pay for the cost of postsecondary education . Known collectively as the Federal Family Education Loan Program (FFELP) and the Federal Direct Loan Program , these programs allow students and parents to borrow money to help pay the cost of higher education . The loan eligibility requ irements, maximum amounts, and repayment obligations are the same for the FFELP and Federal Direct programs. The difference is in what entity acts as the lender and makes the loan . Under the Federal Family Education Loan Program , the Federal Stafford and PLUS loans are made by the Georgia Student Finance Commission (GSFC), banks, savings and loan associations, and credit unions. Under the Federal Direct Loan Program, the Federal government will make the Federal Stafford and PLUS loans to students and parents through the school. What is a Federal Stafford Loan? Federal Stafford loans allow students to borrow money at a low interest rate for educational expenses. There are two types of Federal Stafford loans. The first, the subsidized Federal Stafford loan, is based on need . The interest on the loan is subsidized , which means Federal Education Loan Interest Rates (July 1, 2004 - June 30, 2005) Stafford Loans: 2.77% while in school; 3.37% in repayment PLUS Loans: 4.17% Note: These interest rates can change once a year, on July 1st. The rates are based on the bond equivalent rate of the 91-day Treasury bills auctioned at the final auction held before June 1st each year. If you receive a loan after June 30, 2005, your interest rate may be different than those above. You can check current interest rates at www.gsfc.org or by calling GSFC at (800) 505-GSFC. that the Federal government will pay the interest for you while you are in school , during your grace period after you leave school or graduate, and during deferment periods. The second type of Federal Stafford loan is unsubsidized . The amount you are eligible to receive is not based on your financial need . However, you will be responsible for paying the interest on your loan from the date the money is disbursed to you . How much can I borrow? The amount you may borrow through Federal Stafford loans is determined by the college's financial aid officer. Maximum Stafford Loan Amounts Undergraduate Level - Annual Amount Base Subsidized & Unsubsidized Additional Unsubsidized First Year Second Year Third Year & Beyond $2 ,625 3,500 5,500 $4 ,000 4,000 5,000 Undergraduate Aggregate : $23,000 for dependent students; $46,000 for independent students Graduate/Professional - Annual Amount Base Subsidized & Unsubsidized Addi ti onal Unsubsid ized All Levels $8 ,500 $10 ,000 Undergraduate/Graduate Aggregate: $138,500 Loan amounts will be prorated for students enrolled in programs of less than one year in length. How do I apply for a Federal Stafford Loan? First, you must complete the Free Application for Federal Student Aid (FAFSA) and have your results sent to the financial aid offices of the colleges to which you are applying for admission and financial assistance. Each financial aid office then determines whether you are eligible for a subsidized or unsubsidized Stafford loan and , if so, includes the type of loan(s) and amount(s) in your financial aid award package . When you decide which college you wish to attend and accept its offer of financial assistance , the school can (Continues on page 5) ,, Georgia Student Finance Commission Programs STATE AND FEDERAL Program Objective Under- Georgia Graduate/ Residency Graduate Required Application Procedures Scholarships and Grants , , Georgia's HOPE Scholarship and Grant To provide scholarships and grants to u recent high school graduates and non- traditional students attending public and eligible private institutions in Georgia . , , Georgia Tuition Equalization To provide non-repayable funds to u Grant (GTEG) Georgia residents attending eligible private institutions in Georgia. , , Governor's Scholarship To assist students selected as high school u valedictorians and STAR Students. , , North Georgia College & To assist students enrolled in the Army u State University ROTC Grant ROTC program at North Georgia College & State University. , , Law Enforcement Personnel To assist children of Georgia law enforce- u Dependents Grant (LEPO) ment officers, fire fighters, prison guards , and Georgia Public Safety and Georgia public safety officers who Memorial Grant have been permanently disabled or killed in the line of duty. Federal Pell Grant To provide non-repayable funds to u students for educational expenses. Federal Supplemental To provide non-repayable funds to u Educational Opportunity students for educational expenses. Grant (SEOG) Federal College Work-Study To provide jobs for students who must U/G earn part of their educational expenses. , , Leveraging Educational To provide non-repayable funds to u Assistance Partnership students for educational expenses. (LEAP) Grant - , Acee! To allow Georgia high school students to u earn college credit while meeting high school graduation requirements . Yes Contact the school's financial aid office for the appropriate application. Yes Complete the e-TEG electronic application on the GSFC Web site at www.gsfc.org. Yes Contact your high school counselor. Yes Complete the North Georgia College & State University ROTC Grant Application. Yes Complete the Georgia Public Safety Memorial GranULEPD Grant Application. No Complete the Free Application for Federal Student Aid (FAFSA). No Complete the Free Application for Federal Student Aid (FAFSA). No Complete the Free Application for Federal Student Aid (FAFSA). Yes Complete the Free Application for Federal Student Aid (FAFSA). Yes Contact your high school counselor for an application. Student and Parent Loans , , Federal Stafford Loan : To provide low-interest repayable funds to U/G A Federal Family Education students for educational expenses. Loan Program (FFELP) , , Federal PLUS Loan : To provide low-interest repayable funds to N/A A Federal Family Education parents of dependent undergraduate Loan Program (FFELP) students. Federal Direct Loans : Stafford To provide low-interest repayable funds to U/G Loan and PLUS Loan students and parents for educational expenses. Federal Perkins Loan To provide low-interest repayable funds to U/G students for educational expenses. , , Georgia 1st Education Loan Provides funds to meet education needs U/G not covered by traditional student loans. , , PROMISE Teacher Scholar- To assist students majoring in education. u ship Loan and HOPE Teacher Graduate level students must concentrate Scholarship Loan in a critical shortage teaching field. G , , Georgia Service-Cancelable To assist students enrolled in critical fields U/ G Loans of study (e.g. , Nursing, Physical Therapy, Pharmacy, etc.). , , Georgia National Guard To assist Georgia National Guard members u Service-Cancel able pursuing higher education . Educational Loan , , Georgia Military Scholarships To assist Georgia students seeking a u military career enrolled at Georgia Military College or North Georgia College & State University. , , Scholarship for Engineering To provide service-cancelable loans to u Education (SEE) engineering students. , , Other Georgia Student Finance Includes Robert C. Byrd Scholarships and U/G Commission scholarship, grant, Intellectual Capital Partnership Program and loan programs ( ICAPP ). No Complete the Free Application for Federal Student Aid and the Federal Stafford Master Promissory Note (M PN ). No Complete the Free Application for Federal Student Aid (FAFSA) and the Federal PLUS Loan Application . No Complete the Free Application for Federal Student Aid (FAFSA). No Complete the Free Application for Federal Student Aid (FAFSA). No Apply on-line at www.gsfc.org (see the loans section) or call 1-800-416-5177. No Complete either the PROMISE (undergraduate) or HOPE (graduate) Yes Teacher Scholarship Application . Yes Complete the Free Application for Federal Student Aid and the Federal Stafford Master Promissory Note (MPN). Yes Complete the Georgia National Guard Service-Cancelable Educational Loan Application and promissory note. Yes Complete the college's Military Scholarship Application. The student must also be nominated by a Georgia state legislator. Yes Complete the Scholarship for Engineer- ing Education (SEE) Application . Yes Contact the Georgia Student Finance Commission for the appropriate application . I) FINANCIAL AID PROGRAMS * Maximum awards shown are subject to change based on the number of students eligible and changes in State appropriations. Academic Year Maximums* Institution Restrictions NeedBased Comments Scholarships and Grants Varies Eligible colleges , universities , No Contact your high school guidance counse lor, college financial aid and technical colleges administrator, or GSFC at (770) 724-9000 in Metro Atlanta or toll-free in in Georgia Georgia at 1-800-505-GSFC (4732). Funded by the Georgia Lottery for Education . $900 (Subject to change)* Eligible private colleges and universities in Georgia No Recipients must be full-time students (12 hours per term). $804 Eligible colleges and No Recipients are selected as entering freshmen . Renewable award. (Subject to change)* universities in Georgia [ $970 North Georgia College No Contact North Georgia College & State University for more information. (Subject to change)* & State University Varies Eligible colleges , universities, No LEPO recipients may receive up to $8,000 for four years of undergraduate and technical colleges study. The Public Safety Memorial Grant award covers the cost of in Georgia attendance minus any other aid received; funded by the Georgia Lottery for Education. $4,050 Varies N/A Yes Submit additional documents (e.g ., tax records) if requested by the school's financial aid administrator. N/A Yes Exce ptional need is required . Varies N/A Yes Contact the school's financial aid administrator. $2 ,000 Varies Eligible colleges , universities, Yes Submit additional documents (e.g. , tax records) if requested by the school 's and technical colleges financial aid administrator. in Georgia Eligible colleges, universities , No Recipients must be enrolled in an Accel-eligible high school and an and technical colleges approved Georgia college, earning dual credit for eligible college in Georgia coursework. Funded by the Georgia Lottery for Education. Student and Parent Loans Varies Participating FFELP colleges, universities, and technical colleges Yes ** The current rate is 2.77%, variable, not to exceed 8.25%. (See box on page 2.) ** NOTE: Students who do not demonstrate need may qualify for an Unsubsidized Federal Stafford Loan with in-school interest payments. Varies Participating FFELP colleges, No The current rate is 4.17% , variable , not to exceed 9%. (See box on page 2 universities, and technical for an explanation of how Federal Education Loan interest rates are set and colleges when they change each year.) Varies Varies Participating Direct Loan colleges, universities, and technical colleges N/A Yes** Yes Variable interest rate up to 8.25%. ** NOTE : Students who do not demonstrate need may qualify for an Unsubsidized Direct Loan with in-school interest payments. 5% interest rate. Contact the school's financial aid administrator regarding the loan amount. $1 ,000 to $25 ,000 None No Credit-based loan program , but borrowers without a credit history may use up to two co-borrowers - parent, other relative, or friend-to apply. ! $3,000 for undergraduate study; graduate level awards vary. $2,000-$4,500 Eligible colleges and universities in Georgia GSFC-approved 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-GSFC (4732 ). Funded by the Georgia Lottery for Education. No Contact the school 's financial aid administrator regarding additional col leges, universities, requirements, application procedures, and loan amounts. and technical col leges Varies Eligible colleges, universities, No Contact the Georgia Student Finance Authority at (770) 724-9000; Georgia (Provides tuition only} and technical colleges Air National Guard Educational Services Office at (770) 919-4766; or Georgia in Georgia Army National Guard Educational Services Office at (404) 675-5371. An amount that covers the cost of tuition, fees, room/board , books, supplies, and uniforms. Georgia Military College or North Georgia College & State University No Recipients are obligated to serve in the Georgia National Guard after graduation. Contact Georgia Military College or North Georgia College & State University for more information . $3,500 Mercer University No Recipients are obligated to work in Georgia in an engineering field one year for each $3,000 awarded. Funded by the Georgia Lottery for Education . Varies Eligible colleges and universities No Contact the Georgia Student Finance Commission at 1-800-505-GSFC (4732). I] Federal Education Loan Programs (Continued from page 2) certify you as eligible for a Stafford loan . Colleges that are not participating in the Federal Direct Loan Program will provide you with a list of lenders to consider; you may choose one of these or another lender of your preference . Once you select a lender, follow the directions from your college to complete the loan process. Many lenders, including the Georgia Student Finance Commission (GSFC) , offer borrower incentives that can save you a substantial amount of money over the life of your loan. Benefits vary between lenders, so evaluate your choices carefully. For information about the borrower incentives offered by GSFC, please visit the Web site at www.gsfc.org. How do I repay my Federal Stafford Loan? Repayment must begin no later than six months following graduation or term ination of at least half-time study. You must make arrangements with your lender to make payments, including interest. The interest rate is variable (8.25% maximum ; please see the current loan rates in the box on page 2) , adjusted annually over the life of the loan. Ask you r lender for additional information on repayment te rms and conditions. What is a Federal PLUS Loan? The Federal PLUS Loan Program provides loans to the parents of dependent students. Financial need is not an eligibility requirement, but good credit is required . Most schools require students to apply for a Federal Stafford loan before the parents apply for a PLUS loan . Note: A dependent student may apply for an unsubsidized Federal Stafford loan if his or her parents are unable to obtain a Federal PLUS loan because of their credit history. How much can my parents borrow? Your parents' maximum Federal PLUS loan will be an amount equal to your annual cost of attendance minus any other aid you are receiving . There is no aggregate limit. How do my parents apply for a Federal PLUS Loan? To apply for a Federal PLUS loan, your parents should contact the financial aid office at the college you will be attending. You must be classified as a dependent student before your parents can apply for a PLUS loan . How is a Federal PLUS Loan repaid? Federal PLUS loan repayment differs from the Stafford loan in that your parents must begin repayment 60 days after the loan is fully disbursed. The PLUS loan has a variable interest rate (9% maximum ; please see the current loan rates in the box on page 2) that is adjusted annually over the life of the loan . Ask your lender for additional information on repayment terms and conditions. Georgia 1st: An Alternative Education Loan Program Sometimes the traditional methods of funding a college education-family savings, scholarships, grants , and Federal education loans-are not enough to cover all your college expenses. There are limits on the amount you may borrow through Federal education loans, based on the college's estimated cost of attendance as determined by the financial aid office. However, some education-related costs such as a personal computer may not be included in these calculations . If your available funds fall short of meeting all your college costs, an alternative loan can bridge the gap . These loans are made by various lenders and are not guaranteed by the Federal government. What is Georgia 1st? Georgia 1st is an alternative education loan with competitive interest rates offered by the Georgia Student Finance Commission. The loan can be used for undergraduate or graduate study at a college , university, technical college, or professional institution. Georgia 1st is a credit-based program , but you don't have to have a credit history to apply. You may have up to two co-signers-parent, other relative, or friend-on your loan application to help you secure the funds you need. How much can my parents or I borrow? Georgia 1st is a very flexible loan program designed to meet a wide range of needs. The minimum loan amount per school year is $1 ,000, and the maximum per year is $25 ,000. The aggregate maximum that can be borrowed for your education is $100,000. How do I apply? You can apply for a Georgia 1st Education Loan by calling 1-800-416-5177 or by visiting www.gsfc.org. The credit decision is made instantly, and the loan will be disbursed within 24 hours of final approval. How is a Georgia 1st Education Loan repaid? Georgia 1st repayment terms are flexible, offering several plans to fit your budget. The interest rate you will pay is very competitive and is based on your credit category. The interest rate will be reduced if you choose the Georgia 1st auto-payment option. Service-Cancelable Loans Did you know that you may be able to repay all or part of your college loans by working after you graduate? You earn a salary while repaying your education loan through service . The Georgia Student Finance Commission (GSFC) is the only lender in Georgia that provides these "service-cancelable" loans. What service-cancelable loans are available? GSFC offers a variety of service-cancelable loans. Some are occupation specific, such as teaching , nursing , dental hygiene , and veterinary medicine . Other loans are school specific, meaning that they can be used for study only at certain colleges and universities . You repay your loan by working in Georgia in your chosen field , while receiving a salary, or through military service, depending on the loan program. The length of service required is based on the dollar amount of your loan or the number of years you received loan assistance. If you are unable to repay your loan through service cancelation , the loan must be repaid in monthly cash payments, plus interest. Critical Fields Service-Cancelable Stafford Loans In addition to standard Stafford loans, GSFC offers the Service-Cancelable Stafford Loan , a Federal Stafford loan with a service cancelation option for students enrolled in a "critical field of study." These fields of study lead to employment in occupations in which Georgia does not have enough trained professionals. This loan has the same eligibility requirements, set by federal regulations , as all other Federal Stafford loans. Additionally, you must meet the GSFC requirements for residency, program of study, grade point average, etc. To be eligible for a service-cancelable Stafford loan, you must be accepted for admission to or enrolled in an approved program of study. The approved critical fields for the 2004-2005 academic year are: Agriculture Education Nursing (various levels & Dental Hygiene programs) Dentistry Occupational therapy Dietetics (Food & Nutrition) Optometry Gerontology Pharmacy Health Information Physical Therapy Management Physician Assistant Laboratory Technology Radiologic Technology Medical Technology Respiratory Therapy Nurse Anesthesia Veterinary Medicine Depending on the specific critical field , loans are available for graduate study as well as undergraduate study. Note: The approved critical fields may change annually. For more information on approved critical fields , contact GSFC by calling 1-800-505-GSFC (4732) or by visiting www.gsfc.org. Current members of the Georgia National Guard may enroll in any field of undergraduate study and repay their service-cancelable Stafford loan through continued service. To apply for a service-cancelable Stafford loan, contact the financial aid office at the school you plan to attend. Teaching Service-Cancelable Loans The Georgia Lottery for Education funds two servicecancelable loan programs for students who want to be classroom teachers: the PROMISE Teacher Scholarship Loan and the HOPE Teacher Scholarship Loan . The college or university you attend must be in Georgia, and you must commit to teach in a Georgia public school classroom after graduation to repay your loan . The PROMISE Teacher Scholarship Loan is for college juniors and seniors who have a 3.0 grade point average and are enrolled in an approved teacher education program leading to initial certification. This loan also may be used by students who have a bachelor's degree that is not in education and are seeking a second bachelo r's degree in education. The HOPE Teacher Scholarship Loan may be used for graduate study in an approved critical shortage teaching field , such as Mathematics Education , Foreign Lang uage Education , or Education of Exceptional Chi ldren. You must be a Georgia resident and be fully admitted into an approved advanced degree teacher education program in one of the critical shortage fields . Visit the GSFC Web site at www.gsfc.org for a complete list of approved critical shortage areas. A third teaching service-cancelable loan program is funded by the U.S . Department of Education . The new Destination Teaching Program is targeted at prepari ng second career candidates and paraprofessionals to become certified teachers through study at designated public colleges and universities in Georgia. Recipients repay this loan by teaching in a high-need school within a high-need school district in Georgia. Contact GSFC for additional information . Engineering Service-Cancelable Loans The Georgia Lottery for Education funds the Scholarship for Engineering Education , which provides servicecancelable scholarship loans for undergraduate engineering students enrolled full-time at a private accredited university. Recipients must meet certain eligibility requ irements, including U.S. citizenship and Georgia residency, and maintain a minimum grade point average. You must agree to work in an engineering-related field in Georgia after graduation . Currently Mercer University is the only university eligible for participation in the program . Contact GSFC for application information . Military Service-Cancelable Loans GSFC offers two military scholarship loan prog rams for students who are attending one of Georgia's two military colleges: the four-year North Georgia College & State University Military Scholarship Loan and the two-year Georgia Military College State Service Scholarship Loan . Both programs award an amount equal to full tuition , fees , room and board , books and supplies , and uniforms. m The scholarships are competitive , and applicants must be nominated by a Georgia state legislator. You also must meet eligibility requirements, including U.S . citizenship and Georgia residency, grade point average , SAT or ACT score minimums, and physical requirements . To repay the loan , you must serve in the Georgia National Guard after graduation. Contact the college for application information . Financial Aid Application Checklist The key to receiving financial aid is planning. You should investigate all potential sources of aid : Federal , State, institutional (aid that is awarded by the college itself), and private. There is a great deal of competition for scholarships, and the earlier you apply, the better chance you will have of being considered for one. Be sure to read the requirements carefully and follow the application instructions exactly. Meeting application deadlines is critical. Allow plenty of time for mailing . And even if you are not sure you have the grades and community service to be a strong applicant, apply anyway. You definitely won 't receive financial aid if you don't apply! 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 with regard to it. Investigate private aid sources such as civic groups, clubs , relig ious organizations, and businesses. Search the Internet for scholarships. Some helpful sites are: Georgia Student Finance Commission www.gsfc.org Database for Private Scholarships www.fastweb.com Database for Scholarships (all types) www.finaid.org Georgia Career Information Center www.gcic.peachnet.edu Complete the Free Application for Federal Student Aid (FAFSA) as soon as possible after January 1. After four to six weeks you will receive the Student Aid Report (SAR). The SAR has several parts ; review all of them for accuracy. Follow the instructions to make any corrections. Then, if the school(s) to which you are applying require you to submit the SAR, sign the appropriate section and send it to the college's financial aid administrator. Please note: the college may require that a copy of the student's and/or parent's federal income tax form 1040, 1040A, or 1040EZ be sent along with the SAR. Students who received financial aid during the previous academic year may complete the Renewal FAFSA that will be mailed to them . If required by your college's financial aid office, complete a supplemental form , such as the PROFILE form . Contact your high school counselor for more details. If the college 's financial aid office has determined that you will need a loan , contact the financial aid administrator about the application procedures for the Federal Stafford loans as well as the Federal PLUS loan. Check with the Georgia Student Finance Commission on the benefits of financing your education with a servicecancelable loan if you plan to study in an approved critical field . Alternative loans are another financing option . Call 1-800-416-5177 or visit www.gsfc.org to apply for a Georgia 1st Education Loan , which can be used to pay for all college-related expenses at competi tive interest rates . If the college's financial aid office requested that you submit additional documents in connection with your application , confirm that those have been received . "I~ Georgia Student finance Commission Loans Scholarships Grants Giving Students Financial Choices Since 1965 www.gsfc.org 1-800-505-GSFC (4732) H-07 (08/04)