A Guide to Student Financial Aid in Georgia for the 2007-2008 school year Get the 411 on how to Pay for College at GAcollege411.org. What is GAcollege411.org? GAcollege411.org is an online resource provided by the Georgia Student Finance Commission, the Office of the Governor and numerous other partners from the higher education community that will help you plan, apply and pay for college! This Guide to Student Financial Aid in Georgia will answer some basic questions about the real costs of higher education and what kinds of grants and scholarships are available to you. It will direct you to the appropriate places on GAcollege411.org where you can determine the grants and scholarships for which you qualify. It also provides information about affordable student loans and what you need to do to take advantage of these resources. What do educational costs include? The total educational costs of attending a college include: (1) tuition and fees; (2) books and supplies; (3) housing; (4) board (meals); (5) transportation; and (6) personal expenses such as clothes, laundry, recreation, medicine and health care. How much is my family expected to pay? You and your family have the primary responsibility for financing your education. Your family is expected to make a maximum effort to help with college expenses, and you have a responsibility to contribute from your savings and any part-time or summer job you have. Colleges, government agencies, and organizations that award financial aid determine how much a family is expected to pay toward attendance costs by using a process called need analysis. You and your parents provide the need analysis information by completing the Free Application for Federal Student Aid (FAFSA), which asks about income, expenses, and assets. The FAFSA is available online in the Applications and Transcripts tab of GAcollege411.org. The need analysis process uses a formula to determine the expected family contribution (EFC), considering the family's total income and assets and providing certain allowances for a standard cost of living, the number of household members, future retirement needs, and other factors. You can get a preliminary EFC by using the PAIS calculator in the Tools and Calculators section under the Paying for College tab on GAcollege411.org. At some colleges you must also complete a supplemental need analysis form; check with the college financial aid office to see if this is a requirement. What is financial aid? Financial aid is money awarded to a student to help pay educational costs in the form of: Scholarships or grants "gift aid" that does not require repayment. Loans borrowed money that must be repaid with interest. Employment a job on campus (work-study, provided through the college) or off campus (a job you have found on your own). The Federal government, the State government, and colleges provide financial aid to students. Also, financial aid is available from private sources such as civic groups, clubs, religious organizations, and businesses, generally in the form of a limited number of scholarships or loans. (continued on back cover) On what basis is financial aid awarded? Most financial aid is awarded on the basis of financial need; these programs are generally referred to as needbased programs. Your need is determined by subtracting the expected family contribution from the total educational costs to attend the college you have selected. Financial aid, usually in the form of scholarships, is also awarded based on other factors such as achievement in academics, sports, or music. These are called merit-based or non-need-based aid programs. Citizenship and residency may impact eligibility for aid. 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. How much financial aid can I receive, and when should I apply? Simply put, the total financial aid awarded to a student cannot exceed the college's cost of attendance. You will have the best chance of receiving aid by applying early. Check with the college financial aid office to see what the deadline is for scholarship consideration. Financial Aid Application Checklist The key to receiving financial aid is planning. GAcollege411.org is a valuable tool for success. In addition to providing a vast amount of information, the site enables you to create a "My 411" account to track your progress through your college and financial aid search and application process. 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.) After four to six weeks you will receive a paper 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 H-07 (07/06) are applying require you to submit the SAR, sign the appropriate section and send it to the college's financial aid office. If your college's financial aid office requires a supplemental need anaysis form, such as the PROFILE, 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 that do not participate in the Federal Direct Loan Program. Simply apply electronically for a Stafford or PLUS loan at GAcollege411.org. Investigate service cancelable loans, which allow you to repay your college loan by working in certain critical fields in Georgia. The Paying for College tab of GAcollege411.org provides information on the Georgia Student Finance Commission service cancelable loan programs and lists the eligible fields. Alternative loans are another financing option. Visit GAcollege411.org to apply for a Georgia First Education 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. Georgia Student Finance Commission Loans Scholarships Grants Giving Students Financial Choices since 1965 GAcollege411 is a service of the State of Georgia provided by the Georgia Student Finance Commission, the Office of the Governor, and many other partners. 2007-2008 State and Federal Financial Aid Programs Program Objective Under- Georgia graduate/ Residency Graduate Required Application Procedures Academic Year Maximums* Institution Restrictions NeedBased Comments Scholarships and Grants Accel To allow Georgia high school students to earn col- U lege credit while meeting high school graduation requirements. 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 U National Guard and U.S. Military Reservists who served in combat zones and their children. Law Enforcement Personnel To assist children of GA law enforcement officers, U Dependents Grant and Georgia firefighters, prison guards, and GA EMT who have Public Safety Memorial Grant been disabled or killed in the line of duty. Federal Pell Grant To provide non-repayable funds to students for U education expenses. Academic Competitiveness Grant To provide non-repayable funds to students for U education expenses. National Science and Mathematics To provide non-repayable funds to students for U Access to Retain Talent Grant education expenses. Federal Supplemental Educational To provide non-repayable funds to students for U Opportunity Grant education expenses. Federal College Work-Study To provide jobs for students who must earn part of U/G their educational expenses. Leveraging Educational Assistance To provide non-repayable funds to students for U Partnership Grant educational expenses. 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. Yes Complete GSFAPPS at GAcollege411.org. Varies 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-GSFC (4732). Funded by the Georgia Lottery for Education. Yes Complete GSFAPPS at GAcollege411.org. $1,000 (Subject to change)* Eligible private colleges and universities in Georgia No Recipients must be full-time students (12 hours per term). Yes Contact your high school counselor. $900 (Subject to change)* Eligible colleges and universities in Georgia No Recipients are selected as entering freshmen. Renewable award. Yes Complete GSFAPPS at GAcollege411.org. $1,500 (Subject to change)* North Georgia College & State University No Contact North Georgia College & State University for more information. Yes Apply for a HERO Scholarship online at GAcollege411.org. $2,000 Eligible colleges, universities, technical colleges, and career colleges in Georgia No Additional documents (e.g., military record) required for submission. Please contact the financial aid administrator at your college for other requirements. Yes Complete GSFAPPS at GAcollege411.org. $2,000 (Subject to change)* Eligible colleges, universities, technical colleges, and career colleges in Georgia 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. No Complete the Free Application for Federal Student Aid (FAFSA) at GAcollege411.org. $4,050 N/A Yes Submit additional documents (e.g., tax records) if requested by the school's finan- cial aid administrator. No Complete the Free Application for Federal Student $750 - 1st year academic study N/A Aid (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. No Complete the Free Application for Federal Student $4000 for 3rd & 4th year N/A Aid (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. No Complete the Free Application for Federal Student Aid (FAFSA) at GAcollege411.org. Varies N/A Yes Exceptional need is required. No Complete the Free Application for Federal Student Aid (FAFSA) at GAcollege411.org. Varies N/A Yes Contact the college financial aid administrator. 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. Student and Parent Loans Federal Stafford Loan: A Federal To provide low-interest repayable funds to students U/G Family Education Loan Program for education expenses. Federal PLUS Loan: A Federal To provide low-interest repayable funds to parents N/A Family Education Loan Program of dependent undergraduate students. Federal Direct Loans: Stafford Loan and PLUS Loan To provide low-interest repayable funds to students U/G and parents for education expenses. Federal Perkins Loan To provide low-interest repayable funds to students U/G for educational expenses. Georgia First Education Loan Provides funds to meet education needs not cov- U/G ered by traditional student loans. 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 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. Georgia National Guard Service To assist Georgia National Guard members pursu- U Cancelable Educational Loan ing higher education. Georgia Military Scholarships To assist Georgia students seeking a military U career enrolled at Georgia Military College or North Georgia College & State University. Scholarship for Engineering Education To provide service cancelable loans to engineering U students. Social Work Service Loan Pilot To provide service cancelable loans to students U Program enrolled in the critical field of social work. Other Georgia Student Finance A variety of programs that serve smaller numbers U/G Commission scholarship, grant, of students by providing financial assistance for and loan programs 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 FFELP colleges, universities, technical colleges, and career colleges Yes** The current interest rate is 6.8%, fixed, not to exceed 8.25%. ** NOTE: Students who do not demonstrate need may qualify for an Unsubsidized Direct Loan with in-school interest payments. No Complete the Free Application for Federal Student Aid (FAFSA) and the Federal PLUS Loan Master Promissory Note (MPN) at GAcollege411.org. Varies Participating FFELP colleges, No The current interest rate is 8.5%, fixed, not to exceed 9%. universities, technical colleges, and career colleges No Complete the Free Application for Federal Student Aid (FAFSA) at GAcollege411.org. Varies Participating Direct Loan colleges, universities, technical colleges, and career colleges Yes** The current Stafford interest rate is 6.8%; fixed; not to exceed 8.25%. ** NOTE: Students who do not demonstrate need may qualify for an Unsubsidized Direct Loan with in-school interest payments. 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. No Apply for a Georgia First Education Loan online at $1,000 to $25,000 GAcollege411.org. 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. 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-GSFC (4732). Funded by the Georgia Lottery for Education. 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. 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. Yes Complete the college's Military Scholarship Applica- Amount covers the cost 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 of tuition, fees, room/ North Georgia College & State Contact Georgia Military College or North Georgia College & State University for also be nominated by a Georgia state legislator. board, books, supplies, University more information. and uniforms. 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. Yes Complete the Free Application for Federal Student Aid (FAFSA) and the Federal Stafford Master Promissory Note (MPN) at GAcollege411.org. $10,000 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. 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, Georgia HERO 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. *Maximum awards shown are subject to change based on the number of students eligible and changes in State appropriations.