Education loans with service cancelable benefits: 2005-2006 general information guide

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Georgia Student Finance Authority Tucker, Georgia 30084 (770) 724-9000 = 1-800-505-GSFC (4732)

Education Loans with Service Cancelable Benefits
2005-2006 General Information Guide

Program Information
The Georgia Student FinanceAuthority (GSFA),an instrumental-
it^ and non~ubliccorporation of the state of Georgia, is one of
many participating lenders in the Georgia student laan Programs. GSFA provides loans to help students and Parents meet the costs of higher education. GSFA administers the Federal Family Education Loan Program (FFELP) and offers service cancelation benefits in Georgia on eligible Federal Stafford loans as weII as state education loans obtained through the Registered Nurse Program, the Georgia National Guard Service Loan Program, the Nurse Faculty Service Loan Program, and the Destination Teacher Service Loan Program. These loans help students preparing for professions in which there is a personnel shortage in Georgia. Federal Stafford education loans in Georgia are guaranteed by the Georgia Higher Education Assistance Corporation (GHEAC).
Both subsidized and unsubsidhed Stafford loans are eligible far service cancelation benefits. A subsidized Federal Stafford loan is a need-based loan, which means the amount you m y be eligible to receive is based on y o u financial need. The federal government pays the interest that accrues on a subsidized Federal Stafford loan while you are in school, during your grace period, and during defermentperiods. An unsubsidized Federal Stafford loan is a non-need based loan, which means that the amountyou may be eligible to receive is not based on your financial need. If you receive an unsubsidized Federal Stafford loan, you will be responsible for all interest that accrues on the loan from the date of disbursement forward.
To be eligible for a service cancelable loan, you must meet federal regulations governing the FFELP and GSFA policies concerning residency, program of study, grade point average (GPA), etc. Thereis a graceperiod,prescribedby federal and state law, before you must begin repayment.
Before You Apply Contact the Financia1Aid Office at the school you plan to attend for updated instructions for requesting service cancelation benefits on your StafTord loan. Many Georgia colleges participate
in electronic loan processing and may require different procedures. It is important to apply early for service cancelatian benefits. Allocations are established early and commitments for funds may be totally utilized before the school's application deadline.
IMPORTANT: Loan funds for the fields listed in the table on this page, with the exception of the Nursing FacdQ and DestinationTeacherService Loan Programs, are appropriated each year by the Georgia State Legislature. Therefore, availability may change during the year if budget cuts are necessary.

Check with GSFA or your school Financial Aid Office if you have a question about funds availabili@.
If your school participates in the Federal Direct Student Loan Program, you may still be eligible for a Federal Stafford loan with service cancelation benefits. Check with the Financial Aid Office at heschool,
Loan Amounts and Disbursement of Funds
Loan maxilnums may be limited annually to amounts that are less than the Federal Stafford loan program. Your loan amount will depend on your field of study and the appropriation of funds for the program. In all cases, GSFA, as the lender, reserves the right to determine the loan amount. The maximum loan amount per academic year, including both subsidized and unsubsidized amounts, is $2,000 (see exceptions). The minimum loan amount per type is $100, or $200 per academic year. You may not borrow more than an amount equal to the cost of attendance minus any other financial aid received.
Exceptions to the progmmmaxirnums Iisted above are: $3,000 for LlNC, $3,500 for General Dentisby, and $4,000 for DHR Nursing. Graduated awards for Nursing and Nurse Anesthesia: $2,500

UndergradaatelHealth
Dental Hygiene Dietetics (Food & Nutrition) Health Information Management
(formerly M e d i d Records) Laboratory T ~ c h n o l o g y Medical Technology Nurse Anesthesia Nursing,Licensed PracticaI Nursing, Registered (Associate
Degree,Bachelor's Degree, & Diploma)
OccupationaI Therapy Pharmacy Physician Assistant Radiologic Technology Respiratory Therapy
Graduate Health Fields
Dentis* (General} Optometry Pharmacy Physical Therapy Veterinary Medicine

Master's Degree
Dietetics (Food & Nueition) Health Information Management
(formerly Medical Records) Nurse Anesthesia Nursing Physical Therapy Radiologic Technology Respiratory Therapy
- Other
Agriculture Education Destination Teaching DHR Nursing Georgia National Guard Gerontology ICAPP (Intellectual Capital
Farmership Program) LINC Fadden in Nursing Careers) Northeast Georgia Pilot Nursing
Program Nursing Faculty Registered Nurse Fast Track Social Work

NO'lT: The Approved S d c e CanmlabIeFields of study are subjext to change. Check with the Georgia Student Finance Authority to co&m approval of the fieid of study you are interested in before applying for a Federal Stafford loan with the Service Option.

L-27 (07105)

freshman year, $3,500 sophomore year, $4,000 junior year, $4,500 senioryear. $10,000 for SocialWork,junior and senior year only.)
For each loan approved by GFSA and guaranteed by GHEAC, you must sign a promissory note, acknowledging the terms of the loan and your repayment obligation,before h d s will be disbursed.After your loan is guaranteed, you will receive a "Service Cancelation Benefits Contract." Loan funds are hsbursed at the beginning of each school term of the loan period. Your check will be made payable to you and mailed or electronically transferred to the educational institution for disbursementupon verification that you are enrolled in good academic standing for the required number of hours.
General ELigibXty Requirements You must:
1. Be a United States citizen or eligible residentlnon-citizen;
2. Be a legal resident of Georgia as defined by GSFA;
3. Have registered with Selective Service (if you are a male borrower under age 25);
4. Have not defaulted on an education Ioan and owe no refund on an education grant;
5. Have signed your loan application and promissory note;
6. Be accepted for adrmssion or enrolled as at least a half-time student at an eligible school;
7. Be accepted for admission or enrolled in good academic standing as determined by the school and maintain at least a "C"average, except where otherwise specfied; and
8.Have completed core curriculum aridbe accepted for admission in an approved service cancelable field of study.
Additional Eligibility Requirements for DHR Nursing A current D e p m e n t of Human Resources (DHR) employeemay receive servicecancelation benefits to study for a baccalaureate or advanced nursing degree. The current Ioan amount per academic year is $4,000. Two calendar years (24 months) of service are required for each academic year of loan assistance received.
In addition to the general requirementsmentionedabove, specific requirements for DHR Nursing are:
You must:
1. Be enrolled in a baccalaureate or advanced nursing degree program at an eligible, participatingpostsecondary institution in Georgia;
2. Intend to practice as a registered nurse for the Georgia DHR or any Georga county board of health in order to cancel the loan through service;
3. Be a current DHR employee; and
4. Submit to GSFA a Ietter of employment verification from your DHR supervisor along with a completed student loan application that has been certified by the financial aid representative at the college you will be attending.
Additional Eligibility Requirements for Gerontology In addition to the general requirements above, specific require-
ments for gerontology are:
You must:
1. Be pursuing a certificate or degree with a specialty in gerontology in one of the foIlowing dsciplines: health and social service, public administration, research, or teaching;

2. Have coursework that includes:
a. At least20 quarterhours dealingwith theproblemsof aging if you are enrolled in a certificate program; or
b. More than 20 quarter hours dealing with the problems of aging, as well as practicum experience,if you are enrolled in a degree program; and
3. Attach to your application a IePter of recommendation from your department head certifying that you are pursuing a certificateldegree specializing in gerontology.
What You Should Know About Repayment and Service Cancelation Benefits
Stafford loans with service cancelationbenefits are repayable by approved service in Georgia or in regular monthly installments beginning when your grace period ends. The minimum monthIy installment is $50. Repayment in service includes cancelation of any accrued interest. If you have received both subsidized and unsubsidized funds for the same critical field of study, your repayment schedule will include both types of Ioans for cancelation. Cash repayableloans cannot be consolidatedwith servicecancelation loans for repayment purposes.
IMPORTANT:Repaymentpolicies regardingloan cancelation by service are subject to change prior to your employment or as conditions warrant at the discretion of GSFA. Contact GSFA for current information on approved locations,
When you are near the end of your graceperiod, GSFAwill issue a "Repayment Schedule" to you. It is your responsibility as a borrower to contact GSFA at 1-800-505-GSFC (4732) to request information regarding service cancelation.
Service Cancelationin the HeaIbh Related Fields If you have completed your program of study and qualify for a professional certificate in your fieId, you may cancel each academic year's loan (or its equivalent) by practicing full-time
time for one calendar year ( I 2 months) at an approved site. You must obtain employmentwithin Georgia and request approvaI from GSFA of the employment site for service credit. Examples of approved sites are: hospitals, clinics, nursing homes, and children's homes. Employment by federal agencies, such as VA hospitals and military facilities, private duty nursing, temporary employment agencies,and volunteerwork will not be approved for service repayment credit.
There is a geographic restriction on service cancelation for borrowers practicing Veterinary Medicine. The recipient must practice his profession in a rural or sparsely populated area of the state or in a community of 10,000population or less in need of a licensed veterinarian for purposes of meeting the needs of owners or producers of farm animals used for or in connection with the production of commercial food products.
Credit for part-time service can be given only if, in the opinion of GSFA, the circumstances affecting such a request are sufficient to warrant creht. No credt wilI be granted for less than half-time service or for service while you are enrolled in school and receiving service cancelationloan assistance from GSFA. No credit will be given for part-time service in gerontology.
Georgia National Guard Service Cancelable Education Loan Program The purpose of this program is to provide financial assistance toward the cost of attendance at a Georgia private or public college

or universityor public postsecondary technical collegeto eligible members of the GeorgaNational Guard (ArmyorAir). Thefunds received can be repaid through service cancelation.
Contactyour Georga National Guard Education Services Officer or the Georgia Student Finance Authority at (770) 724-9000 or toll-free at 1-800-505-GSFC (4732) for further information.
ICAPP (Intellectual Capital Partnership Program) The Georgia Student Finance Authority (GSFA) and the Intellectual Capital Partnership Program (ICAPP),the Economic Development Program of the University System of Georgia, are pleased to announcea revision to the program. ICAPP, which was initially designed to address the shortage of high quality, trained workers in the field of Computer Science, has been revised to address a different workforce need, focusing on the impenhug shortage of health professionals,particularly in nursing.
The ICAPP Service Loan Program is administered as a Federal Stafford Loan with a service option provided by GSFA. The maximum loan mount is $7,500, less other grant and scholarship aid received, for the entire Iength of the program of study. Financial assistance is provided to students working toward an approved health professional certificate or degree through the Master's level.
Institutions participating in the program are: Abraham Baldwin AgricuItural College, Armstrong Atlantic State University, Augusta State University, CIayton State University, Coastal Georgia Community College, Columbus State University, Dalton College, Darton College, Georgia Highlands College, Georgia Perimeter College, Georgia Sfate University, Georgia Southwestern State University, Gordon College, Kennesaw State University, Middle Georgia College, University of Georgia, and Valdosta StateUniversity.A Iist of the eligiblehealth fieldsandparticipating sponsors is available at wmr.gsfc.org and GAcolIege4ll.org.
As an ICAPP Service Loan recipient, you must agree to repay the loan by working in your program of study for one of the sponsors parhered with the colleges listed above or by working at a GSFA-approved site. Most sites are approved except Federal installations such as a Veterans Administration hospital or a military base. Private duty nursing, volunteer work, and working through a temporary employment agency are not approved for servicecancelation.You must agreeto work for one calendar year (12 months) for each $2,500 of loan assistance received.
For more information on ICAPP,contactthe Financial Aid Office
at the participating institution or the Georgia Student Finance Authority at (770) 724-9000 or 1-800-505-GSFC (4732).
LINC (Ladders in Nursing Careers) Ladders in Nursing Careers, or LINC, is a career mobility program
developedby the Georgia HospitalAssociationwith grant funding provided by the Robert Wood Johnson Foundation. Its purpose is to provide support to minority, low-income, or rural students to enable them to enter and complete a program of nursing.
The current loan amount per academic year is $3,000.You must agree to serve one calendar year (12 months) for each academic year of loan assistance received at an approved site within the state of Georpa. The approved sites are the same as listed under "Service Cancelation in Health Related Fields."
For more information, please call the LINC contact, Karen Waters, Georgia Hospital Association, at (770) 955-0324 or 1-800-233-2964.

Registered Nurse Service Cancelable Loan Program The purpose of this program is to attract high-quality, knowledgebased jobs to Georgia by providing hospitals with the skilled
labor force they need. The program was established to increase the capacity of the traditional five-semester UN program to accommodate additional students; to develop a LPN to RN program for licensed LPNs to complete a summer bridge course; and to develop a fast track RN program to allow students to complete the program in four semesters rather than five. Currently the Registered Nurse Service Cancelable Loan Program includes two schools (see table below):
edicd Center - Savann
The maximum award amount is $9,000. You must agree to work for a sponsoringhospital for one calendar year (12 months) for each $3,000 of loan assistance received. For additional information on this program, contact the Financial Aid Office at the participating institution or the Georgia Student Finance Authority at (770) 724-9000 or 1-800-505-GSFC (4732).
Nursing Faculty Service Cancelable Loan Program The Nursing Faculty Service Cancelable Loan Program is a unique graduate education service cancelable loan program designed to encourage Georgians to enter-and remain in-the nursing education profession. Financial assistance is offered in three core nursing education tracks: Baccalaureate to Master's, Master's to Doctorate, and Post-Master's Nursing Education Certification. The program was developed by the Health Care Workforce Policy Advisory Committee and is funded by the Georgia Department of Labor and the Robert W. Woodruff Foundation. You must enroll; in a graduate-level educational program at a public or pnvate Georgiauniversitythat prepares studentsto serve on the faculty of a Georgia public or private school of nursing (LPN, ADN, andor BSN). After completing the program, you must serve as a faculty member in Georgia in a board-approved LPN, ADN, andlor BSN nursing program for one calendar year for each $2,500 received through this program, with a maximum of five years for repayment. For eligibility requirements and award amounts, contact the Georgia Student Finance Authority at (770) 724-9000 or toll-free at 1-800-505-GSFC (4732). Also, you may refer to the GSFA website at www.gsfc.org or GAcollege4ll.org for additional information.
Destination Teaching Program
The Destination Teaching Program is a service cancelable scholarship loan program designed to increase the number and diversity of highly qualified teachers prepared through the University System of Georgia institutions. It is targeted at preparing second

career candidates,includingparaprofessionais,to become teachers in high-need schools. The program is an initiative of the Board of Regents of the University System of Georgia and is funded through the U.S. Department of Education.
Institutions participating in the program are: Abraham Baldwin Agricultural College,Albany StateUniversity, ArmstrongAtlantic State University, East Georgia College, Georgia Southern University, Georgia Southwestern State University, Georgia State University, South Georgia College, Valdosta State University, and Waycross College.
The maximum total loan amount is $5,000. Within six months after completing the program, you must become certified as a teacher and then repay the scholarshipby working in a high-need school in a high-need school district in Georgia.
For additional information, please contact the program liaison in your region:
Region 1-Albany State College Frank Wilson: (229) 430-1911, wJividson@asurams.edu
Region 2 -Armstrong Atlantic State University Pat Brignati: (912) 921-2138, bp.ignapa@mail.armsfrong.edu
Region 3 - Georgia State University Tracye Moore: (404)651-3677, edubmm@langate.gsu.edu
Region 4 - Georgia Southwestern State University Andrea Iulia Fekete: (229) 931-2169, afekete@cmes.gsw.edu

Region 5- Georgia Southern University, East Georgia College Susan Cason: (912)486-7841, scaso~12@gasoeud.u
Region 6 -Valdosta State University, Waycross College, South Georgia College,Abraham Baldwin Agricultural College Dr. Mary Ellen DaIlman: (229) 333-5628, medullman@valdos~ae,du
Social Work Service Cancelable Loan Program
G e o r ~ ais introducing a new service cancelable loan program in the fall of 2005 to encourage Georgians to enter the field of social work, addressing the state's critical need for trained caseworkers. The program was developed by the Georgia Student FinanceAuthority in partnership with the Department of Human Resources. Georgia State University will serve as the site for the pilot program.
Collegejuniors and seniors seekinga bachelor's degree in social work may receive a service cancelable loan of up to $5,000 per semester.You must agreeto work as a caseworkerwith the Department of Family and Children Services (DFCS) for one calendar year (12 months) for each $2,500 in aid received.
For additional information on this program, please contact the Financial Aid Ofice at Georgia State University or call GSFA at (770) 724-9000 or 1-800-505-GSFC (4732).

Complete an approved need analysis form. Be sure to follow the application instructions provided by your Financial Aid Office. (Note: ICAPP and Georgia National Guard applicants are not required to complete a need analysis form.)
Apply early. Due to limited servicecancelable loan benefits and the large number of applicants, GSFA cannot provide assistance to every eligible applicant. If you apply before October 1, you wiIl have a better chance of receiving these benefits.
Cancelations mean reapplying.Service cancelableloan benefits arenot transferablefrom one school to another. If you change schools during the year, your remaining loan hsbursements will be canceled, and you must reapply at the new school. GSFA cannot guarantee that funds will be available when you reapply.
Do not leave items bImk on your application forms. Be sure a11 items are legible. Important: Incomplete and illepble application materials will be returned to you for correction, delaying processing of your service cancelationbenefits request. Funds may be depleted at your schooI by the time you re-submit your forms.
Servicecreditcannot be granted for a Federal Staffordloan unless the 10x1was approved with the service option at the time of guarantee.

The information contained herein is a swmmaqy of the specfiedprograms; additionalprograms may be available. The information is not a complete and exhawfive list ofprograms, eiigibiliity requirements, and indivihal prog~amterms and conditions. Please contact GSFAfor additional information.