Financing Your Education

Each of Georgia’s accredited schools of higher education – 35 public and 37 private colleges and universities, 34 technical colleges, and well over 100 career schools – has an office offering student financial aid. A student considering enrollment in one of these schools can go to the school’s financial aid office to learn about the assistance available.

A state agency, the Georgia Student Finance Commission (GSFC), works with college financial aid offices to administer student loans, service-cancelable loans, merit-based scholarships, and grants. The programs administered by GSFC include federally funded, state- or lottery-funded student financial aid, as well as aid from private sources. Colleges have additional aid, funded either by the colleges themselves or by private sources. High school counselors know of civic clubs and professional and faith-based organizations that also offer scholarships. Students should apply to them directly at the beginning of their high school senior year.

Student Loans

GSFC has four types of student loans: (1) the Federal Stafford Loans with subsidized and unsubsidized plans for qualified students; (2) the Federal PLUS Loans for parents; (3) the Georgia First Education Loan, an alternative credit-based loan, for students and/or parents; and (4) service-cancelable loans offered in areas of critical need—teaching, health care, military, engineering, agriculture education, and technology. GSFC is the only lender that offers service-cancelable loans, and students can repay them by working in approved locations after graduation.

Students can apply to GSFC for a Stafford or PLUS loan by entering the GSFC Lender Code, 822573, in the loan application form at the college financial aid office, and students can apply on-line at www.gsfc.org for the Georgia First Education Loan.

Scholarships

All of Georgia’s scholarships are merit-based, which means that a student must graduate from high school with a good grade point average (GPA) and maintain good grades in college. Georgia’s HOPE Scholarships go to students who have a B or better grade point average (GPA) in high school core subjects and are candidates for a degree. The HOPE Scholarship Program may undergo changes, but it currently pays tuition, mandatory fees, and a $300 per year book allowance for eligible students who enter one of Georgia’s public colleges or universities. It awards $3,000 a year to eligible students in Georgia’s private colleges.

Other scholarships include the Governor’s Scholarship, which goes to students selected as Georgia Scholars, STAR Students, valedictorians, and salutatorians, and the Robert C. Byrd Scholarship that awards $1,500 per academic year to exceptionally able students.

Grants

Georgia’s grants are not merit-based, but are gifts, which means they do not have to be repaid. The HOPE Grant goes to eligible students who are studying for technical diplomas or certificates. The Tuition Equalization Grant awards funds to Georgia residents who attend eligible private colleges and universities. The LEAP (Leveraging Education Assistance Program) Grant, assists students from low-income families.

Other grants are available to ROTC students and to children of Georgia law enforcement officers, firefighters, EMTs, and corrections officers who are permanently disabled or killed in the line of duty.