Application period opens anew for Student Access Loan program
JESUP, Ga. (Oct. 4, 2011) – Altamaha Technical College students may now take advantage of a second chance to apply for the Student Access Loan (SAL) program offered by the Georgia Student Finance Commission (GSFC).
Additional applications for the 2011-2012 academic year are being accepted now through October 31, 2011, for the low-cost, state-funded loan program. This second application period began Sept. 23.
SAL is designed as a “last resort” source of funding for college students who have exhausted all other funding options, according to state releases. The program will offer a one percent interest rate loan to students and families who have used all other federal and state student aid to pay for college.
The GSFC says that funding is limited, with up to $10,000 offered per year and a lifetime maximum of $40,000.
Students will be chosen randomly from a pool of applicants.
Eligibility requirements include Georgia residency, attendance at an approved college or university and maintenance of a 2.0 grade point average in college.
Recipients must pay the accrued interest on the loan annually and can delay repayment of the principal until after they graduate.
So far, the program has provided about $10 million in loans funds to nearly 1,600 Georgians who may not have otherwise been able to attend college this year.
“We are delighted that Governor Deal and the General Assembly made these funds available to students and families who are in desperate need of funding to help fill the gap in their college financing budget.
These students truly represent those in need because these funds come in to play after all other aid has been utilized,” said Tim Connell, President of the Georgia Student Finance Commission.
To learn more about this program, contact Tina Manning, Altamaha Technical College Financial Aid Coordinator, at 912-427-5814, or go online to www.gacollege411.org.
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