This information is provided as a guide and is subject to change without notice to comply with federal, state, and institutional policies. For the most current information, please visit www.gpc.edu/finaid.
Georgia Perimeter College participates in the William D. Ford Direct Loan program.
Federal Direct Subsidized Loans
The Federal Direct Subsidized Loan is a loan that is need-based and the federal government pays the interest (subsidy) while a student is attending school at least half time, in an authorized deferment, or in a grace period. The loan must be repaid upon completion of school or interruption of studies. The student who qualifies may borrow up to $3,500 for the academic year as a freshman and $4,500 as a sophomore. All borrowers are required to complete an entrance interview with the Financial Aid office. Students can complete an Entrance Interview online at www.StudentLoans.gov.
If a freshman is a first-time borrower for a student loan, federal regulations require that the first loan disbursement be delayed until 30 days after the start of classes. Effective July 1, 2013, federal regulations state that all first time borrowers may only receive subsidized loans for 150 percent of their published program of study. A student that does not complete his/her program of study or changes the program of study may be subject to losing the government paid subsidy. For additional information on Federal Direct Loan regulations, please visit www.StudentLoans.gov.
Federal Unsubsidized Loans
Independent students who still need loan assistance after Federal Stafford Loan eligibility is determined may apply for the Unsubsidized Federal Direct Loan. A maximum of $2,000 for dependent students or $4,000 for independent students can be awarded each year. Students are required to enroll for at least six credit hours each semester to maintain eligibility. Dependent students whose parent is unable to obtain a PLUS loan may apply for additional unsubsidized loans - a maximum of $4000.
Federal PLUS Loans
Federal PLUS loans are loans that a parent may use to assist a student in financing an education. Parents may borrow up to the cost of attendance, minus other aid per award year, if the student is enrolled at least half time. The loan goes into repayment 60 days after the check is disbursed to the parent. Students are required to be actively enrolled for six credit hours each semester to maintain eligibility.
Emergency Student Loans
Georgia Perimeter College provides interest-free loans to students on an emergency basis. Loans are granted to cover a portion of the cost of the student's registration fees and books once registration is satisfied for one semester and must be repaid by the specified deadline regardless of other pending financial aid. First semester students and transient students are not eligible for these funds. Students must be enrolled in 6 or more semester credit hours and have a 2.00 GPA to receive an emergency loan. The loan funds are 50 percent of the fees up to $500. A $5.00 service fee will be added to each loan. The funds are awarded by the Office of Financial Aid during on campus registration and advisement assistance and cannot be reserved in advance.