Student Loans

Loan Policy

Students may also apply for loans from a private student lender which will disburse funds directly to the college. Please use the WGTC Net Price Calculator to help estimate your cost of attendance and expected aid. Applicants must have a current FAFSA with an existing unmet need after the Expected Family Contribution and Expected Financial Aid is removed from the college's Cost of Attendance. The student also must complete and submit to the Financial Aid Office a signed Student Loan Information and Acknowledgement Sheet after receiving approval notification from the lender to have the loan funds released to their account.

Private Student Loans

Private loans are loans to help students “bridge the gap” between the financial aid they have been awarded and any additional amounts that may be needed to pay for educational expenses, such as outstanding tuition, fees, and books. Some private loans are credit-based loans. STUDENTS MUST COMPLETE A FAFSA AND COMPLETE A NEW STUDENT LOAN APPLICATION EACH YEAR.

Student Access Loan (SAL) at TCSG

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SAL at TCSG has a random selection process based on available funds. Selected SAL applicants will be notified by email.

Application and Selection Process
Students must have a 2015-16 FAFSA on file. SAL has a random selection process based on available funds. Selected SAL applicants will be notified by email. The application for SAL is available online when the application period is open. Students may apply at any time during the application period.

SAL Selection Cycle Dates and Deadlines:
Selection Cycle Selection Dates Application Deadline Dates
1 July 7 11:59 p.m., July 1
2* August 4 11:59 p.m., July 30
3* September 3 11:59 p.m., September 3

Key Components of SAL

  1. The first selection cycle will be limited to HOPE and Zell Miller Scholarship recipients with a FY2015 invoice or an eligible 2015 high school HOPE GPA record.
  2. The interest rate will be 1% interest rate. The rate only changes if a borrower goes into default.
  3. All borrowers will be required to make a monthly Keep in Touch (KIT) Payment of $10.00 while in school (at least halftime - 6 or more credit hours) and during the grade period. This will be applied towards interest and principal and is meant to improve payment behavior.
  4. An Origination Fee of 5% of the total loan amount up to $50.00 will be deducted from the first disbursement for all loans.
  5. After the grade period, borrowers will enter Repayment with a required minimum payment of $50 per month and a maximum repayment period of 15 years..
  6. SALT borrowers may request a discharge of a portion of a SALT loan(s) based upon graduation from the program of study for which the SAL loan was received and have a minimum cumulative grade point average of 3.5 at the time of graduation.
  7. SAL borrowers may request a Service Cancellation of a portion(s) of a SAL loan(s) based upon employment in Public Service as defined in the SAL regulations or be employed as a teacher in a Georgia Public School System in a STEM field.

Student Eligibility for SAL

In order to receive the SAL, students must:

  • Be considered a Georgia resident and United States citizen or eligible non-citizen.
  • Complete a valid Free Application for Federal Student Aid (FAFSA) in order to apply for this program.
  • Maintain Satisfactory Academic Progress (SAP) in accordance with the SAP policy at their college or university.
  • Must be enrolled in an eligible Georgia postsecondary institution.
  • Meet all eligibility requirements.
  • Exhaust all other funding options to meet cost of attendance.

SAL Certification Process

  • Students selected for SAL and certified bytheir college will have until October 15, 2015 to comply with the loan requirements by submitting a complete promissory note and self-certification document to Georgia Student Finance Authority (GSFA).
  • Applicants who do not submit the required documentation to GSFA by October 15, 2015 will have their application administraively cancelled on October 20, 2015.