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 credit-based 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. STUDENTS MUST COMPLETE A FAFSA AND COMPLETE A NEW STUDENT LOAN APPLICATION EACH YEAR.

Student Access Loan – Technical (SALT)

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Available for Fall Semester 2014, the SALT is a new Student Access Loan for eligible Georgia students attending an institution within the Technical College System of Georgia. SALT will offer eligible students a 1% interest loan to assist in meeting the educational costs of a technical college education.

Program Regulations are posted at http://www.gsfc.org/gsfcnew/SandG_regs_2014.cfm.

Application and Selection Process:
Students must have a 2014-15 FAFSA on file. The applications for SALT will be available online at https://www.gsfc.org/secure/lg/ from 9:00 a.m. on December 16, 2014 to 4:00 p.m. on January 2, 2015 on a first come, first serve basis as funds are available. Students may apply at any time during this application period.

Student Access Loan (SAL)

APPLICATION PERIOD IS CURRENTLY CLOSED

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SAL 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 2014-15 FAFSA on file. SAL has a random selection process based on available funds. Selected SAL applicants will be notified by email. The applications for SAL will be available online at https://www.gsfc.org/secure/lg/ when the application period is open. Students may apply at any time during the application period.

Key Components of SAL and SALT

  1. The interest rate will be 1% interest rate. The rate only changes if a borrower goes into default.
  2. 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.
  3. An Origination Fee of 5% of the total loan amount up to $50.00 will be deducted from the first disbursement for all loans. After the grace period, borrowers will enter Repayment with a required minimum payment of $50 per month.
  4. After the grade period, borrowers will enter Repayment with a required minimum payment of $50 per month.
  5. 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 SALT loan was received and have a minimum cumulative grade point average of 3.5 at the time of graduation.
  6. 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 and SALT


In order to receive the SAL or SALT, 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.

Priority Date for Completing Loan Applications

  • Spring Semester 2015: November 25, 2014