Student Loans

Loan Policy

Wiregrass Georgia Technical College does not currently participate in any federal student or parent loan programs (e.g. Direct Loans, Stafford). Any student loan for which a student wishes to apply must be from a private student lender which will disburse funds directly to the college.

Private Student Loans

Financing the cost of higher education requires careful planning. 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.

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. Please use the WGTC Net Price Calculator to help estimate your cost of attendance and expected aid. We strongly encourage you to research loan terms and conditions of several lenders, only borrow what you need for the school year, and ensure you understand all documents you are asked to sign. Eligibility for private student loans often depends on your credit score. It may be necessary to apply with a cosigner.

Eligibility

Students must attend an eligible school and be enrolled in an eligible program. International students are eligible with a creditworthy cosigner (who must be a U.S. citizen or permanent resident) and appropriate U.S. Citizenship and Immigration Service documentation.

The student must be accepted into the college, have completed the Free Application for Federal Student Aid (FAFSA), and have been approved by the private lender. The student 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 certified.

Students may choose from the below preferred lenders or select the private education loan provider of their choice. There is no penalty for choosing a lender that is not included in the list as a preferred lender. After the loan is approved, the lender will contact WGTC to request certification. In accordance with the Truth in Lending Act, a student borrowing private education loan funds must receive three required disclosure statements from the lender. Before the loan can be disbursed, the borrower must complete a U.S. Department of Education Private Education Loan Applicant Self-Certification form and return it to the lender.

Sallie Mae - Smart Option Student Loan
  • Competitive interest rates—2.25% APR to 9.37% APR
  • No origination fees and no prepayment penalty
  • Pay now or later—defer your payments until after graduation or choose an in-school repayment option that fits your needs
  • Get a 2% Smart Reward® in your Upromise® account when you make scheduled monthly payments on time while in school(Not available with the Deferred Repayment Option)
  • Earn a 0.25 percentage point interest rate reduction while enrolled to make scheduled monthly payments by automatic debit
  • Borrow up to 100% of your school certified education costs (minimum $1,000)
  • Applying with a creditworthy cosigner may help you qualify and/or receive a lower interest rate
  • You can apply for a cosigner release after you graduate and make 12 consecutive on-time principal and interest payments
Fifth Third Bank – Smart Option Student Loan for Undergrads

For over 150 years, Fifth Third Bank has remained true to a philosophy of strength and stability, and today, still headquartered in Cincinnati, Ohio, Fifth Third is among the largest 20 bank holding companies in the country.

  • Applying is fast and easy - About fifteen minutes is all you need for a fast and easy online application featuring:
      • Credit decision during the session
      • Option to electronically sign (eSign)
  • Competitive interest rates—2.25% APR to 9.37% APR
  • No origination fees and no prepayment penalty
  • Pay now or later—defer your payments until after graduation or choose an in-school repayment option that fits your needs
  • Get a 2% Smart Reward® in your Upromise® account when you make scheduled monthly payments on time while in school(Not available with the Deferred Repayment Option)
  • Earn a 0.25 percentage point interest rate reduction while enrolled to make scheduled monthly payments by automatic debit
  • Borrow up to 100% of your school certified education costs (minimum $1,000)
  • Applying with a creditworthy cosigner may help you qualify and/or receive a lower interest rate
  • You can apply for a cosigner release after you graduate and make 12 consecutive on-time principal and interest payments

Wiregrass Georgia Technical College college ID: 005256-00