Georgia Student Access Loan (SAL)Information about the Georgia Student Access Loan (SAL)

What is the Georgia Student Access Loan?

The Georgia Student Access Loan (SAL) is offered by the Georgia Student Finance Authority (GSFA). The SAL is a 1 percent fixed rate need-based loan, designed to assist undergraduate students who have a gap in meeting their educational costs. This loan is designed to supplement other federal and state aid.

The Georgia Student Access Loan (SAL) is the student's loan, and a co-signer is not required.

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Federal Parent PLUS LoansInformation about Federal Parent PLUS Loans

What is a Federal Parent PLUS Loan?

The Federal Parent PLUS loan is a federal loan available to the parents of dependent undergraduate students, regardless of financial need. The loan requires a separate application and is approved based on the parent's credit history. Parent PLUS Loans are considered to be the parent's loan; however, funding is applied to the student's account charges.

The Parent PLUS Loan interest rate varies annually. The current interest rate can be found here: Parent PLUS Loan Interest Rates.

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Private Student LoansInformation about Private Student Loans

What is a private student loan?

Private student loans are loans offered by financial institutions, such as banks. In some instances, repayment options are similar to Federal Direct Loans. Private lenders may offer extended repayment terms of up to 15-20 years; however, forgiveness options are rarely offered. Interest rates and guarantee fees for private student loans vary based on the applicant's credit history.

Private loans can be a useful alternative funding option to cover additional educational costs not met by federal student aid. Students and families should carefully research options, including other sources of funding, when considering any type of loan program.

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