§ 20-3-405. Short Title
This subpart shall be known and may be cited as the “Education for Public Service Student Loan Act.” History. Code 1981, § 20-3-405 , enacted by Ga. L. 2008, p. 626, § 4/SB 169. Law reviews. For note, “Assessing the Efficacy of the CFPB’s Regulation of Student Loan Companies,” see 52 Ga. L. Rev. 916 […]
§ 20-3-405.1. Definitions
As used in this subpart, the term: “Cost of attendance” of a student means the cost of attendance calculated in accordance with Title IV. “Education for Public Service Student Loan” or “EPS Student Loan” means a student loan provided in accordance with the provisions of this subpart. “Eligible high school” has the same meaning as […]
§ 20-3-405.2. Eligibility; Repayment Period; Maximum Amount; Application; Statement of Requirements
The authority is authorized to provide direct loans to students who are legal residents of this state and who are not ineligible under Code Section 20-3-405.7 in accordance with the provisions of this subpart and regulations of the authority promulgated to implement this subpart. The repayment period for an EPS Student Loan shall be ten […]
§ 20-3-405.3. Interest Rate; Recalculation
Subject to the provisions of Code Section 20-3-405.4, the annual interest rate for any EPS Student Loan shall be converted to 1 percent retroactive to the origination date of the EPS Student Loan for each student who: Completes his or her course of study and earns the degree with a cumulative grade point average no […]
§ 20-3-405.4. Conversion to Interest Free Loans
When a student meets the requirements for conversion of one or more EPS loans to a 1 percent rate or to an interest-free loan or loans, the student may elect to waive the conversion of the EPS loan or loans for that degree and apply all or part of the student’s years of completed public […]
§ 20-3-395.1. Eligibility; Interest Rate; Repayment; Maximum Amount
The authority is authorized to provide direct loans to students who are legal residents of this state and who are not ineligible under Code Section 20-3-395.4 in accordance with the provisions of this subpart and regulations of the authority promulgated to implement this subpart. The interest rate for loans provided in accordance with this subpart […]
§ 20-3-405.5. Separate Fund for Loans; Fees
The authority shall establish and maintain a separate fund for loans in accordance with this subpart to which shall be credited: State funds appropriated for use for EPS Student Loans; Moneys received by gift, donation, or otherwise for EPS Student Loans; Outstanding EPS Student Loans held by the authority; and Principal and interest collected on […]
§ 20-3-395.2. Separate Fund for Loans; Fees
The authority shall establish and maintain a separate fund for loans in accordance with this subpart to which shall be credited: State funds appropriated for use for loans under this subpart; Moneys received by gift, donation, or otherwise for loans under this subpart; Outstanding educational loans held by the authority under this subpart; and Principal […]
§ 20-3-405.6. Repayment Schedule; Default
The authority shall by rule and regulation establish a repayment schedule or schedules for EPS Student Loans. Students shall be required to pay accrued interest annually on the loan or loans while attending a postsecondary institution except in cases of financial hardship. Students shall not be required to begin the repayment of the principal of […]
§ 20-3-395.3. Repayment Schedule; Default; Service Cancelable
The authority shall by rule and regulation establish a repayment schedule or schedules for loans made under this subpart. Students shall be required to pay accrued interest annually on the loan or loans while attending a postsecondary institution except in cases of financial hardship. Students shall not be required to begin the repayment of the […]