§ 20-3-400.1. Definitions
As used in this subpart, the term: “Beginning date of a postsecondary course of study” means the first day of postsecondary classes attended by a student for credit toward an associate degree or baccalaureate degree. In the case of a program that includes undergraduate studies and is designed for completion within five years, the first […]
§ 20-3-400.2. Eligibility; Repayment Period; Maximum Amount; Interest Rate; 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 20-3-400.6 in accordance with the provisions of this subpart and regulations of the authority promulgated to implement this subpart. The repayment period for a GOT Student Loan shall be ten […]
§ 20-3-400.3. Recalculation of Interest Rate
When the annual interest rate is converted to 1 percent in accordance with subsection (e) of Code Section 20-3-400.2, the authority shall recalculate the balance owed on the loan to reflect the retroactive change in the interest rate. The steps of the recalculation required by subsection (a) of this Code section shall include the following: […]
§ 20-3-383. Creation of Public Interest Lawyers’ Fund
There is created the Public Interest Lawyers’ Fund. The authority shall maintain the fund to which shall be credited: State funds appropriated for use by the authority for education loan forgiveness purposes; and Unrestricted moneys received by gift or otherwise and other moneys available for and determined by the authority to be used for the […]
§ 20-3-384. Corporation Established; Contracts With Civil Legal Aid Organizations
The authority is authorized to establish a corporation to administer the fund. Any subsidiary corporation created pursuant to this subsection shall be created pursuant to Chapter 3 of Title 14, the “Georgia Nonprofit Corporation Code,” and the Secretary of State shall be authorized to accept any such filing. Upon dissolution of any subsidiary corporation of […]
§ 20-3-385. Utilization of Fund in Repayment of Education Loans; Funding of Four Separate Programs
The fund shall be used by the authority to assist in the repayment of any education loan owed by an individual who is: An assistant district attorney, an assistant solicitor-general, or an assistant solicitor; A civil legal aid attorney; A public defender; or An Office of Legislative Counsel attorney or a State Law Department attorney. […]
§ 20-3-386. Distribution of Education Loan Repayment Assistance; Conditions
Beginning the seventh month that an attorney is employed in one of the positions listed in Code Section 20-3-385, the authority may distribute education loan repayment assistance for the attorney in an amount not to exceed $600.00 per month or the attorney’s monthly debt service at the time the initial payments on the loan commenced, […]
§ 20-3-356. Interests of Bondholders Protected
While any of the bonds issued by the authority remain outstanding, the powers, duties, or existence of the authority or of its officers, employees, or agents shall not be diminished or impaired in any manner that will affect adversely the interests and rights of the holders of such bonds, nor will the state itself in […]
§ 20-3-387. Eligibility for Education Loan Forgiveness; Availability of Funds
No entitlement to funds is created by this subpart. Eligibility for education loan forgiveness shall be dependent on funding through appropriations, as well as all other conditions of eligibility, as determined by the authority. In the event funds available to the authority for any of the programs listed in Code Section 20-3-385 are not sufficient […]
§ 20-3-357. Termination or Dissolution of Authority
Upon termination or dissolution of the authority, all assets, rights, and properties of the authority under the authority of this subpart shall pass to and be vested in the state to be used for educational purposes, subject to the rights of lienholders and other creditors under this subpart; provided, however, that no such termination or […]