§ 20-3-414. Pro Rata Reduction of Grants When Funds Are Insufficient
In the event funds available to the authority are not sufficient to enable the authority to pay on behalf of eligible students the full grant prescribed by the General Assembly, grants payable for the remaining school terms shall be reduced by the authority on a pro rata basis. History. Ga. L. 1971, p. 906, § […]
§ 20-3-435. Audits of University; Refund of Grants for Ineligible Students
The University of North Georgia shall be subject to examination by the state auditor for the sole purpose of determining whether the school has properly certified eligibility and enrollment of students and credited grants paid on behalf of such students. However, nothing in this subpart shall be construed to interfere with the authority of the […]
§ 20-3-415. Audits of Schools; Refund of Grants for Ineligible Students
Every approved school shall be subject to examination by the state auditor for the sole purpose of determining whether such school has properly certified eligibility and enrollment of students and credited grants paid on behalf of such students. However, nothing in this subpart shall be construed to interfere with the authority of such school to […]
§ 20-3-400.5. Repayment Schedule; Default
The authority shall by rule and regulation establish a repayment schedule or schedules for GOT Student Loans. Students shall be required to pay accrued interest annually while attending a postsecondary institution except in cases of financial hardship. Students shall not be required to begin the repayment of the principal of such loans until the earliest […]
§ 20-3-400.6. Ineligibility
A student is ineligible for any loan described in this subpart if the student: Is not a United States citizen or a permanent resident alien who meets the definition of an eligible noncitizen under federal Title IV requirements; Has not complied with United States Selective Service System requirements for registration, if such requirements are applicable […]
§ 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 […]