Effective 2015-2016 Southern Crescent Technical College
Will now offer Student Access Loans
The Student Access Loan - Technical (SALT) Program has been replaced with the Student Access Loan (SAL) Program which is still a need-based, low interest loan program administered by the Georgia Student Finance Authority (GSFA). The SAL Program may be funded by state general funds, proceeds from the Georgia Lottery for Education and public and/or private donations. The purpose of the program is to assist with the affordability of a college education at one of Georgia’s public technical colleges and encourage timely persistence to the achievement of post-secondary credentials. The loans, or portions of the loans, are forgivable for recipients who graduate with a minimum cumulative grade point average of 3.5.
Students applying for SAL must meet all general eligibility requirements, citizenship, Georgia residency, enrollment status, satisfactory academic progress, selective service, defaulted loan, Drug-Free Act, and Incarceration.
All students applying for SAL must complete a FAFSA at www.fafsa.ed.gov and an application with Georgia Student Finance Commission (GSFC) at www.GAcollege411.org . GSFC shall designate an open application cycle period for the state fiscal year and only collect applications during such period. Application cycle periods are subject to available funding and application volume. The selection process is RANDOM and there is no guarantee your application will be selected for processing.
Southern Crescent Technical College does not administer this loan. We complete school certification based on need and eligibility. Even if the loan has been certified, the funds are not available to cover your tuition and fees until funds have be received by the college. Paying your fees and tuition is the responsibility of the student.. Students enrolled in a certificate, diploma or associates degree program are eligible to apply. Students with a prior degree are also eligible to apply.
Student Eligibility
Interest Rate
Interest rate structure for loans received on or after July 1, 2014:
Keep In Touch (KIT) Payments
A monthly Keep in Touch (KIT) Payment of $10.00 is required approximately 60 days after the first disbursement is received. The monthly KIT payments are required while enrolled in school at least half-time and while in six month grace period.
SAL Program Information
______________
Information on Federal Student Loans in Repayment
Exit Counseling The federal government requires us to counsel students regarding their rights and responsibilities as a student loan borrower before they graduate or leave school. Southern Crescent will notify you if you are required to complete the exit counseling process. If you are a recent Southern Crescent graduate, or if you have ceased attending 6 or more hours, you are required to complete exit counseling. You can complete the Exit Counseling requirement online by accessing www.studentloans.gov and click on "Exit Counseling" on the top bar. Estimated Loan Repayment Amounts
|
Obtaining Your Loan Repayment Information
The U. S. Department of Education’s National Student Loan Data System (NSLDS) provides information on your federal loans including loan types, disbursed amounts, outstanding principal and interest, and the total amount of all your loans. To access NSLDS , go to www.nslds.ed.gov.
Repayment Options
Non-Payment of Student Loans
Failure to repay your student loan without contacting your lender can cause your loan to become delinquent. If your account is in a delinquent status for 270 days (for monthly payments) or 330 days (for less frequent payments) your student loan is placed in a default status.
Defaulted Student Loans
Defaulting on student loans can affect you in the following ways:
Your lenders are here to help you so please do not hesitate to contact your lender if you are having any problems with your student loan.
Student Loan Provider |
Phone Number |
Website |
Nelnet |
1-800-486-4722 |
|
Great Lakes Educational Loan Services, Inc. |
1-800-236.4300 |
|
FedLoan Servicing (PHEAA) |
1-800-699-2908 |
|
Sallie Mae |
1-800-722-1300 |
|
Direct Loan Servicing Center (ACS) |
1-800-848-0979 |