Office of Financial Aid
Waycross Campus (912) 287-6584
Jesup (912) 427-5800
Alma (912) 632-0951
Camden (912) 510-3327
Hazlehurst (912) 379-0041
Baxley (912) 367-1700
Golden Isles (912) 262-4999
Georgia Student Finance Authority (GSFA)’s
Georgia Student Access Loan (SAL)
Aid Year: 2020-2021
Student ID#: __________________
Printed Name ______________________________________________________________________________________________________
Borrower Rights and Responsibilities
By initialing each item below, I indicate that I understand these general educational loan borrower rights and responsibilities:
___I understand that Georgia Student Access Loans are borrowed money that must be repaid, with interest, just like car loans and
___I understand that I cannot have my Georgia Student Access loans canceled/forgiven for any of the following: I didn’t complete my
program of study, didn’t like the education I received, didn’t get a job in my field of study or because I’m having financial difficulty.
___I promise to pay under the terms and conditions of each promissory note I sign the total principal amount, interest on such principal
amount, late fees, and any other fees, charges, and/or costs agreed upon in my promissory note.
___I understand that during the In-School Period and the Grace Period, I must make monthly Keep In Touch Payments (KIT
Payments) to the Authority. Each monthly KIT Payments shall be in the amount of ten dollars ($10). The initial KIT Payment being
due approximately 60 days after disbursement of the Loan.
___I understand that if I become delinquent on any current and/or previous payment, or KIT payment, and I am expecting a
subsequent disbursement, that such disbursement may be held due to the delinquency.
___I understand that any false written statement made at any time after loan approval shall result in an automatic 5% repayment
interest rate and may result in the Authority initiating legal action against me to the fullest extent authorized by Georgia law.
___I understand that the proceeds of my Student Access Loan must be used only for educational expenses.
___I understand that I am required to notify the Authority in writing of any changes to my name, address, email address, enrollment
status, or any other change in status that would affect my Loan status.
___I understand that I may request a discharge of a portion of this Loan, provided I meet the requirements which include: (a)
Graduation from the program of study for which the Loan was received; (b) Minimum cumulative grade point average of 3.5 at the
time of graduation; and (c) Submission of proper documentation of graduation and grade point average to the Authority.
___I understand that I should review my Graduating program of study, which is __________ and my cumulative grade point average
at graduation, which is _____ for the purpose of meeting loan discharge requirements.
___I understand that I must maintain a good Satisfactory Academic Progress status; I must maintain a cumulative G.P.A. of 3.00; I
must maintain at least a half-time enrollment status; and, adhere to all entrance/exit counseling requirements provided by GSFA.
It is very important that you make your loan payments on time. If you are having trouble making your monthly payment, you should
immediately contact your loan holder or loan servicer.
GSFA (Georgia Student Finance Authority)
ou have made a commitment to yourself and your future. Be a responsible borrower – you do not want to default on your student loan.
Default is the failure to repay your loan according to the terms of the promissory note. If you have/had a student loan in default within the past
24 months prior to the first day of the semester, you cannot take on additional loans to use for return to Coastal Pines Technical College.
Loan default has serious consequences:
• Your entire loan balance (principal and interest) may be due in full immediately.
• You may lose eligibility for loan deferment/forbearance.
• Your account may be turned over to a collection agency and you will have to pay additional charges, late fees and collection costs, all of
which become part of your debt.
• Your credit rating will be damaged for several years because defaulted loans are reported to national credit bureaus.
• You will have difficulty qualifying for credit cards, a car loan, a mortgage, or renting an apartment (credit checks are required to rent an
• You can be sued for the entire amount of the loan.
**PLEASE KEEP A COPY OF THIS COMPLETED FORM FOR YOUR RECORDS**
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