Now Available: Student Loans

Starting Fall Semester 2012, the William D. Ford Direct Loan Program (Direct Loans) will be available at Georgia Piedmont Technical College (GPTC). Direct Loans are either subsidized (the government pays the interest while you’re in school) or unsubsidized (you pay all the interest, although you can have the payments deferred until after graduation. See note below about capitalizing interest.).

A Federal Direct Subsidized Loan is a need-based loan, which means the amount you may be eligible to receive is based on your ‘financial need.’ The Free Application for Federal Student Aid (FAFSA) is the document utilized to determine ‘financial need.’ The federal government pays the interest that accrues on a loan while you are in school, during your grace period after you leave school or graduate, and during eligible deferment periods.

A Federal Direct Unsubsidized Loan is a non-need based loan, which means the amount you may be eligible to borrow is not based on your financial need. If you receive an unsubsidized Direct Loan, you will be responsible for all interest that accrues on the loan from the date of disbursement forward. You can opt to defer the interest payments to the loan balance, increasing the size and cost of the loan.

If you have previously borrowed under the FFELP program, you will now borrow from the federal government and when you leave school you will be able to consolidate your previous loan directly with the U.S Department of Education’s Direct Loan Repayment Center and make one payment each month. 

Loan Eligibility Requirements

• Citizenship - You must be a U.S. citizen or an eligible non-citizen.

• Enrollment - You must be accepted for enrollment or enrolled at least half-time (six credit hours) at a participating school in an eligible program leading to an associate degree or diploma. You can not apply if you are enrolled in another program at another school.

• Academic - You must maintain satisfactory academic progress in your course of study. *Complete 67% of the hours you attempt, maintain a 2.0 GPA and complete your program within 150% of hours needed as outlined in GPTC’s standards and statutory requirements.

• Non-Default - You must not be in default on an educational loan or owe a refund on an educational grant.

• High School - You must have a high school diploma or G.E.D.

• Law - You must meet all of the other Federal Direct Loan program eligibility requirements prescribed by law at the time your loan application is processed.

• Financial Need - You must complete the Free Application for Federal Student Aid (FAFSA) and submit any required documents to complete your student financial aid file.

• Loan Counseling - You must complete Loan Entrance Counseling before student loan funds will be disbursed to you.  In addition, you must complete Loan Exit Counseling when you leave school.

Repayment begins six months after you graduate or drop below half-time enrollment (six credit hours).

If you receive a loan and Withdraw, Graduate, or Drop below six hours you must contact Student Financial Services so we can counsel you regarding your loan status. Please keep in mind that if you withdraw you may owe part of your loan funds back immediately.

It is GPTC’s policy to have (2) loan disbursements each semester. The first disbursement will be released after 30 days from the start date of the semester. The second disbursement will be released shortly after midterm.

Loan Applications must be submitted by the financial aid deadline dates for priority processing.

Download the Federal Direct Student Loan Application

Gainful Employment info

Once you submit your application, what happens next?