Institutional Loans
Students who request institutional loans on the Georgia Tech Application for Scholarships and Financial Aid may be awarded funds from one of several institutional loans. The OSFA will select the loan that provides the best option for the student. Deferment and cancellation provisions and details are outlined in the promissory note on all the following loans except for Emergency Loans.
Mattie G Elder Loan
Loans awarded to financially needy students to assist in financing their education at Georgia Tech. Interest rate is 3%. Deferred payment and no interest accrues as long as student is enrolled at least half time at Georgia Tech. Payments begin and interest begins to accumulate the first day of the third month after the student ceases to be enrolled at least half time at Georgia Tech. Repayment is in equal monthly installments with a maximum repayment period of seven (7) years. The minimum monthly repayment is $50.
Wallace J Greene Loan
Loans awarded to financially needy students to assist in financing their education at Georgia Tech. Interest rate is 3%. Deferred payment and no interest accrues as long as student is enrolled at least half time at Georgia Tech. Payments begin and interest begins to accumulate the first day of the third month after the student ceases to be enrolled at least half time at Georgia Tech. Repayment is in equal monthly installments with a maximum repayment period of seven (7) years. The minimum monthly repayment is $50.
James P. Lindsey Loan Fund
Loans awarded to financially needy students to assist in financing education at Georgia Tech. Interest rate is 7.5%. Deferred payment and no interest accrues as long as student is enrolled at least half time at Georgia Tech. Payments begin and interest begins to accumulate the first day of the third month after the student ceases to be enrolled at least half time at Georgia Tech. Repayment is in equal monthly installments with a maximum repayment period of seven (7) years. The minimum monthly repayment is $50.
Hazard Reeves Loan Fund
Loans awarded to financially needy students to assist in financing education at Georgia Tech. Interest rate is 3%. Deferred payment and no interest accrues as long as student is enrolled at least half time at Georgia Tech. Payments begin and interest begins to accumulate the first day of the seventh month after the student ceases to be enrolled at least half time at Georgia Tech. Repayment is in equal monthly installments with a maximum repayment period of seven (7) years. The minimum monthly repayment is $50.
Charles and Anna Tomberg Loan Fund
Loans are awarded to financially needy students to assist in financing education at Georgia Tech. The loan is interest free. Payments begin the first day of the third month after the student ceases to be enrolled at least half time at Georgia Tech. Repayment is in equal monthly installments with a maximum repayment period of seven (7) years. The minimum monthly repayment is $50.
Institutional Emergency Loans
The Institute offers emergency, short-term notes to students who need assistance in paying tuition and fees, or cash loans up to $1,500 (not both). These loans are interest free, but do have a service fee assessed at the time of the delivery of the loan funds. Students may not borrow in successive terms of enrollment.
This website last updated on 04/29/09