Georgia National Guard Service Cancelable Education Loan
This program has been suspended for the 2010-11 academic year.
The goal of this loan is to provide financial assistance toward the cost of attendance at a Georgia private or public college or university or public post-secondary technical college to eligible members of the Georgia National Guard (Army or Air).
This program is established as an incentive for qualified young men and women to join the Georgia National Guard and to retain skilled, productive citizens within the state.
Value
This loan will cover resident tuition for all courses for which resident tuition is charged, not to exceed the maximum loan limit set by GSFC.
If you are receiving other non-repayable aid designated as tuition only, it will be subtracted from your total eligibility.
You are responsible for all fees, special course fees, student activity and facility fees, assessment fees and others.
Interest on the Georgia National Guard Service Cancelable Educational Loan will be calculated at an annual rate of 8% and the interest will accrue from the first date of disbursement.
The loan and accrued interest will be paid through service cancellation or cash installments should you have to enter a cash repayment agreement.
Eligibility Requirements
General Requirements
To be eligible, you must:
- Be a legal resident of Georgia for a minimum of 12 consecutive months prior to the school term for which the Georgia National Guard Service Cancelable Educational Loan is sought;
- Maintain good military standing as an eligible member of the Georgia National Guard;
- Be enrolled as at least a half-time student in a matriculated status in an undergraduate degree program at an eligible college, university, technical or vocational school within the state of Georgia;
- Be enrolled in a program of study leading to an associate or baccalaureate degree;
- Submit a plan for the completion of your degree with the Georgia National Guard;
- Maintain satisfactory academic progress as determined by your school and maintain at least a grade of C;
- Not have received a baccalaureate degree;
- Not owe a refund on any Federal loan or grant program;
- Not be in default on any Federal or State of Georgia educational loan. If you are in default, you must repay the defaulted loan in full before being eligible to participate in this program;
- Not be an audit or transient student;
- Not be in violation of the Georgia Drug-Free Postsecondary Education Act of 1990;
- Be a U.S. citizen or a non-citizen for at least 12 months prior to the school term in which aid is requested.
Additional Requirements
You are required to submit a Georgia National Guard Service Cancelable Educational Loan application for each loan period in which you apply for assistance.
Once the form is completed you must forward it to the Georgia National Guard loan coordinator at your school.
The forms must be submitted by the deadline, which is determined by your school.
A service cancelable loan will not be awarded for courses leading to a technical certificate, diploma, or continuing education courses, which are not counted towards a degree program at another school.
Concurrently enrolled high school students are not eligible for this loan.
You must be enrolled at least half time as determined by your school and you cannot receive this service cancelable loan for more than five academic years of study.
You must apply for assistance by the deadline, which is determined by the school and for the terms in which you are enrolled.
You cannot receive this loan for courses completed in a prior term.
Students eligible for the HOPE Scholarship or HOPE Grant are not eligible to receive this loan during a school term in which they are receiving a HOPE Scholarship or HOPE Grant funds.
In order to receive service loan assistance for future terms, you will need to provide a copy of your grade report for the current term in which you have received a Georgia National Guard Loan.
Upon satisfactory completion of a term of study with a "C" or higher in all course work taken, your loan for the period in which received will be considered cancelled.
Any course work in which you have not received a "C" or higher for the term in which you received aid or dropped out will become cash repayable with a maximum of five years to repay.
Service Commitment
Upon satisfactory completion of a semester, year or other period of study as determined, graduation, termination or enrollment in school, or termination of this assistance with approval of GSFC, shall be cancelled in consideration of the student's retaining membership in the Georgia National Guard during the period in which the loan is applicable.
Application Procedure
Once you decide which school you plan to attend, you should contact the Education Services Officer/Representative with the Army or Air Guard to determine if you are eligible.
If you are, then obtain a Georgia National Guard application and promissory note online by clicking here 
.
Complete Section A, forward to the school you will attend to complete Section B, and then forward the application and promissory note to the Air or Army Guard to complete Section C.
The promissory note will need your signature notarized.
The Georgia National Guard will then forward the forms to GSFC for processing.
Loan Disbursement
Once the loan is awarded, the proceeds will be sent to your school.
You must contact the Financial Aid Office to make arrangements to receive your loan proceeds.
You will receive a service contract, which details the service loan information and repayment information.
Eligible Colleges and Universities
All eligible Georgia private or public colleges or universities or public post-secondary technical colleges.
Learn more about Georgia postsecondary schools by visiting our Explore Schools section.
More Information
Click here for the official program regulations .