Intellectual Capital Partnership Program (ICAPP)
This program has been suspended for the 2010-2011 academic year and is no longer available.
The Intellectual Capital Partnership Program offers a service cancelable loan up to the maximum of $7,500 to help students in critical health fields with their financial fees.
This program is designed to attract recipients to high-demand professions, particularly nursing, and then provide hospitals with the labor force they need.
The recipients agree to repay the loan through working at an approved site in 12 months for each $2,500 received in Georgia.
If the borrower fails to meet this obligation, the loan must be repaid in cash, with interest.
Value
Maximum value of $7,500.
Eligibility
- The student must be a U.S. citizen, national of the United States, or classified as a permanent resident alien.
- The student must: be maintaining satisfactory academic progress in nursing according to the school's standards and statutory requirements; have satisfied requirements under the Selective Service Act necessary to receive financial aid.
- The student must be accepted or enrolled for admission in an approved critical health field leading to a degree at one of the institutions listed.
- The student must be enrolled or accepted for admission in nursing leading to a degree at one of the institutions listed above.
- The student must complete the Free Application for Federal Student Aid (FAFSA).
- The student must not owe a refund on any federal Pell Grant, federal Supplemental Educational Opportunity Grant (SEOG).
- The student must not be in default on any federal Perkins Loan (National Direct Student Loan) William D. Ford Loan (Federal Direct Loan Program) or any guaranteed or insured student loan.
Service Commitment
The recipients agree to repay the loan through working at an approved site in 12 months for each $2,500 received in Georgia.
If the borrower fails to meet this obligation, the loan must be repaid in cash, with interest.
Click here 
to obtain the forms necessary to start your loan cancellation.
Application Procedure
Once you decide which school you wish to attend and accept its offer of financial assistance, the school can certify you as eligible for a Stafford Loan with the service option based on the amount they are allocated June 1 of each year.
To complete the loan process, follow the directions from your school.
View the current Stafford Loan interest rates.
Origination and federal default fees are set by federal statute and are deducted from loan proceeds.
The origination fee is currently 0.5% for Stafford loans disbursed on or after July 1, 2009 and the federal default fee is currently 1.0% for Stafford loans disbursed on or after July 1, 2009.
Loan Disbursements
Once your loan is guaranteed, the proceeds from your federal Stafford Loan with the service option 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 loan guarantee and disclosure statement outlining the anticipated disbursement schedule, as determined by your school, for each loan guaranteed.
You will also receive a service loan contract, which details the service loan information and repayment information.
Eligible Colleges and Universities
The following institutions have been approved by the Board of Regents to participate in the Intellectual Capital Partnership Program: Schools approved to participate in the ICAPP Program 
.
If you are interested in finding more information on these schools, you can find them through the Explore Schools page.
More Information
To learn more about the ICAPP Program, click here .
You can read the official program regulations for full details about the ICAPP loan guidelines, policies, and procedures.