Loans are borrowed money that must be repaid with interest. - Student must have a valid FAFSA on file to receive a federal loan.
Federal Student Loan Programs
Federal Student Loan Interest Rates
Federal Student Loan Interest Rates are set every July 1.
Federal Direct Stafford Subsidized Loan
This loan is awarded on the basis on financial need. You will not be charged any interest before you begin repayment or during authorized periods of deferment. The federal government "subsidizes" the interest during these periods. You must complete Entrance Loan Counseling and the Master Promissory Note (MPN) before the loan can pay to your account.
Federal Direct Stafford Unsubsidized Loan
This loan is not awarded on the basis of need. You'll be charged interest from the time the loan is disbursed until it is paid in full. If you allow the interest to accumulate, it will be capitalized—that is, the interest will be added to the principal amount of your loan and additional interest will be based upon the higher amount. This will increase the amount you have to repay. You must complete Entrance Loan Counseling and the Master Promissory Note (MPN) before the loan can pay to your account.
Federal Direct Parent Loan for Undergraduate Students (PLUS)
Parents may borrow for dependent undergraduate students enrolled at least half time and loan eligibility is based on the cost of attendance minus other aid received. A credit check is required. Valid FAFSA must be on file and verification must be completed before disbursement.
Federal Direct Graduate PLUS Loan
Graduate students enrolled at least half-time (4 graduate hours or more) may borrow through the Graduate PLUS loan. The student must first apply for the maximum loan eligibility in Subsidized and Unsubsidized loans before a Graduate PLUS loan can be processed. Loan eligibility is based upon the cost of attendance minus other aid received. A credit check is required. Valid FAFSA must be on file and verification must be completed before disbursement.
State Loan Programs
Student Access Loan (SAL)
This is a need based loan available to undergraduate students that are Georgia residents. Students must have remaining need after utilizing all other aid, including Stafford loans. Applications are approved on a lottery basis up to $8,000 per academic year, with the application period typically opening in June.
Student Access Loan Eligibility Requirements (Effective for the 2018-2019 Academic Year)
• GA Resident
• US Citizen
• Must have FAFSA on file
• Student must be accepted into and pursing a Bachelors or Associates Degree
• Making SAP or on approved academic plan
• Have demonstrated unmet need per FAFSA Calculation
• Must be enrolled in at least 6 hours
CSU Requirements (Institutional)
• Must be meeting quantitative (pace) SAP requirements
• Must have 2.5 Cumulative GPA
• Federal loan limits must not exceed $25,000 aggregate for dependent students and $40,000 for independent students
Students not meeting the above criteria may submit an appeal to the Director of Financial Aid, to be reviewed by committee.
All students approved for SAL must complete the promissory note that GSFC provides, have it notarized, and return to GSFC AND must complete CSU SAL counseling, which will be a form that can be completed with ESC or via email.
Institutional Loan Programs
Columbus State University Emergency Loan
This short-term loan is sponsored by the Jac. H. and Dora G. Rothschild Assistance Fund and CSU Foundation. Students may borrow up to $2,050 each semester toward CSU tuition, fees, room and board, not to exceed the unpaid balance of institutional charges. The origination fee is $45. Repayment is made in three installments, scheduled on the 1st of each month. Loans for summer semester (by separate application) are normally scheduled in two installments. Undergraduate students must have a cumulative grade point average of 2.0 or better on institutional and transfer coursework. However, GPA requirements are waived for entering freshmen with no transfer coursework and for graduate students. A cosigner who is employed full-time or receives a regular monthly income is required for undergraduates. The cosigner requirement is waived for active duty military personnel and graduate students. The cosigner must not be the spouse of the borrower or a student enrolled at CSU. However, military spouses are acceptable as co-signers.
Columbus State University Emergency Loan Application
Master's Programs in Counseling Loan
Students who have been fully admitted to either the Master's programs in school counseling or the Master's programs in community counseling may borrow up to two-thirds of in-state tuition and fees per semester.