Loans are borrowed cash that have to be repaid with curiosity. Pupil should have a legitimate
FAFSA on file to obtain a federal mortgage. The Cohort Mortgage Default charge for Columbus State
College was 10.1 for fiscal 12 months 2016 as of January 26, 2019.

Federal Pupil Mortgage Applications

Federal Direct Stafford Backed Mortgage

This mortgage is awarded on the premise on monetary want. You’ll not be charged any curiosity
earlier than you start reimbursement or throughout approved durations of deferment. The federal
authorities “subsidizes” the curiosity throughout these durations. You have to be enrolled at
least half time, and full Entrance Mortgage Counseling and the Grasp Promissory Word (MPN) earlier than the mortgage will pay to your account.

Federal Direct Stafford Unsubsidized Mortgage

This mortgage is just not awarded on the premise of want. You will be charged curiosity from the
time the mortgage is disbursed till it’s paid in full. For those who permit the curiosity to
accumulate, it will likely be capitalized—that’s, the curiosity might be added to the principal
quantity of your mortgage and extra curiosity might be based mostly upon the upper quantity.
This can enhance the quantity it’s a must to repay. You have to be enrolled no less than half
time, full Entrance Mortgage Counseling and the Grasp Promissory Word (MPN) earlier than the mortgage will pay to your account.

Federal Pupil Mortgage Curiosity Charges

Federal Pupil Mortgage Curiosity Charges are set each July 1.

Mortgage Counseling

You have to full the next 2 steps to finalize processing of an academic mortgage
request:

1. Full Entrance Counseling at https://studentaid.gov/.
2. Full and Signal your digital Grasp Promissory Word at https://studentaid.gov/. Choose Full New MPN for Pupil Loans on the left. You’ll use your FSA ID
   to signal your promissory word. This is similar ID used to finish the FAFSA software.
   For those who do not need an FSA ID, it is best to first register at https://studentaid.gov/fsa-id/sign-in/touchdown (permit three to five days) earlier than trying to finish step 2.

State Mortgage Program

Pupil Entry Mortgage (SAL)

It is a want based mostly mortgage obtainable to undergraduate college students which might be Georgia residents.
College students should have remaining want after using all different help, together with Stafford
loans. Functions are accepted on a lottery foundation as much as $8,000 per tutorial 12 months,
with the applying interval sometimes opening in June.

Pupil Entry Mortgage Eligibility Necessities (Efficient beginning the 2018-2019 Tutorial
Yr)

GSFC Necessities:

• GA Resident
• US Citizen
• Should have FAFSA on file
• Pupil have to be accepted into and pursing a Bachelors or Associates Diploma
• Making SAP or on accepted tutorial plan
• Have demonstrated unmet want per FAFSA Calculation
• Have to be enrolled in no less than 6 hours

CSU Necessities (Institutional)

Have to be assembly quantitative (tempo) SAP necessities:

• Should have 2.zero Cumulative GPA
• Federal mortgage limits should not exceed $25,000 mixture for dependent college students and $40,000
  for unbiased college students

College students not assembly the above standards might submit an enchantment to the Director of Monetary
Assist, to be reviewed by committee.

All college students accepted for SAL should full the promissory word that GSFC offers,
have it notarized, and return to GSFC AND should full CSU SAL counseling, which
might be a kind that may be accomplished in our Enrollment Providers Heart positioned in
College Corridor or through electronic mail.

Pupil Entry Mortgage Software

Pupil Entry Mortgage Entrance Counseling
(PDF)