The Georgia Student Finance Authority© Shauna Zamarripa
Jul 2, 1999
The Georgia Student Finance Authority (GSFA) is a full service lender that provides "One Stop Shopping" for educational loan needs for high school graduates who are planning to attend college. At the Georgia Student Finance Authority we pride ourselves for the streamlined application and origination processes, as well as providing customer service oriented loan servicing. This means that you get your money when you need it. Then, once you begin to repay your loan, the loan servicing representatives will make sure the process is hassle-free.
Everything you need to know about receiving educational loan assistance to go to college is right here, at your fingertips.
Educational loans are one resource available to help you fund your college education. Be sure to explore service cancelable loans, scholarships and grant possibilities, as well as seeking an educational loan.
The Stafford Loan is available to students who are eligible to borrow under the FFEL Program. The Georgia Student Finance Authority provides a streamlined process for applying for these educational loans. Then, once you enter repayment, the Georgia Student Finance Authority, with a committment to customer service, will assist you regarding your repayment options.
The Authority offers a variety of repayment options. They are:
Standard
Graduated
Income Sensitive
We will work with you to determine which option is best for you. Please remember the following points when making a repayment option selection:
The longer the repayment period, the more interest you will pay on your loan(s). You are encouraged to make the largest payments you can afford to keep the total cost of the loan(s) down;
You can repay the entire loan or make larger payments at any time without penalty;
The minimum monthly payment for any FFELP repayment plan is the amount of interest that accrues monthly;
You must select a repayment plan within 45 days of receiving your repayment options packet. If you do not select a plan, your loans will remain on standard repayment. Standard Repayment:
Every borrower who enters repayment is initially set up on this repayment option. In order to be converted to graduated or income sensitive repayment, you must contact Loan Servicing at (770) 414-3000 or 1-800-776-6878 and request a repayment options selection packet. Standard repayment is encouraged because you pay the least interest with this option.
This plan allows for up to ten years to repay the loan(s), with substantially equal payments. The standard, minimum monthly payment is $50. If you do not select another repayment plan option within 45 days of receiving your initial repayment schedule, your loan(s) will remain on standard repayment.
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