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The Allied Health Career Program provides service cancelable loans to students preparing for professions in which there is a personnel shortage in Georgia. This loan provides assistance toward the student's cost of education. Loan maximums may be limited annually to amounts that are less than the Federal Stafford loan program. Your loan amount will depend on your field of study and the appropriation of funds for this program.

Value

The maximum loan amount per academic year, including both subsidized and unsubsidized amounts is $2,000 with the exceptions listed below. You may not borrow more than an amount equal to the cost of attendance minus any other financial aid received. Exceptions: $3,000 for LINC, $3,500 for General Dentistry, and $4,000 for DHR Nursing, Graduated awards for Nursing and Nurse Anesthesia: $2,500 freshman year, $3,500 sophomore year, $4,000 junior year, $4,500 senior year.

To view the current Stafford Loan interest rates, please click here.

Origination and federal default fees are set by federal statute and are deducted from loan proceeds. The origination fee is currently 1.5% and the federal default fee is 1%.

• GSFC pays the origination fee on the borrower's behalf.

• GSFC pays the federal default fee on the borrower's behalf.

Eligibility Requirements

You must complete the Free Application for Federal Student Aid (FAFSA) and have the results sent to the financial aid offices of the schools to which you are applying for admission and financial assistance. Each financial aid office will then determine if you are eligible for a Stafford Loan with the Service Option in one of the Allied Health Career critical fields of study. If you are, the recommendation and loan amount are included in your financial aid award package. Other eligibility criteria is as follows:

• Be a United States citizen, United States national, or eligible non-citizen;

• Be a legal resident of Georgia as defined by GSFA;

• Be accepted for admission or enrolled as at least a half-time student in a GSFA-approved postsecondary educational institution;

• Be accepted for admission or enrolled in good academic standing as determined by the school and maintain at least a C average, except where otherwise specified;

• Not owe a refund on any Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (SEOG), or Student Incentive Grant (SIG);

• Not be in default on any federal education loan; and

• Have completed core curriculum and be accepted for admission in an approved critical field of study.

Service Commitment

After graduation, you may repay your loan by working in your field of study. For each calendar year of full-time qualifying service, you may cancel one academic year of assistance. One-half credit will be given for half-time employment. No credit will be given for less than half-time employment or for service while you are enrolled in school and are receiving a service cancelable loan. If you are unable to repay your loan through service, the loan must be repaid in cash with a minimum monthly payment of $50.00 after your grace period has expired.

Application Procedure

Once you decide which school you wish to attend and accept its offer of financial assistance, the school can certify you are eligible for a Stafford Loan with the service option based on the amount they are allocated June 1 of each year. The allocation funding is to be used by the school until October 1, and then the funds that are used will be used for students on a first come, first completed basis until depleted. The only lender in Georgia that participates in the Federal Stafford Loan Program with the Service Option is the Georgia Student Finance Authority, 833624. To complete the loan process, follow the directions from your school.

Loan Disbursement

Once the 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.

Critical Fields

To be eligible for a service cancelable loan, you must be accepted for admission or enrolled in an approved program of study. If you are enrolled in a "pre-field" program such as pre-pharmacy and pre-dentistry, you are not eligible. The approved critical fields of study are listed below. Some fields are approved for graduate or upper level undergraduate studies only.

Approved Critical Fields
Undergraduate/Health Dental Hygiene Dietetics (Food and Nutrition) Health Information Management (formerly Medical Records) Laboratory Technology Medical Technology Nurse Anesthesia Nursing, licensed Practical Nursing, Registered (Associate Degree, Bachelor's Degree, & Diploma) Occupational Therapy Pharmacy Physician Assistant Radiologic Technology Respiratory Therapy	Graduate Health Fields Dentistry (General) Optometry Pharmacy Veterinary Medicine Master's Degree Dietetics (Food & Nutrition) Health Information Mgmt. (formerly Medical Records) Nursing Physical Therapy Radiologic Technology Respiratory Therapy Other Agriculture Education Gerontology DHR Nursing LINC Nursing

To learn more about these and other career fields, please see our Career Info section. If you are interested in a specific school and want to determine what fields of study they offer, please see our GA Colleges section.

To download our General Information Guide on Service Cancelable Loans, please click here.

For further details you can see the Federal Stafford Loan with Service Cancelable Loan Option regulations.

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