Cost of Attendance
Notification of Aid
Accept/Decline Your Award
Maintaining Eligibility for Aid
Consumer Information & Policies
Georgia Tech participates in Direct Lending, which provides a streamlined, high-quality, cost-effective, and dependable loan program for students and families. The Federal Direct Loan Program includes the following loans.
Subsidized Direct Student Loans are federally guaranteed loans based on financial need. This loan is only offered to undergraduate students. Interest does not accrue on the loan while you are in school at least half time or during any future deferment periods. Students are not required to start making payments on this loan until six months after they graduate or drop below half-time. This is known as the "grace period."
Comprehensive information on these loans is available from the U.S. Department of Education.
Learn More About Loans
Unsubsidized Loans are federally guaranteed loans that are not based on financial need. Interest accrues from the time the loan is distributed to Georgia Tech.
Students are not required to start making payments on this loan until six months after they graduate or drop below half-time. This is known as the “grace period.”
A Parent PLUS Loan is an education loan specifically for parents (biological or adoptive) of dependent undergraduate students. Parents can borrow up to the cost of attendance minus any other financial aid the student is receiving. For example, if the cost of attendance is $25,000 for the year and the student has a scholarship of $5,000 toward the school cost, the parent can borrow up to $20,000.
Applying for a Parent PLUS Loan
Parents must complete this application; it cannot be completed by a student. Be sure that all information is entered correctly, as incorrect information could delay the processing of the application.
Interest rates are set by the Department of Education each year on or near July and will be updated accordingly at that time on our website.
Repayment of principal and interest begins 60 days after the loan is fully disbursed or parents now have the option to defer payments while their student is in school. Parents can also opt to let the interest accrue until the student leaves school; However, any interest that accrues from the date of disbursement is added to the outstanding loan balance through a process called capitalization.
Apply for a Parent PLUS Loan
The University System of Georgia launched a financial literacy initiative known as Know More. Borrow Less. This system-wide initiative is a comprehensive plan aimed at reducing barriers to financial aid, improving students’ understanding of borrowing and reducing student debt. The goal of Know More. Borrow Less. is to provide students timely information about their student loans.
To support this initiative, our office will provide loan borrowers with personalized debt notifications that include the amount the student currently owes and the expected monthly payment and interest costs. A complete listing of federal loans borrowed are always available to view through StudentAid.gov.
Review the financial aid application process for federal loans.
Apply for Loans
On August 28th, the Department of Education and the Biden-Harris Administration announced a three-part Student Debt Relief Plan, to include:
Final extension of the student loan repayment pause through December 31, 2022.
For student loan borrowers with individual incomes less than $125,000 (or $250,000 for households), up to $20,000 in debt cancellation to Pell Grant recipients with loans held by the Department of Education, and up to $10,000 in debt cancellation to non-Pell Grant recipients. The relief includes current students and borrowers who have federally-held undergraduate, graduate, and Parent PLUS loans that have been fully disbursed by June 30, 2022.
A new income-driven repayment plan that will substantially reduce future monthly payments for lower- and middle-income borrowers.
For more information, including a set of Frequently Asked Questions, please visit https://studentaid.gov/debt-relief-announcement/one-time-cancellation. Further details will be announced in the coming weeks. To be notified of Federal Student Loan Borrower updates, sign up at the Department of Education subscription page.