Loans

• Federal Stafford Loan Programs: Additional information on the Stafford Loan programs can be found at this website.
• Federal Stafford Loans Frequently Asked Questions: Check this site for answers to most of your loan questions.
• FSA Student Loan Ombudsman: If at any time you experience problems with your lender, you can contact the Ombudsman's office for assistance. They can be contacted at 877-557-2575 or visit their website.
• Loan Limits: There are both annual and lifetime loan limits for students. This web site provides important information on those limits.

Student Access Loan (SAL): View information on the Student Access Loan (SAL) Program administered by Georgia Student Finance Authority (GSFA).

If you are selected and eligible for SAL, the funds will not be available to apply toward your tuition and fees by the fee payment deadlines. For students who have satisfied all necessary procedures with GSFC, the earliest your SAL funds will be received is after the drop/add period.

6 Important Facts to Know About Private Loans

1. Private loans are a type of non-federal student loan provided by a bank or lending institution to assist with the cost of education.
2. Always consider federal loan options before considering borrowing private student loans because the federal student loans typically have better terms, for example: fixed interest rate, more flexible repayment terms, etc.
3. In addition to private loans for students, several lenders offer private loans for parents, family members, friends, or other sponsors. This option allows families to potentially secure a loan in the name of the applicant instead of the student.
4. Graduate and undergraduate students are eligible to apply for alternative loans unless otherwise specified, but when doing so, you will be leaving the Clayton State University web site.
5. These loans are not backed by the federal government and therefore may have terms and conditions less favorable than federally funded student and parent loans. We encourage all students and parents to first consider and apply for federal student loans before applying for private loans.

Students may borrow with any lender offering a private student loan. Clayton State University does not discriminate against lenders and will certify loans from any private lender provided the student meets the lender’s eligibility requirements. 

For more information regarding the differences between federal and private loans visit: https://studentaid.gov/understand-aid/types/loans/federal-vs-private.

• Private Loan Program: Additional information on private student loans can be found at this website.
• Private Loans Frequently Asked Question
• Private Loan Agreement Form: Please complete this form if you wish to be ONLY be reviewed for a private loan. You must complete the FAFSA if you wish to be considered for federal aid such as grants and subsidized or unsubsidized students loans.

• Loan Exit Counseling: You must complete exit counseling when you leave school or drop below half-time enrollment. The purpose of exit counseling is to ensure you understand your student loan obligations and are prepared for repayment. You'll learn about what your federal student loan payments will look like after school. It will also recommend a repayment strategy that best suits your future plans and goals.
• Salary Research: This will allow you to research salaries to help see if you will make enough money to repay your student loans.
• Income Driven Repayment (IDR): The Department of Education has now made it even easier for a student to apply for the new Income Based Repayment Plan by adding an electronic IBR application to Student Loans. Because this program requires a student to verify their income, they have also included the IRS data retrieval tool as part of the electronic application process.
• Loan Repayment Calculator: Use this calculator to help you determine your monthly student loan payment.
• You will be able to access your loan history, loan balance, lender and guarantor information at https://studentaid.gov/h/manage-loans. Please note, as a consumer you need to be aware that the U.S. Department of Education will post your Federal Direct Loan data on the National Student Loan Data System (NSLDS) which is accessible by federal student loan guarantee agencies, lenders and institutions which the Department of Education has authorized access to this data system.