Students who need funds beyond Financial Aid to pay for education-related expenses may be interested in payment plan and loan options available at Southeastern Technical College. Southeastern Technical College requires all students who wish to seek funds to first complete the Free Application for Federal Student Aid and complete any required verification.
Payment PlanIn addition to HOPE and PELL Grants, Southeastern Technical College offers a payment plan option through NelNet to assist students in paying for college expenses. The NelNet plan requires upfront payments and payments during each term and must be paid by the end of each term of enrollment. More information is available at:
Southeastern Technical College does not participate in the Federal Stafford Student Loan program or the Federal Parent PLUS Loan program. Loans should be used as a last resort to pay for education expenses. Students needing loans to finance their education must consider state and private loan options.
Private student loans are different from federal student loans in that they are not guaranteed by the federal government, require a credit check, and often require a co-signer. Terms and conditions vary significantly by lender. Carefully consider your needs, and then select a loan product that best meets your individual situation.
Georgia low-interest loans
The state of Georgia offers a low-interest loan program to assist students.
The Student Access Loan (SAL). SAL is a 1% loan and technical college students are eligible for up to $3,000 per academic year.
Criteria for the SAL Loan are:
- Must be a GA resident and/or military personnel or dependent
- Monthly “Keep in Touch” payments while in school and grace period
- FAFSA required
- Half-time enrollment is required (at least 6 credit hours)
- Students are selected randomly by Georgia Student Finance Commission
- Application cycle: Early June through September
- For more information or to apply visit:
In addition to the eligibility requirements from Georgia Student Finance Authority, Southeastern Technical College has developed additional eligibility requirements. In order to have a Student Access Loan certified or to receive a Student Access Loan disbursement in any term, students must:
- have a minimum of a 2.75 GPA; and
- be in Good Standing for Satisfactory Academic Progress (cannot be on warning, probation, suspension or on an Academic Plan); and
- have not borrowed the Aggregate Federal Loan Limits;
- have not reached the Pell Lifetime Eligibility of 600%; and
- have never been in a delinquent status on the monthly Keep in Touch (KIT) payments. If the borrower is ever in a delinquent status on the KIT payments, the borrower will not be eligible for future disbursements or future loans in the SAL Program; and
- complete the Financial Awareness Counseling at https://studentloans.gov/myDirectLoan/counselingInstructions.action?counselingType=fa.
A student may appeal Southeastern Technical College’s institutional requirements for certifying a Student Access Loan by writing a letter to the Director of Financial Aid if they are not meeting one of the requirements listed above.
Delinquency of the KIT payments cannot be appealed.
Southeastern Technical College certifies private loans from various lenders. It is important to note that Private Education Loans should be used as a last resort to pay for education expenses and require you meet satisfactory academic progress standards. Private Education Loans are different from Federal Direct Stafford Loans in that they are not guaranteed by the federal government, require a credit check, and often require a co-signer. Interest rates, terms, and conditions can be significantly different depending on your credit rating and the lender you select. Consider your options carefully before you apply for a loan.
Southeastern Technical College offers an online loan comparison tool for you to use called FASTChoice. FASTChoice is designed to assist you in making the educational loan choice that is best for you and provides a side-by-side comparison of the lenders, loan terms, interest rates, repayment options, and the ability to apply online. FASTChoice is not a lender. Please keep in mind that you may select any lender of your choice, even if they do not appear on FASTChoice.
Southeastern Technical College selected these lenders to be on the FASTChoice Lender List for the following reasons:
- Competitive borrower rates and terms
- Loans are offered to community college students
- Funds are sent electronically (EFT) when possible
- Easy online application process
- Longevity and stability in private loan lending
To learn more about Private Education Loans, visit FASTChoice.
Your lender will notify us of your credit approved application. After determining your actual eligibility, we will certify your loan. The process can take up to 5 – 6 weeks from the time you apply until receipt of funds.
If you choose a loan option that is not listed, please contact the lender directly to determine the application process.
Once the loan proceeds are received by STC they will be disbursed to your STC student account and your outstanding charges, if any, will automatically be deducted before the balance is sent out. Any remaining credit balances will be issued by check. No loan funds will be disbursed before the start of classes and refunds will be sent out according to the refund schedule issued by the Business Office each term.