Student Loan Program

Atlanta Technical College students can now apply for a federal student loan to assist with educational expenses.

Federal Student Loan Check List

Understand that this is a STUDENT LOAN and the funds must be repaid with *interest!  Understand that you must be enrolled at least half time each semester to receive a federal student loan!

  1. 11-12 FAFSA must be on file at ATC and your financial aid file complete (including Verification, if selected)
  2. Complete the DL Loan Request indicating what terms (**spring 2012 or ***spring and summer 2012) and amount of loan funding you desire.
  3. Complete Entrance Counseling ( www.studentloans.gov)
  4. Complete a Master Promissory Note ( www.studentloans.gov)
     *Please see interest rate information below

*   **Spring 2012 = Enrollment from 1/5/2012 – 5/3/2012

*   ***Spring and summer 2012 = Enrollment from 1/5/2012 – 8/9/2012

REQUEST FOR STUDENT LOAN FUNDS -APPLICATION

INSTRUCTIONS FOR COMPLETING
THE FAFSA. LOAN MPN & ENTRANCE COUNSELING


INTEREST RATES FOR STAFFORD AND PLUS LOANS


EFFECTIVE JULY 1, 2011

Fixed Rates:

Direct Loan and FFEL Program Loans First Disbursed on/after July 1, 2006

NOTE: Effective July 1, 2010, the only loans that can be made are Direct Loans.

Loan Type

Fixed Rate for Loans First Disbursed Between July 1, 2010 and June 30, 2011

Fixed Rate for Loans First Disbursed Between July 1, 2011 and June 30, 2012

Subsidized Loans for undergraduate students

4.50

3.40

Fixed Rate for Loans First Disbursed on or after July 1, 2006

Subsidized Loans for graduate and professional students

Unsubsidized Loans for all students

6.80

PLUS Loans (Direct Loan)

7.90

PLUS Loans (FFEL)

8.50

NOTE: Beginning with loans first disbursed on or after July 1, 2006, the interest rate on all Stafford Loans in both the FFEL Program and in the Direct Loan Program was fixed at 6.8 percent. That rate continues to apply to all unsubsidized Stafford Loans and to subsidized Stafford Loans for graduate and professional students. Starting with loans first disbursed between July 1, 2008 and June 30, 2009, the interest rate on subsidized Stafford Loans for undergraduate students was reduced to 6.0 percent, with additional reductions each year through June 30, 2012.

Variable Rates:

Direct Loan and FFEL Program Loans First Disbursed Between July 1, 1998 and June 30, 2006

These rates were calculated based upon statutory formulas and equal the bond equivalent rate of the 91-day Treasury bills auctioned on May 31, 2011, plus certain statutory percentage add-ons. The 91-day Treasury bills were auctioned at 0.061 percent, rounded to 0.06 percent.

LOAN TYPE

LOAN STATUS

For the Period
July 1, 2010 to
June 30, 2011

For the Period
July 1, 2011 to
June 30, 2012

Subsidized and
Unsubsidized Loans

Repayment or Forbearance

2.47

2.36

In-school, Grace, or Deferment

1.87

1.76

PLUS Loans

All Statuses

3.27

3.16

Notes:

  • Interest rates on Stafford and PLUS loans first disbursed before July 1, 1998 are calculated using different statutory formulas, percentage add-ons, or both.
  • Generally, interest rates on Consolidation Loans are fixed rates calculated based on the weighted average of the loans being consolidated rounded up to the next higher 1/8 of one percent, not to exceed 8.25 percent.

This page is printed from www.studentloans.gov