Georgia § 20-3-400-5 Repayment schedule; default

Georgia Statutes

§ 20-3-400-5 — Repayment schedule; default

Georgia § 20-3-400-5

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This text of Georgia § 20-3-400-5 (Repayment schedule; default) is published on Counsel Stack Legal Research, covering Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

O.C.G.A. § 20-3-400-5 (2026).

Text

(a)The authority shall by rule and regulation establish a repayment schedule or schedules for GOT Student Loans. Students shall be required to pay accrued interest annually while attending a postsecondary institution except in cases of financial hardship. Students shall not be required to begin the repayment of the principal of such loans until the earliest occurrence of one of the following:

(1)The student completes his or her course of study;

(2)The student graduates from an eligible postsecondary institution;

(3)One calendar year after the student's eligibility for a loan under this subpart ends in accordance with subsection (g) of Code Section 20-3-400.2 ; or (4) The student has not been enrolled in an eligible postsecondary institution for two academic quarters or two academic sem

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(a) The authority shall by rule and regulation establish a repayment schedule or schedules for GOT Student Loans. Students shall be required to pay accrued interest annually while attending a postsecondary institution except in cases of financial hardship. Students shall not be required to begin the repayment of the principal of such loans until the earliest occurrence of one of the following: (1) The student completes his or her course of study; (2) The student graduates from an eligible postsecondary institution; (3) One calendar year after the student's eligibility for a loan under this subpart ends in accordance with subsection (g) of Code Section 20-3-400.2 ; or (4) The student has not been enrolled in an eligible postsecondary institution for two academic quarters or two academic semesters. (b) If the student defaults on the repayment of one or more GOT loans, the interest rate for such loan or loans shall be converted to the reasonable interest rate as defined in Code Section 20-3-400.1 .