The Atlanta Journal-Constitution
Starting Monday, Georgia students can apply for a low-interest loan designed to serve as a "gap stop" for those who need extra help affording college.
The program is no money tree. Loans are estimated to reach less than 6,000 of the neediest students. Recipients may be arbitrarily chosen via computer.
Though lawmakers last February set aside $2o million in lottery revenue to launch the Student Access Loan Program as part of the HOPE scholarship overhaul, details of the program were only learned Tuesday by The Atlanta Journal-Constitution.
The maximum award to a student will be $10,000, said Tim Connell, president of the Georgia Student Finance Commission, which oversees HOPE and administers the loans. He estimated the average award will be $3,500, which would allow about 5,700 students to receive the loan.