As of this writing, our federal government still hasn’t addressed the issue of student loans, which come with such high interest rates that graduates are left drowning in debt before they even get started living their lives. Some states, including Georgia, offer alternatives to traditional student loans for college students that are well worth investigating.
The Georgia Student Finance Commission offers a range of options, including the following:
- State and lottery-funded scholarships
- Service cancelable loans
Scholarships are available to students based on merit, military service and willingness to give back to the state economy and people by working in certain careers in Georgia following graduation. For example, The Scholarship for Engineering Education (SEE) provides funds to students for an engineering degree in exchange for the student’s commitment to work in a qualified engineering-related field in Georgia for a specific period upon graduation.
There is even an option for financial aid that requires little more than for you to be a citizen of Georgia who attends an in-state public or private college, the Tuition Equalization Grant. While grants may not cover 100 percent of your college costs, they can go a long way to defraying expenses and reducing the amount of repayable student loans you need to take out.
Unfortunately, if you are already struggling with debt due to student loans, bankruptcy cannot discharge your responsibility. But it may still be worthwhile for addressing other debt while you focus on repaying your loans. We can provide guidance on what steps you can take to get out from under and move forward with your life.