How to Apply for SAL Loan Application Online in 2024?

Even though college years are the most crucial of all, yet no all students can take up a college education. For a student to make it to the college, a certain amount of expenditure needs to be made. To meet these expenditures most students take help from their families. But for some families, it is difficult to manage that much amount of money.

When that is the case, most students fall back on scholarships and other fund arrangements available for them. However, most public and private undergraduate colleges and technical degrees often take up a lot of money.

This article will explain more about the SAL loans which are at a student’s disposal as and when they fall short of required funds.

What is SAL Loan?

SAL loan is a general loan process available to students at a 1% fixed interest rate. One can take the loan for a certificate, diploma, associate, bachelors, or first professional degree course. Most private and public colleges in Georgia can apply for the loan.

The loan origination fee will be a cost to bear for students. They also have a late fee required for all those students who can’t pay the loan installment on time.

Priority for SAL loans goes to the HOPE, Zen Miller scholars, and previous year’s SAL loan recipients.

Some of the percentage inputs a student needs to make to qualify for the SAL loan are given below for your reference.

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Different costs for loan borrowersDetails of the costs
Origination Fee to be paid by loan bearers5%
Interest rate1% in general
Defaulter interest rate5% if the borrower fails to make the payments at the right time
Late Fee6% of the monthly payments
GPA for discharging loan amounts by technical college students3.5 or more
Loan cancellation provision for teachersThose who work as STEM (Science, Technology, Engineering and Maths) teachers
Keep in touch fee$10 60 days after the loan is disbursed
Repayment duration15 years
Minimum loan amount for post-secondary institutions$500
For TCSG post-secondary institutions minimum loan amount$300
Maximum term loan amount$4000
Loan limit in a college lifetime$36000
Loan limit for TCSG students$12000 in one’s college lifetime
Per year loan limit$8000
sal loan application

Steps to Apply for SAL loan Application

The SAL loan is on a first come first served basis and the process is undertaken annually. Each year the applicants have to apply and then go through the selection, certification, approval, and disbursement processes.

  • The complete application form of the applicants is passed on to the student’s listed college. Add the personal, professional, and educational details. Include information in all the other segments as required to complete the application form.
  • The institution needs to determine the applicant’s loan eligibility and then grant a loan amount for the eligible students.
  • A private email is sent to the student once the amount is determined.
  • Once the candidate accepts the offer in the first five calendar days they need to sign a promissory note. Once the note is signed the loan is processed for the student.
  • Loan funds are directly sent to the college and cannot be transferred under any circumstances.
  • The loans are given only to cover the cost of the education and must be returned as required.
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Also Read: How to Apply for Zam Cash Loan?

What are Application Requirements?

Different application requirements for the SAL loans include fulfillment of the following criteria.

  1. Students need to be US residents or citizens. They can also be eligible non-citizens like the ones with permanent resident status or the ones with refugee status.
  2. If they can maintain half of their time enrolled in their courses, they can apply for the loans.
  3. Students have already used up the different Federal and state scholarship options.
  4. The first loan recipients will be the Zen Miller and HOPE scholarship recipients.
  5. One must have completed the FAFSA (Free Application for Federal Student Aid).

Who is Eligible?

You will be eligible if you meet the below requirements.

  1. To get through the loan process, one needs to maintain satisfactory academic progress (SAP) as per their institution’s needs.
  2. Students applying for the funds must be 18 years or older if a citizen and for eligible non-citizens, the age goes up to 26 years before which they must have migrated to the US.
  3. Previous SAL fund recipients must make their KIT payments on time.
  4. They must be current residents of Georgia to apply for the loans.


The benefit of the SAL loans is that students have an option to fetch money even when they are exhausted of options. Additionally, it is an amount that is nullified for those who take up STEM teacher positions and also those who obtain a particular STEM percentage.


If you are in Georgia looking for a student loan that does not draw you empty, SAL loans can be your best option. Refer to the article to know more about the application process of SAL.

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