{"data":{"id":"us-ga/o.c.g.a.-20-3-400.1","jurisdiction":"us-ga","citation":"O.C.G.A. § 20-3-400.1","heading":"Definitions.","body":"As used in this subpart, the term:\n(1) “Beginning date of a postsecondary course of study” means the first day of postsecondary classes attended by a student for credit toward an associate degree or baccalaureate degree. In the case of a program that includes undergraduate studies and is designed for completion within five years, the first day of such classes for credit in such a program is the beginning date of a postsecondary course of study, whether the program leads to a baccalaureate degree or a first professional degree. Advanced placement classes or classes attended under a program of joint or dual enrollment in a high school and a postsecondary institution do not establish the beginning date of a postsecondary course of study.\n(2) “Cost of attendance” of a student means the cost of attendance calculated in accordance with Title IV.\n(3) “Eligible high school” has the same meaning as set forth in Code Section 20-3-519.\n(4) “Eligible postsecondary institution” means:\n(A) A unit of the University System of Georgia that offers associate degrees, baccalaureate degrees, or first professional degree programs; or\n(B) An institution of higher education located in this state that offers associate degrees, baccalaureate degrees, or first professional degree programs; that is accredited by a regional accrediting agency recognized by the United States Department of Education; that is not a Bible school or college; that admits as regular students only persons who have a high school diploma, a state approved high school equivalency (HSE) diploma, or a degree from an accredited postsecondary institution; and whose students are eligible to participate in the federal Pell Grant program.\n(5) “First professional degree” means a degree that qualifies a graduate to practice a profession and was earned through a first professional degree program.\n(6) “First professional degree program” means a professional degree program that meets the requirements established by the program regulations promulgated by the Georgia Student Finance Commission which, at a minimum, shall include, but not be limited to, the following:\n(A) Accepts students after the completion of the sophomore or junior year; and\n(B) Results in the award of a first professional degree.\n(7) “Graduate On Time Student Loan” or “GOT Student Loan” means a student loan provided in accordance with the provisions of this subpart.\n(8) “Reasonable interest rate” means an interest rate no higher than the Wall Street Journal prime rate effective on July 1 for the fiscal year beginning July 1 of each year. Except for GOT Student Loans that have been reduced to an interest rate of 1 percent in accordance with subsection (e) of Code Section 20-3-400.2 or an interest rate of 2 percent in accordance with subsection (f) of Code Section 20-3-400.2, the reasonable interest rate for the fiscal year shall apply to all outstanding GOT Student Loans during that fiscal year without regard for the interest rate at the time of a loan’s origination or at the time of the student’s default.\n(9) “Title IV” means Title IV of the federal Higher Education Act of 1965, 20 U.S.C. Section 1070, et seq.","path":["TITLE 20 Education","CHAPTER 3 Postsecondary Education","Article 7 Scholarships, Loans, and Grants","PART 3 Georgia Student Finance Authority","Subpart 4B Graduate On Time Student Loans"],"source_url":"https://archive.org/download/gov.ga.ocga.2018/release86.2022.11/gov.ga.ocga.title.20.odt","current_through":"Release 86 (2022-11)","vintage":"Public.Resource.Org bulk O.C.G.A., Release 86 (2022-11), retrieved 2026-09-17","retrieved_at":"2026-09-17T19:34:57Z","sha256":"73ef636a3435114ff756d6166be5dc7224ee4e2baa7f12ed7323aa6b3ae70e36","source_id":"us-ga","stale":false,"prev":"us-ga/o.c.g.a.-20-3-400","next":"us-ga/o.c.g.a.-20-3-400.2"},"notice":"GroundRules: Original legal text. Not legal advice."}