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 Learn more: Georgia's scholarship and aid programs |
Georgia's private colleges are affordable to students of all family incomes. Over three-quarters of GFIC's private colleges have annual tuition of less than $14,000. Nearly 70 percent of the full-time undergraduate students at Georgia's independent institutions receive some form of financial aid.
Through a combination of aid programs -- scholarships, grants, loans and work study -- most students and their parents find that attending a private college or university within the state can be as affordable as attending a public institution, and that the value of a private, liberal arts education is well worth any difference in cost.
Types of aid
Georgia's HOPE Scholarship is available to qualified students attending any one of Georgia's 25 independent colleges and universities. The colleges offer other scholarships on the basis of academic merit or leadership skills. Many students also qualify for private scholarships offered through GFIC by companies and organizations such as Coca-Cola, and UPS. Scholarships are awards that do not need to be repaid.
The Georgia Tuition Equalization Grant is also available to all Georgia residents attending private colleges or universities within the state. The federal government subsidizes other grant programs on the basis of financial need, including the Federal Pell Grant and the Federal Supplemental Education Opportunity Grant. As with scholarships, grants are awards that do not need to be repaid.
The Federal Perkins Loan and the subsidized and unsubsidized Federal Stafford loans are three of the most popular loan programs for college students. Loans are awarded on the basis of need and must be repaid with interest. Subsidized loans are preferable, since the government pays interest while the student is enrolled in school.
The federal work-study program provides jobs for undergraduate and graduate students who display financial need. Through work study, students accept employment positions on and off campus and apply their earnings to college expenses.
To qualify for any need-based aid and most scholarships, you will need to complete the Free Application for Federal Student Aid (FAFSA). The FAFSA is available online or in your high school guidance counselor's office.
Cost and Financial Aid in GFIC Institutions
Average costs and financial aid at GFIC schools
The table below shows the average tuition, room, board, and other expenses at 25 GFIC colleges and universities in 2008, followed by average financial aid awards, and the ultimate cost for Georgia's privately educated students and their families.
| College expenses | |
| Tuition and fees | $14,965 |
| Books/supplies | $1,000 |
| Room and board | $6,179 |
| Total | $22,144 |
| Grants and scholarships | |
| Federal grant | $2,400 |
| TEG & HOPE | $4,700 |
| Institutional grants/scholarships | $5,870 |
| Total | $12,970 |
| Average student loans | $3,430 |
| Student work study | $1,500 |
| Average amount a family must pay: | $2,640 |
The Georgia Foundation for Independent Colleges, Inc.
Suite 1730, Resurgens Plaza, 945 East Paces Ferry Road, Atlanta, GA 30326
voice: 404.233.5433 | fax: 404.233.6309 | email: gfic@georgiacolleges.org
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