Eligibility

All student applicants must meet the following qualifications to be eligible for one of our loan products.  Only complete applications will be considered. Upon applying, review the application section thoroughly.

  • Female student (Primary Signer referred to as Student Borrower)
    • Enrolled full-time
    • United States Citizen
    • Georgia resident or student attending a Georgia school
    • 2.8 Minimum GPA
  • Guarantor (Secondary Signer who further guarantees loan)
    • Must be a financially responsible adult
    • May not be the same as Primary Signer (i.e. Self)
    • May not be Primary Signer’s Spouse
    • Must be actively employed with proof of income

* At this time, the Foundation does not offer loans to students pursuing internet-based degrees.

 

Application Deadline

 

Loan applications will be accepted between March 1st and May 13th for the 1st round of applications then during the 2nd Application Period from May 14th to August 10th for loans beginning in the Fall Term of the same calendar year (and for Spring and Summer Terms of the following calendar year). We strongly encourage interested students to apply early whether they know if they need the funds or not since students are not required to accept loans upon approval.  Loans are only accepted by applicants once SAF approves a loan and receives a fully executed promissory note and funds have been disbursed to the student borrower.

 

Our Loan Products

Freshman and Sophomores

$5,000 Max
  • 0% Interest for Full-time Student
  • 4% Fixed Interest following 6 month grace period
  • In-school Deferment
  • (additional details below)

Juniors and
Seniors

$7,500 Max
  • 0% Interest for Full-time Student
  • 4% Fixed Interest following 6 month grace period
  • In-school Deferment
  • (additional details below)

Graduate
Students

$7,500 Max
  • 0% Interest for Full-time Student
  • 4% Fixed Interest following 6 month grace period
  • In-school Deferment
  • (additional details below)

Provisions

Repayment Terms

The Borrower does not begin to accrue interest on a SAF loans until repayment starts six months after she has graduated. In the event the Borrower chooses to discontinue her educational program of study (i.e. “drops out”) she must begin repaying her SAF loan based upon her school departure date versus her graduation date. (The 6 month repayment grace period is effective as of May 2016 and only pertains to promissory notes signed after this effective date.  Notes signed prior to May 2016 still follow the 3 month grace period.)

Disbursement of Loans

All loan funds approved will be distributed to the Student Borrower via check in two parts.  The first loan disbursement occurs between mid-July and early August.  The second half of approved funds is disbursed by mid-December.  Student Borrowers are expected to use the funding to pay for cost of tuition and/or academic supplies (i.e. textbooks and other course materials). SAF reserves the right to declare a Student Borrower ineligible for further loans and fund disbursements if such Borrower is discovered to be using funds for non-academic purposes.

Interest

SAF loans accrue no interest until six months after graduation; then at a fixed rate of four percent (4%) per year. SAF loans do not accrue interest while the Borrower is enrolled in a full-time, academic program. SAF loans begin to accrue interest when the repayment term begins.  All loans have an 8 year term.  There is no penalty for early repayment.  If a borrower defaults on her loan, the interest rate may increase to 8%. Loan repayments enable the organization and current borrowers to help future applicants reach their educational goals.