Students are required to have an updated address on file with the Department at all times. Disbursement of Funds Financial aid awards are first applied to unpaid tuition and fees and a check for the balance of remaining financial aid is mailed to the student. Generally, your Regents Scholarship disbursement will be included in that check. Interest Rate Interest accrues at the rate of three percent from the date funds are advanced. Interest does not accrue while you are enrolled on at least a half-time basis.
Interest begins to accrue at the end of the nine month grace period.
A credit will be given, as specified in the agreement, based on services rendered. It is the borrower's responsibility to file the necessary forms with the Student Loans, Grants and Scholarships Department, on a timely basis, in order for credit to be granted. In the event the student is employed outside the State of Georgia, the entire amount of scholarship received plus 3 percent interest, is repayable to The University of Georgia. Repayment begins on the first day following the ninth month of your grace period. Your grace period begins after you graduate or cease to be enrolled on at least a half-time basis.