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Published Sunday, July 20, 2008 in Education

HOPE, TEG amounts increase

Residents of Georgia seeking undergraduate degrees from eligible private colleges and universities can get extra financial help from the State of Georgia during the upcoming academic year.

Effective July 1, the Private HOPE Scholarship increased from $3,000 to $3,500 per academic year. The increase is the first signed into law since its inception in 1996. In addition, the Tuition Equalization Grant has gone from $1,100 to $1,200 -- a combined total of $4,700 for students who qualify for HOPE and attend a private institution.

Georgia's FY 2009 budget provides an increase of $2.5 million for the popular HOPE Scholarship and TEG program. Last year, the programs gave financial assistance to more than 31,000 Georgia students.

"With tuition, textbooks and additional fees at an all time high, this boost will make a real difference for students and parents," says Tim Connell, president of the Georgia Student Finance Commission, which administers the HOPE Scholarship and TEG program. "These increases represent the governor's and General Assembly's commitment to helping Georgia students take advantage of the education opportunities offered by those institutions, which typically have to charge higher tuitions than state-supported colleges."

Eligible students will benefit for the HOPE and TEG increase when they enroll for the 2008-2009 school year. Students must demonstrate academic achievement by earning and maintaining a 3.0 grade point average to qualify for the HOPE Scholarship and must be a full-time student maintaining satisfactory academic progress to qualify for the TEG.

For additional information about the HOPE Scholarship and TEG, including an online application, visit www.GAcollege411.org .

Since 1965 the GSFC has provided more than $9 billion in financial aid to help nearly two million Georgian students. GSFC funds and services 15 different low-interest education loan programs including Stafford and PLUS loans, consolidation loans and state service-cancelable loans.

GSFC also administers multiple scholarship and grant programs.

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