GOAL Loans

The GOAL - The Guilford Opportunity Alternative Loan

Provides Needed Funds and Reduces the Loan Burden on Qualified Students:

Guilford College has a long history of serving the higher education needs of talented students regardless of their family's financial means. The (GOAL Prom Note) GOAL is a loan program designed with these students in mind - giving them the opportunity to attend Guilford without accumulating an overwhemling debt load.

A Co-signer is required for GOAL Loans. The co-signer must be a parent or legal guardian of the student borrower and must be a U.S. citizen.

The GOAL offers needy traditional campus students from North Carolina an interest-free loan while they're enrolled full-time at Guilford for a period not to exceed eight academic semesters. The interest rate of 8.25% goes into effect 6 months after the last day of enrollment and remains in effect for the life of the loan. The maximum loan amount a student can borrow is $7,000 per academic year ($3,500 per semester). GOAL loans are need-based and cannot exceed a student's demonstrated financial need; other financial assistance is taken into account when calculating GOAL loans.

Reducing the burden of loan debt is one more way that Guilford College can help students and their families take advantage of a Guilford education. Students receiving financial assistance now can take advantage of a special loan program that focuses on reducing cumulative debt that students may carry.

The Guilford Opportunity Alternative Loan (The GOAL) is a student-achievement program that supports students while at Guilford and reduces their payback requirements after graduation.

The GOAL provides loans - worth a minimum of $2,500 per year - to students needing substantial financial assistance from Guilford, federal and other sources. Students who graduate with a cumulative grade-point average of 2.65 or greater will have 35 PERCENT of the cumulative loan total they borrowed CANCELED.

Following a six-month grace period after graduation, borrowers begin repaying the GOAL loan at a monthly rate calculated to repay all principle and interest within 10 years. Borrowers may defer payment of principle only during documented periods of a least half-time enrollment in graduate/professional school. Interest payments ar required immediately following the six-month grace period.

For more information about these programs, please call the Guilford College Office of Enrollment today at 800.992.7759 or e-mail at financialaid@guilford.edu.