---
title: O.C.G.A. § 20-3-405.6. Repayment schedule; default.
collection: code
id: 20-3-405.6
cite_as: O.C.G.A. § 20-3-405.6 (2025)
canonical_url: https://georgiacommons.org/code/20-3-405.6
md_url: https://georgiacommons.org/code/20-3-405.6.md
text_url: https://georgiacommons.org/code/20-3-405.6/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t20-ch3-18-(v17a)-2025-pdf.pdf?sfvrsn=10d12596_0#page=268
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Session of the General Assembly of Georgia
heading_path: EDUCATION / POSTSECONDARY EDUCATION / SCHOLARSHIPS, LOANS, AND GRANTS / GEORGIA STUDENT FINANCE AUTHORITY / Education for Public Service Student Loan
---

# O.C.G.A. § 20-3-405.6. Repayment schedule; default.

(a) The authority shall by rule and regulation establish a repayment schedule or schedules for EPS Student Loans. Students shall be required to pay accrued interest annually on the loan or loans while attending a postsecondary institution except in cases of financial hardship. Students shall not be required to begin the repayment of the principal of such loans until the earliest occurrence of one of the following:

(1) The student completes his or her course of study;

(2) The student graduates from an eligible postsecondary institution;

(3) A calendar year has passed since the student borrowed the maximum amount of EPS loans for the degree the student is seeking under subsection (b) of Code Section 20-3-405.2; or

(4) The student has not been enrolled in an eligible postsecondary institution for two academic quarters or two academic semesters.

(b) If the student defaults on the repayment of one or more EPS loans, the interest rate for such loan or loans shall be converted to the reasonable interest rate as defined in Code Section 20-3-405.1.

## History

Code 1981, § 20-3-405.6, enacted by Ga. L. 2008, p. 626, § 4/SB 169.