More Georgia College Students Apply For Loan Program

Students struggling to pay college bills have turned to Georgia’s new low-interest loan program for help. About 6,000 students applied for the Student Access Loan Program — up from the nearly 5,100 who applied during the first round of applications last year. While the state had to conduct a second round of applications last year to award the money, that should not be necessary this year because more students know of the program. Georgia lawmakers set aside $20 million in lottery revenue for the loan program when they overhauled the merit-based HOPE scholarship, cutting the award amount for recipients. Besides HOPE, the Georgia Lottery also funds the state’s pre-kindergarten program. The loans won’t cover all college costs, as the maximum annual award is $10,000. Instead, the program was designed to fill financial holes for students and families who’ve exhausted all other options and still need additional money. This events has an impact on society, because it means that more and more families are unable to pay off college bills, which will result in their child leaving college in debt. Since in this day in age of the economy, the child is not guaranteed a job. Then, the child wil spend te rest of their life focused on paying back these loans. This will have a negative affect on the country, because children will not become educated due to financial reasons. This should not be a legitimate reason of one to be uneducated. Hopefully, in the future, this financial problem will be resolved.