Georgia § 20-3-400 - 5. Repayment schedule; default.
Full text of Georgia Official Code of Georgia Annotated § 20-3-400 — 5. Repayment schedule; default., with citation guidance and answers to common questions.
§ 20-3-400. 5. Repayment schedule; default.
The authority shall by rule and regulation establish a repayment schedule or schedules for GOT Student Loans. Students shall be required to pay accrued interest annually 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: The student completes his or her course of study; The student graduates from an eligible postsecondary institution; One calendar year after the student's eligibility for a loan under this subpart ends in accordance with subsection (g) of Code Section 20-3-400.2; or The student has not been enrolled in an eligible postsecondary institution for two academic quarters or two academic semesters. If the student defaults on the repayment of one or more GOT loans, the interest rate for such loan or loans shall be converted to the reasonable interest rate as defined in Code Section 20-3-400.1 . (Code 1981, § 20-3-400.5 , enacted by Ga. L. 2008, p. 626, § 3/SB 169.)
Frequently Asked Questions About Georgia § 20-3-400
What does Official Code of Georgia Annotated § 20-3-400 cover?
Section 20-3-400 ("5. Repayment schedule; default.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Georgia § 20-3-400?
A common citation format is "Official Code of Georgia Annotated § 20-3-400" (Georgia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 20-3-400 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Georgia.