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Horry-Georgetown Technical College

Loan Programs

Horry-Georgetown Technical College offers students Direct Lending Loans (both subsidized and unsubsidized) and PLUS Loans, for parents of dependent students.

Types of Federal Stafford Student Loans Available:


A subsidized loan is awarded on the basis of financial need. Students are not charged any interest before repayment begins or during authorized periods of deferment. The federal government "subsidizes" the interest during these periods.


An unsubsidized loan is not awarded on the basis of need. Each loan is charged interest from the time the loan is disbursed until it is paid in full. If a student allows the interest to accrue (accumulate) while in school or during other periods of nonpayment, it will be capitalized—that is, the interest will be added to the principal amount of the loan and additional interest will be based on that higher amount.

PLUS Loans

PLUS Loans are loans that parents can request to pay for a dependent child's education expenses if a dependent undergraduate student is enrolled at least half-time. PLUS Loans are unsubsidized.

To learn more about loans, visit the U.S. Department of Education's Direct Loan Program and visit Student Aid On the Web.

More about Student Loans

Basic eligibility for a student loan: A student must be enrolled in an approved degree, diploma, or certificate program and registered for at least six credit hours during the semester(s) during which loan funds are received.  The student must also meet all general eligibility requirements for federal aid. All of these criteria must be met at the time of the loan disbursement each semester.

Requesting a Loan

Students are automatically offered the maximum loan award allowed, based on independent or dependent status.  It is up to the student to accept how much they want to receive and to have it disbursed for 2 or 3 semesters.  If you need loan money for all three semesters (fall, spring, and summer), do NOT accept all loans offered.  What you accept will be divided between fall and spring semesters.  What you did NOT accept will be given to you for the summer semester.

Disbursement of Funds

The Financial Aid Office disburses loans equally between fall and spring semesters . If a student plans to attend summer semester and needs loans, the student must request disbursements accordingly. 

Examples of Disbursement

Independent Students:  If offered $3500 and $6000, accept $3500 and $3000.  This gives you $3250 for BOTH fall and spring semesters, and $3000 for summer (what you did not accept in fall).

Dependent Students: If offered $3500 and $2000, accept $2666 and $1000.  This gives you $1833 for BOTH fall and spring, and $1834 for summer (what you did not accept in fall).

Student Responsibilities

You must complete loan entrance counseling and sign your promissory note before the HGTC Financial Aid Office can process your loan. The lending agency cancels your student loan if you do not sign the promissory note within 30 days of the loan award. Failure to complete these two items will result in a delay in receiving loan funds.

Cancellation of Loans

Your loan may be cancelled if you withdraw from classes or drop below six hours during the loan period. The student may cancel or request a loan reduction by way of written request to the Financial Aid Office. When you drop below six hours or you are about to graduate, you must complete loan exit counseling.

Emergency Loan Programs

Students may receive only one emergency loan or one book loan per academic year.  Eligibility information for Emergency Loans is available in the Financial Aid Office.

John D. Gilland, III Memorial Fund: Established in 1986 by Dr. and Mrs. J.D. Gilland of Conway in memory of their son, this fund provides emergency loans for full-time students who reside in Horry County.

Plantation Federal Student Emergency Loan Fund: Established in 1993 by Plantation Federal Savings Bank, this loan fund provides emergency loans for full-time students who reside in Georgetown County.

Ruth Lewis and Helen G. Stuart Emergency Loan Fund: Established in 1997, this fund provides emergency loans for Georgetown residents enrolled full-time and attending classes at one of HGTC's Horry County campuses. The fund honors Ruth Lewis, the mother of Neil Lewis, who established the fund, and Helen G. Stuart, a long-time HGTC employee.

Archie Dargan and Harold Cushman Construction Emergency Fund:  Established by Dargan Construction in Myrtle Beach in honor of Archie Dargan and Harold Chushamn, this fund provides emergency funding for college related educational expenses for HGTC students facing financial difficulties that may preclude them from attending college if additional financial needs are not met.  Funds are available to students who are enrolled at HGTC in the Construction Project Management Program.

Franklin and Elsie Burroughs Endowed Loan Fund: Established in 2000 by family members and friends to memorialize Mr. and Mrs. Burroughs, this fund provides emergency loans through the HGTC Foundation. Funds are available to full-time students with a minimum 2.0 GPA, and who were born in Horry County or who graduated from Horry County schools.

Foundation Emergency Book Loan: Established in 2003 by the HGTC Foundation to provide small emergency book loans for students. Dates for applications are posted each semester.