Loans

Loans are borrowed money that usually have to be paid back, plus interest, even if you don't finish school. The student's school is generally responsible for determining your loan package, but you must complete a FAFSA (www.fafsa.ed.gov)in order to be considered. If you have specific questions regarding financial aid for a particular school, contact the financial aid office at that school. Students generally have to complete some type of financial entrance counseling and sign a promissory note in order to receive loan assistance.

Federal Loans

  • Federal Loans - must complete the FAFSA (www.FAFSA.ed.gov) in order to apply for federal aid.
  • Direct Stafford Subsidized Loans - Federal government pays the interest on the loan while you are in school. Available to students who demonstrate financial need. Federal government is the lender.
  • Direct Stafford Unsubsidized Loans - You are responsible for paying the interest on the loan during all periods, even while you are enrolled in school. Available to students, regardless of financial need. Federal government is the lender.
  • PLUS Loans - Available to parents of undergraduate students if financial need is demonstrated after completion of the FAFSA. Must pay interest and loan origination fees. Federal government is the lender.
  • Perkins Loans - Available to students who demonstrate financial need. Not all schools participate, as the school is the lender instead of the federal government. You are responsible for paying interest.


Private loans

Available through various lenders such as banks or non-profits.Click here for more information from fastweb.com.

Forgivable Loans

Forgivable Education Loans for Service (FELS, New 2012-13). This is available to residents of NC with at least a 3.0 weighted GPA who are enrolled in an approved program and with a commitment to work in NC in critical employment shortage professions.

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