Please note second degree, paralegal, & post-bac students will be awarded at the undergraduate level as a fifth year.
The Federal Direct Loan program offers fixed, low-interest rate loans to students without the need for a credit application or cosigner. These loans are issued directly from the federal government to the school and have fixed disbursement amounts. Students who complete the Free Application for Federal Student Aid (FAFSA) are eligible to receive Federal Direct Loans and will receive notification of their maximum eligibility in their financial assistance Statement of Award.
The Federal Unsubsidized Loan is awarded regardless of a student’s demonstrated need. Interest begins accruing from the date of first disbursement. The student must begin repayment of the loan six months after leaving the school or dropping below half time. All graduate students will be eligible to receive up to $20,500 per academic year. The maximum amount an independent student may borrow is $138,500 including Federal undergraduate loans.
- First-time borrowers or new students must complete Entrance Counseling and the Master Promissory Note (MPN).
- All borrowers must complete the Annual Student Loan Acknowledgment
- If this is your first time accepting a federal student loan, you are acknowledging that you understand your responsibility to repay your loan.
- If you have existing federal student loans, you are acknowledging that you understand how much you owe and how much more you can borrow.
- Go to https://studentaid.gov/h/complete-aid-process, sign in using the FSA ID or email address and FSA password.
Federal Graduate PLUS Loan
In order to receive a Graduate PLUS Loan for the academic year, students must first apply for and accept all Federal Direct loans available. If a student requires more funding than the $20,500 available through the Federal Direct loan, the additional funding may be applied for through the Graduate PLUS loan program by following the steps below:
- Complete the FAFSA and accept your Federal Direct Unsubsidized Loan if not already completed.
- Go to studentloans.gov, sign in using the FSA ID.
- Look under PLUS Loan Process and select Apply for PLUS Loan.
- Please only request the amount that you need.
- Upon approval, please also complete the PLUS Loan Master Promissory Note and the Annual Student Loan Acknowledgment.
This loan is not need based and does require applying for each year after completing the FAFSA and accepting the Federal Direct Unsubsidized Loan.
North Carolina Teaching Fellows Forgivable Loan
The North Carolina Teaching Fellows Forgivable Loan Program is open to post-baccalaureate applicants who are interested in teaching science, math, and special education. Applicants must apply by January 15, 2018. Go to ncteachingfellows.com for more information and to apply.
Private Alternative Loan
If your financial aid package does not cover your expense, you have the option of applying for a private alternative student loan. Before pursuing a private alternative student loan, students and parents should ALWAYS pursue Federal loans first or a tuition payment plan.