As students and parents explore academic options, many also look to borrowing as a way to finance college costs. Borrowing is a common practice, and ensures you will have the tools necessary to earn a degree. Students and parents can borrow money from the federal government, state government or private lenders. These loans must be repaid. Borrowers are responsible for signing a Master Promissory Note for each loan program, which is a binding, legal document through which the borrower agrees to repay the loan. Borrowers are also responsible for signing an Annual Student Loan Acknowledgment each year to acknowledge their understanding of what has been borrowed and their responsibility to repay the loan.To be considered for any federal loans, students must fill out the Free Application for Federal Student Aid (FAFSA).

Loan Options

Federal Direct Student Loans » (undergraduate, second degree, paralegal, post-baccalaureate, graduate)

Federal Direct PLUS Loan » (parents of dependent students)

Federal Direct Graduate PLUS Loan » (graduate students)

North Carolina Teaching Fellows Forgivable Loan » (undergraduate and graduate students)

Private Alternative Loans » (all students)

Loan Repayment

Federal, alternative, or forgivable loans will go into repayment at a predetermined time after the original disbursement. Most loans borrowed require a monetary repayment while some may qualify for service repayment to forgive monetary repayment. To determine the terms and conditions of your loans please contact your loan servicer.

Federal Direct Loans (Student subsidized/unsubsidized, Parent, Grad)

• Exit Counseling 
• Repayment Estimator

TEACH Grant

• Exit Counseling

Forgivable Education Loan for Service (FELS)

• FELS Forgivenes OR FELS Cash Repayment

NC Teaching Fellows