The definitive place to start gathering information about state-sponsored financial aid in North Carolina is the North Carolina State Education Assistance Authority (NCSEAA), which is a valuable resource for any student who wants to attend college in that state. It offers information for borrowers and a handy guide to particular loan funds and programs North Carolina provides.
The state of North Carolina is known as a home to thousands of employers in the technology sector, where higher education is absolutely essential to the work force. Consequently, the state devotes extra attention to encouraging its students to move on to its colleges and universities.
The College Foundation of North Carolina (CFNC) is one of the most proactive state-sanctioned agencies for making federal and private student loans a reality for in-state students and parents. But if you're in the process of planning for college, CFNC offers a variety of products, services and information, including:
In general, there are three types of student loans available to you: federal student loan programs, state-funded student loans, and private loans through banks and other lenders, which are not affiliated with any government or educational entities.
You can learn much more about the federal student loan programs on this page.
The CFNC used to offer an affordable alternative student loan, called the Extra Education Loan. Unfortunately, CFNC has announced that changes in federal rules, combined with unfavorable credit markets due to the recession, caused the Extra Education Loan's suspension as of February 1, 2010. The good news is that CFNC plans to reinstate this loan program if improving conditions permit them to do so.
Managing student loan debt following graduation is one of the most challenging tasks for new North Carolina graduates. CFNC has collected some links that will help you manage repayments and explore your personal repayment options. You can make payments online through your CFNC account or find helpful information on topics like how to meet your payments, what happens if you're having trouble repaying a loan, and how to make sure your financial aid travels with you when you change schools.
A couple of repayment options to keep in mind include:
For more information on North Carolina’s student loan programs, visit the CFNC website.