North Carolina Student Loans
Searching for the Best Loan Option
North Carolina students may be eligible for a couple of different loan programs offered by the state. College Foundation, Inc. is a loan servicing company that literally manages loan programs and accounts for North Carolina students.
College students in North Carolina are no different from others across the country; most must carry multiple student loans, including federal loans. However, state-funded loan programs offer student-borrowers a low-interest, long-term alternative to the next step: private loans.
College Foundation of North Carolina
The College Foundation of North Carolina makes student loans as easy for you to understand as is possible. Their website offers easy online applications, a place for you to setup affordable payment plans, tools that allow you to manage your account and even some nifty loan calculators so you know exactly how much money you owe.
EXTRA Loan
The North Carolina EXTRA Educational Loan is a flashy title given to a particular flavor of loan in the NC Family Education Loan Program. An EXTRA loan may cover whatever is remaining of a program cost or tuition once other aid is applied. EXTRA loans are at least $200. Students must be enrolled in a college or university in North Carolina and must be attending at least half time to qualify. This is a credit-based loan, meaning you must agree to a credit check as part of the application process. If you don’t qualify, you may be able to find a co-borrower. Co-borrowers may be a parent, guardian, or other relative or friend. Make sure you and your co-borrower understand the terms of the loan. Since a loan is a financial obligation, your co-borrower should be someone with whom you share mutual trust.
Carolina Computing Initiative (CCI)
Are you a student at UNC-Chapel Hill? If so, you may qualify for a student loan through CFNC that makes it more financially possible for you to wing paying for a lap-top or desk-top computer. Now that many students are making the move to laptop computers, a CCI loan may make it more financially palatable; less shock to the financial system, so to speak. Laptops are becoming increasingly popular and totally suit a college student’s lifestyle- mobile and hip. Computers must be bought through UNC-Chapel Hill bookstore. You can apply directly through NC College Foundation website. Borrowers must realize that once the loan is approved you will be required to make monthly payments.
Career-Specific Loans Help Keep Talent at Home
In recent years, more and more states are working harder to avoid losing their college graduates to other more attractive destinations. Certain professional fields are severely lacking everywhere and for this reason monetary incentives like career-specific student loans have become de rigueur. North Carolina needs a few good health professionals, educators and students pursuing careers in science or math. Health professionals and teachers are in constant demand, so this comes as no surprise. Professionals in math and science, according to recent statistics, are not plentiful enough in comparison to other parts of the world. The new world order demands new world professionals and NC wants to keep them put.
Eligible applicants for a career-specific loan may earn amounts equal to the cost of their tuition. The good part is, though, that those recipients, who agree to work in the state, may receive full loan waivers in return for their service. This means you don’t have to repay the loan.
Students enrolled in applicable Associates, Bachelors, Masters and Ph.D. programs may apply and be approved for between $2,000 and $8,500 for each academic year.
