What types of loans are available?

In North Carolina, students are eligible for both federal and private student loans. Federal loans are typically available through the U.S. Department of Education (ED) and are comprised of two main types: Direct Subsidized Loans and Direct Unsubsidized Loans. Direct Subsidized Loans are available to students who demonstrate financial need. With this loan, the federal government pays the interest on the loan while the student is in college. Direct Unsubsidized Loans are available to students regardless of financial need and accrue interest while the student is in college. In addition to federal loans, private loans are available from banks, credit unions, and other financial institutions. Private student loans generally require a credit check, and interest rates and terms may vary. When selecting a student loan, it is important to consider your current and expected future financial situation and the loan’s interest rate, repayment terms, and repayment options. It’s also important to explore all available options and understand the associated costs and benefits of each loan type.

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What types of loans are available?

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