NC Assist Can Help Bridge the Gap Between Financial Aid and College

NC Assist Loan is helping to close the gap on college expenses for North Carolina students and parents. It provides families an affordable option with competitive interest rates, no costly application or origination fees, and no pre-payment penalties. It is offered by College Foundation, Inc., a state-based nonprofit administering the program for the State Education Assistance Authority.

"We always encourage students and parents to explore all sources of financial aid before taking out a loan, but sometimes additional funds are needed to bridge the gap," said Wendy McAlister, President of College Foundation, Inc. "The NC Assist Loan is just one piece of the comprehensive suite of services we provide to help North Carolina students fulfill their dreams of higher education and a promising career. Families have enough to worry about as they prepare for college. We're here to help in any way we can."

The interest rates offered on NC Assist Loans are very competitive and College Foundation, Inc. does not charge any application or origination fees. For the upcoming academic year, Federal Direct PLUS Loans for parent or graduate student borrowers carry an interest rate of 7.08%, with a rate reduction of 0.25% for auto-draft payment, and charge an origination fee of 4.248%. In comparison, NC Assist Loans offer the following:

NC Parent Assist Loan
  • 5.25% fixed interest rate, with 0.25% rate reduction for auto-draft payments
  • No application, origination, or prepayment fees
  • Applicants must be credit-worthy and meet other requirements

NC Student Assist Loan
  • 5.75% fixed interest rate, with 0.25% rate reduction for auto-draft payments
  • No application, origination, or prepayment fees
  • Applicants must be credit-worthy or have a credit-worthy co-signer, and meet other requirements

College Foundation, Inc. is proud to offer the NC Assist Loan to benefit students living in North Carolina and attending schools within or outside the state, and to benefit out-of-state students attending North Carolina colleges and universities. Applicants who meet the eligibility requirements of the NC Student Assist Loan or NC Parent Assist Loan may borrow a minimum of $1,000 and up to the school's total cost of attendance minus other financial aid received. Both loan options offer students and parents a convenient direct payment to their desired educational institution. Additionally, the NC Assist Loan program streamlines the repayment process with a fixed interest rate, no pre-payment penalties, and local service from North Carolina's nonprofit higher education lender.

How to Apply
Visit www.NCAssist.org for more information and to apply for an NC Assist Loan. You may contact CFNC at (866) 886-CFNC (2362) with questions.