NC Parent Assist Loan

The NC Parent Assist Loan is an education loan that helps bridge the gap between the cost of college attendance and other financial aid. The parent loan is available to parents who are North Carolina residents of students attending any eligible in-state or out-of-state school, or out-of-state parents of students who are attending an eligible North Carolina school. Learn more about how to help cover your child's college costs.

  • No Fees
  • Interest Rate Information
  • Borrowing Limits
  • Payment
  • Loan Terms
  • Disbursement
  • Parent Borrower Requirements
  • Information Needed To Apply

No Fees

The NC Parent Assist Loan has no application, origination, or prepayment fees!

Interest Rate Information

The NC Parent Assist Loan has a 4.75% fixed interest rate. The loan may be eligible for a .25% reduction if, during the repayment period, payments are made by automatic draft. The automatic draft benefit will be cancelled in the event a total of 3 automatic drafts are rejected for insufficient funds.

Always review rates and other loan terms to determine the right loan for you. Compare to Federal Rates

Borrowing Limits

You may borrow up to your school's cost of attendance minus other financial aid you receive.

The aggregate loan limit for the NC Parent Assist Loan is $120,000.

The minimum loan amount is $1,000.


There is a minimum monthly payment of $50.00 for the NC Parent Assist Loan. Repayment begins after the final disbursement of the loan.

Loan Terms

The repayment period:

  • Accrued, unpaid interest will be capitalized (added to your outstanding principal balance) when the money is disbursed.
  • 10-year standard maximum repayment period.
  • $50 minimum monthly payment.
  • No penalty for prepayment.
  • First payment due the first 10th of the month 45 days after loan is fully disbursed.


Funds are disbursed directly to the school your student is attending.

Parent Borrower Requirements

The parent borrower of an NC Parent Assist Loan must:

  • Be the biological parent, adoptive parent, or step-parent of an eligible benefiting student.
  • Be a U.S. citizen or eligible non-citizen.
  • Be a North Carolina resident or have a benefiting student attending an eligible North Carolina school.
  • Have a benefiting student who meets all of the requirements listed for a student borrower except the credit score requirement.
  • Be credit-worthy and have the required credit score.
  • Be in good standing on any other CFI loan(s).

Information Needed To Apply

In order to make the application process smoother, please have the following information available:

  • Parent and Benefiting Student Dates of Birth.
  • School the student will be attending.
  • Student's program of study.
  • Name, address, phone number, and email address (Parent and Student).
  • Parent and Benefiting Student Social Security Numbers.
  • Driver's License Number.
  • Loan Period (MM/YYYY to MM/YYYY).
  • Cost of Attendance.
  • Other Financial Aid.
  • Requested Loan Amount.
  • If employed, your employer's information.