NC Student Assist Loan

The NC Student Assist Loan is an education loan that helps bridge the gap between the cost of attendance and other financial aid. The loan is available to students who are North Carolina residents and students who reside outside of North Carolina but are attending an eligible non-profit Title IV institution in North Carolina. Find out how to cover your college costs.

Watch the following video for important information about the NC Student Assist Loan.

The North Carolina Assist Loan is a loan program for North Carolina students and their families. This loan is an alternative loan. It is not a federal education loan. North Carolina Student Assist Loan terms and conditions are different than terms and conditions for a Federal Direct loan. If you're considering a student loan, it's important to borrow only what you need. Borrowing a loan is a serious obligation. Use the loan estimator at to determine the right loan amount for you. This is a fixed rate loan. The interest rate will remain the same for the life of your loan. There are no origination fees, application fees, or guarantee fees on this loan. Currently, there are no late fees or fees when a payment is rejected due to insufficient funds. The North Carolina Student Assist Loan must be repaid. If you have a cosigner, he or she will be obligated to repay your loan if you fail to do so. This loan will be forgiven if you become permanently disabled or die. Interest will begin to accrue on this loan from the date funds are dispersed. Interest on the loan may be capitalized. That's why it is to your benefit to make some payments even when you're not required to do so. For example, you can save money if you make payments while in school, even if it's just the accrued interest. Repayment begins six months after you leave school or drop below half-time student status at an eligible institution. The standard repayment term is 120 months, and the minimum monthly payment is $50. Your repayment period may be reduced based on the amount you borrow and the minimum monthly payment. There is no penalty for prepaying your loan in part or in full. There is a .25% reduction in the interest rate if you make our payments via recurring auto drafts from your bank or credit union account. You'll be able to view details about your loan online at Our online financial wellness program will give you the tools you need to make smart financial decisions. We will send you an email about enrolling in the program after your loan is approved.
  • No Fees
  • Interest Rate Information
  • Borrowing Limits
  • Access to Financial Education Resources
  • Loan Terms
  • Disbursement
  • Student Borrower Requirements
  • Co-signer Requirements
  • Information Needed to Apply

No Fees

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

Interest Rate Information

The NC Student Assist Loan has a 5.50% fixed interest rate. The loan may be eligible for a .25% rate 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 consecutive 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 Student Assist Loan is $120,000 for undergraduate students and $200,000 for graduate students.

The minimum loan amount is $1,000.

Access to Financial Education Resources

NC Student Assist Loan borrowers have access to a robust, on-line library of financial education resources which provides information about money management, budgeting, and even transitioning from school to work.

Loan Terms

Grace period: Payments are not required until 6 months after you graduate or cease to be enrolled at least halftime.

You have the option to pay the interest that accrues while you are enrolled and during the grace period. If you choose not to pay, the accrued, unpaid interest will be capitalized (added to your outstanding principal balance) when the repayment period begins.

The repayment period:

  • 10-year standard maximum repayment period.
  • $50.00 minimum monthly payment.
  • No penalty for prepayment.


Funds will be disbursed directly to the school you are attending.

Student Borrower Requirements

The student borrower of an NC Student Assist Loan must:

  • Be at least 17.
  • Be enrolled (or accepted for enrollment) at least halftime at an eligible non-profit Title IV institution in a degree-seeking program.
  • Be a North Carolina resident or attending a North Carolina school.
  • Be credit-worthy and have the required credit score, or have a co-signer who meets the credit requirements.
  • Be a U.S. citizen or eligible non-citizen.
  • Meet other federal student eligibility requirements as certified by the student's school.
  • Be in good standing on any other CFI loan(s).

Co-signer Requirements

Students with little or no credit will be required to obtain a qualified co-signer to continue with the application process. You will be notified during the application process if a co-signer is required to continue.

To co-sign a loan for a student, you must meet the following criteria:

  • Be at least 21 years of age.
  • Be a spouse or relative of the student.
  • Be a U.S. citizen.
  • Be credit-worthy and have the required credit score.

Information Needed To Apply

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

  • School you will be attending.
  • Your program of study.
  • Your name, address, phone number and email address.
  • Your Social Security Number.
  • Your Driver's License Number.
  • Loan Period (MM/YYYY to MM/YYYY).
  • Cost of Attendance.
  • Other Financial Aid.
  • Requested Loan Amount.
  • Co-signer name and email address (if applicable).