The federal government offers three different kinds of federal student loans for North Carolina students. The loans available are Parent PLUS loans, Stafford loans and private student loans. The first loan (Stafford loan) can be taken out under the student's name. This type of loan doesn't require credit checks or collateral. Parent PLUS loans are geared toward parents of undergraduate students. With a North Carolina college student loan, parents can borrow up to 100% of their son or daughter's tuition. Third, private student loans are unsecured loan, credit-based loans available to North Carolina students.
To be considered for student financial aid in North Carolina, you will need to submit a FAFSA (Free Application for Federal Student Aid). Once you submit the FAFSA, you will be considered for grants, work study programs, and federal student loans. The Department of Education determines the eligibility guidelines for North Carolina student loans. The federal government takes into consideration factors including assets, family expenses, income, and the number of family members when determing your financial need. Contact our friendly representatives to learn more.
Because North Carolina private student loans have higher interest levels than other types of loans, students should seriously consider more affordable student loan options. Other low-cost student loan options include Perkins student loans, Stafford loans, Parent PLUS loans and Grad PLUS loans. As a college student, it is wise to explore financial aid options in North Carolina that are affordable and will save you money. Call our representatives to learn more about student loans in North Carolina.
In this tough economy, many workers have experienced job loss and financial hardship in North Carolina. If you've lost your job, and have an education loan, many student loan programs include forbearance and deferment benefits, enabling you to postpone payments for a period of time defined by the lender. Although some lenders will let you defer your loan payments, others will not, and still others handle forbearance on an individual basis. Contact our representatives today to locate college loans in North Carolina that will meet your needs.
Before you apply for a private student loan, make sure you've taken advantage of all your federal financial aid and free-money options first. Because North Carolina private student loans are costlier than federal student loans, you want to make sure you've taken advantage of all of your low-cost federal education loan options first. A private student loan should typically be your last funding resort once you have exhausted other funding sources. Contact our representatives to learn more about student loans in North Carolina.