North Carolina Student Loan Program for Health, Science, and Mathematics
(FELS – repealed but renewable)
The NC State Education Assistance Authority (NCSEAA) administers this program. The loan obligation may be forgiven through approved employment within the state of North Carolina provided the recipient works in the field for which he/she was funded. Associate Degree/Certificate Programs can receive $3,000 per year. Maximum loan amount is $6,000 for two years if unconditionally accepted into specific program discipline.
One calendar year of full-time employment in designated shortage areas is required for each school year a loan was received. Approved service areas include state facilities and educational systems, or designated healthcare and veterinary science disciplines. Should the student not complete the service obligation, cash repayment will be required. The in-school interest rate is 4%. The out-of-school interest rate ranges from 10% to 15%, depending upon the circumstances of repayment.
Eligibility: To be considered for a loan, you must: 1) be a citizen of the US and a legal resident of North Carolina, 2) have attained unconditional acceptance or promotion in your respective field, and 3) must establish financial need. Eligible fields of study are Physical Therapist Assistant, Radiography, Nuclear Medicine Technologist, and Nursing.
All new applications and supporting materials must be submitted to the NCSEAA no later than June 1 for the upcoming academic year. Renewal applications must be completed prior to April 1 of the given year.