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Loans

Educational loans must be repaid, so consider your anticipated future annual income before you take out a loan. Estimate your monthly payments with the Loan Payment Calculator. Never borrow more than is needed to attend school.

To disclose borrower rights and responsibilities, the federal government requires the completion of entrance loan counseling before loan funding is disbursed. Exit counseling is also required when a student ceases attendance.

Review additional information about loan limits, interest rates and the application process on the US Department of Education website.

Federal Loans

  • Direct Subsidized Loans – Subsidized loan eligibility is based on financial need. Interest is not paid on subsidized loans until the borrower enters repayment. Repayment commences after the borrower is no longer enrolled at least half time.
  • Direct Unsubsidized Loans – Unsubsidized loans are available to students regardless of their financial need. Interest on unsubsidized loans will accrue if not paid while the borrower is enrolled. Repayment commences after the borrower is no longer enrolled at least half time.

Direct PLUS Loans for Parents of Dependent Students

  • NEW: Effective July 1, 2026, Parent PLUS Loans for new PLUS borrowers will be limited to $20,000 per academic year, per student, or the remaining cost of attendance after other financial aid has been applied, whichever amount is lower. The total amount a parent may borrow per student is capped at $65,000 overall. Parents of students who already received a federal loan for their current program before that date may still borrow under current guidelines for up to three additional academic years or until the student finishes their program, whichever comes first. Additional information about recent changes to federal student aid can be found on our Changes to Federal Student Financial Aid webpage.
  • Parents of a dependent undergraduate student may apply for a Federal Direct PLUS loan. Repayment commences 30 days after the loan is fully disbursed.
  • PLUS loan borrowers are required to pass a credit check. If a parent’s application for a PLUS loan is denied based on the borrower’s credit history, the dependent student may be eligible for an additional unsubsidized student loan.

Direct PLUS Loans for Graduate Students

  • NEW: Effective July 1, 2026 new students will no longer be eligible for Graduate PLUS Loans. Students who already received a federal loan for their current program before that date may still borrow under current guidelines for up to three additional academic years or until they finish their program, whichever comes first. Additional information about recent changes to federal student aid can be found on our Changes to Federal Student Financial Aid webpage.
  • Graduate and Professional students may apply to borrow a Graduate PLUS loan after Federal Direct Loan eligibility has been exhausted. Repayment commences after the borrower is no longer enrolled at least half time.
  • Graduate PLUS loan borrowers are required to pass a credit check.

Private-Alternative Loans

Federal loans are generally the best options and should be your first consideration. Laws passed by Congress set federal loan interest rates and fees, and define clear terms and conditions for these type of loans.

However, private loans, also known as alternative loans, provide another borrowing option. Although the FASFA is not required, private loans may have varying interest rates and limited repayment options. You should consider alternative loans as a “last resort” lending option.

An option that you can use to review and compare private lenders is available at go.ncsu.edu/privateloans.

The Office of Scholarships and Financial Aid has partnered with ELM Select to provide this loan comparison tool for our students. This list includes lenders from whom at least five NC State University students borrowed private loans during the past academic year. NC State University does not endorse any lender or their loan products for those appearing on this list. Students and families are encouraged to choose the loan option that best fits their individual needs. This list is provided as a resource to support that decision-making process. NC State University will certify private loans from any lender you select, even if the lender is not included on this list.

The lender you choose will provide you with current interest rates, processing fees, and co-signer requirements. The lender based on the student and cosigner’s credit worthiness determines interest rates for loans.

Short-Term Loans

Short-term loans are available to assist students who need small amounts of funding for emergency expenses. The maximum available loan is $500.