Loans

The Financial Aid Office awards funds through the Federal Direct Loan Program to Graduate Students. This is a loan and must be repaid with interest.

Federal Direct Stafford Loans are low-interest loans for students to help pay for the cost of a student's college education. The lender is the U.S. Department of Education. There are two types of loans: Subsidized and Unsubsidized.

Subsidized Stafford Loan is a need based loan. The Federal Government pays the interest while enrolled in school. The Financial Aid Office will determine if the student is eligible for this loan based on information reported on the FAFSA.

Unsubsidized Stafford Loan is a non-need based loan. The student is responsible for paying the interest while enrolled in school. The Financial Aid Office will determine if you are eligible for this loan based on information reported on the FAFSA.

A student may be awarded either loan or a combination of each loan for the academic year. The Financial Aid office will advise the student on the maximum loan eligibility for the academic year.

Students are notified of the amount of aid received through the award notification. The award notification indicates the gross amount of the loan for the fall and spring semester and/or summer sessions. The student’s account and bill indicate the actual amount received.  For more information on the terms and conditions of federal loan programs, students are advised to consult the Financial Aid office and their website at http://www.ncat.edu/admissions/financial-aid/aid/loans/sub-vs-unsub.html.

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