To receive a federal student loan, you must:

• Have a valid FAFSA on file to be eligible for aid at UNC
• Be enrolled at least half-time
  • Undergraduate: 6 credits
  • Graduate: 5 credits
• Not be in default on a federal student loan
• Be within federal yearly and lifetime loan limits
• °ä´Ç³¾±è±ô±ð³Ù±ðÌýEntrance Counseling (first-time borrowers)
• Sign a Master Promissory Note (MPN)

Loans are:

• Split into two equal payments (fall and spring)
• Subject to fees, so the amount you receive may be less than what you accepted
• Typically applied to your account the Friday before classes begin, if all requirements are complete

After you borrow:

• Your loan is reported to the National Student Loan Data System (NSLDS), where you can view and track all your federal student loans in one place
• A loan servicer will be assigned to manage your loan and repayment
• You must complete exit counseling when you leave UNC or graduate
• Keep your servicer updated if your name or address changes

Helpful Tips:

• You don’t have to accept the full loan amount – only borrow what you need
• Dropping or not attending classes may impact your loan and could require repayment
• You must meet Satisfactory Academic Progress (SAP) to maintain your aid eligibility

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If this is your first time borrowing a federal student loan, you’ll need to complete entrance counseling. You may also need to complete it if you borrowed at another school.

The counseling is a short online session that explains how student loans work, like interest, repayment, and what you’re responsible for.

To complete it:

• Go to
• Log in with your FSA ID
• Select Entrance Counseling and follow the steps.

Once you’re done, UNC will be notified automatically.  Your loan may be ready in about 3 business days, as long as all other requirements are finished.

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If you accept a federal student loan, you’ll need to complete a Master Promissory Note (MPN).

The MPN is a legal agreement where you promise to repay your loan and any interest. It also explains the terms and conditions of your loan.

To complete it:

• Go to
• Log in with your FSA ID
• Select the Master Promissory Note (MPN) that matches your loan type:
  • Undergraduate (Subsidized/Unsubsidized Loans): For undergraduate students borrowing federal student loans
  • Graduate/Professional (Unsubsidized Loans): For graduate and professional students borrowing federal student loans
  • PLUS (Parent Loans): For parents borrowing a Parent PLUS loan

Once complete, UNC will be notified automatically. Your loan can be processed after this, and any other requirements are finished.

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If you need to change your loan after submitting your decision on your official aid offer, you can request a loan adjustment.

You may choose to:

• Accept or increase your loan amount
• Reduce your loan amount
• Cancel all or part of your loan

If you are requesting a change to a Parent PLUS loan, the parent borrower must complete the form.

Keep in mind:

• Borrow only what you need
• Changes may take a few days to process
• If your loan has already been applied to your account, reducing it may result in a balance due

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If you graduate, leave school, or drop below half-time, you’ll need to complete exit counseling.

This is a short online session that helps you understand your repayment options, monthly payments, and next steps after leaving school.

To complete it:

• Go to
• Log in with your FSA ID
• Select Exit Counseling and follow the steps.

Completing exit counseling helps you prepare for repayment and avoid missed payments.

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Federal student loans have fixed interest rates, meaning your rate will not change over time.

Your rate is set each year by the federal government and depends on the type of loan you borrow. Once your loan is disbursed, your interest rate stays the same for that loan (unless you combine loans through consolidation).

What to know:

• Interest is the cost of borrowing money
• Subsidized loans do not accrue interest while you’re in school at least half-time
• Unsubsidized and PLUS loans begin accruing interest right away

For current interest rates, visit:

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Federal Direct Stafford Loans are government loans that help you pay for school.

There are two types:

• Subsidized Loans
  Based on financial need. The government pays the interest while you’re in school at least half-time.
• Unsubsidized Loans
  Not based on financial need. Interest begins to add up right away.
  You can pay the interest while in school or let it build up and pay it later.

Graduate students are only eligible for unsubsidized loans.

Repayment and Grace Period

• Payments begin 6 months after you graduate, leave school, or drop below half-time

What to Know

• You can choose to borrow less than the amount offered
• Loans have fees, so your disbursement may be slightly less than what you accept
• Interest rates are set each year—see
• You can pay your loan early anytime without penalty

Before You Receive Your Loan

• Complete (first-time borrowers)
• Complete a at studentaid.gov
• Your MPN can be used for up to 10 years as long as you keep borrowing

Learn more about your loan rights and responsibilities.

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Federal Direct PLUS Loans are available to parents of dependent students to help cover education costs.

To be considered:

• The student must have a FAFSA on file
• The parent must apply and pass a credit check

Starting July 1, 2026, Parent PLUS Loans are limited to the student’s cost of attendance minus other aid, up to:

• $20,000 per year
• $65,000 total (lifetime limit)

You are not required to borrow the full amount and can choose a lower amount.

Credit Check

• The U.S. Department of Education reviews the parent’s credit history
• If denied, the parent may still qualify by appealing or using an endorser
• If a parent is denied, the student may be offered additional unsubsidized loan funds

Repayment

• Repayment typically begins about 60 days after the loan is fully disbursed
• Since loans are split between fall and spring, this often means payments begin during the spring semester
• Parents may request to delay (defer) payments while the student is in school
• Interest begins to add up once the loan is disbursed

What to Know

• PLUS Loans have set each year
• Loans have fees, so the amount received may be less than the amount borrowed
• The parent borrower is responsible for repayment

Before Funds Are Sent

• The parent must complete a PLUS Loan application and credit check at
• The parent must sign a Master Promissory Note (MPN)
  • If completed within the last 10 years, a new MPN may not be required

When Should I Consider a PLUS Loan?

• After reviewing grants, scholarships, and student loans
• If you still have remaining costs to cover
• If you have a plan for repayment
• Plan ahead: Federal limits apply over time. For example, borrowing $20,000 each year for 4 years would total $80,000, but the lifetime limit is $65,000, so you may need to borrow less each year

Federal Direct PLUS Loan in PDF format.

Learn more about your loan rights and responsibilities.

Loan Borrower Rights and Responsibilities

Graduate PLUS Loans are federal loans that were available to graduate students to help cover education costs not met by other aid.

Important Update (Starting July 1, 2026)
Graduate PLUS Loans are no longer available for new borrowers.

You may still be eligible if you:

• Borrowed a Grad PLUS Loan before July 1, 2026
• Remain in the same program
• Have not reached the length of your program

This means:

• If you are in a 2-year program and have already borrowed for 2 years, you are no longer eligible
• If you are in a 2-year program and have completed 1 year, you may have 1 year of eligibility remaining
• Eligibility is limited to your program length or up to three academic years (whichever comes first)

If You Are a Continuing (Legacy) Borrower

You may be able to continue borrowing a Grad PLUS Loan:

• Up to your cost of attendance minus other financial aid
• With a required credit check

Repayment

• Begins about 60 days after the loan is fully disbursed
• Interest begins to add up once the loan is disbursed

Before Funds Are Sent

• Complete a PLUS Loan application and credit check
• Sign a Master Promissory Note (MPN) if one is not already on file

What This Means for You

• Graduate students should plan to rely on unsubsidized federal loans (up to $20,500 per year)
• Additional funding options may be limited, so plan ahead for remaining costs

Undergraduate Students (Annual Limits)

• First Year (Freshman): up to $5,500
  • Up to $3,500 may be subsidized
• Second Year (Sophomore): up to $6,500
  • Up to $4,500 may be subsidized
• Third & Fourth Year (Junior/Senior): up to $7,500 per year
  • Up to $5,500 may be subsidized

Additional Unsubsidized Loan (if eligible)

• Independent students (or dependent students with a denied Parent PLUS):
  • First & Second Year: up to $4,000 more
  • Third & Fourth Year: up to $5,000 more

Graduate Students

• Up to $20,500 per year (unsubsidized only)

Starting July 1, 2026, your annual loan amount may be reduced if you are enrolled less than full-time.

Lifetime (Aggregate) Limits

• Dependent undergraduate: up to $31,000
• Independent undergraduate: up to $57,500
• Graduate (including undergraduate loans): up to $138,500
  • Starting July 1, 2026, graduate lifetime (aggregate) limit: $100,000

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Private student loans are offered by banks or lenders and are not part of the federal student loan program.

These loans should be used as a last option after you have reviewed all other types of financial aid.

Before you apply:

• Complete the FAFSA to see if you qualify for federal loans, grants, or work-study
• Federal loans often have better rates and repayment options than private loans

What to expect:

• Most private loans require a co-signer
• Interest rates and terms vary by lender
• Approval is based on credit and lender requirements

How it works at UNC:

• UNC will certify your loan if you meet the lender’s requirements (like enrollment and academic progress)
• Private loans are counted as part of your financial aid and may affect other aid you receive

Important to know:

• UNC does not recommend specific lenders
• You can choose any lender that works best for you
• Be sure to compare options carefully before borrowing

If you have additional education expenses, you can contact the Office of Financial Aid to review your options, including a possible cost of attendance adjustment.

Resources:

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The federal government offers a variety of repayment plans to help you manage your student loan payments.

You can choose a plan based on your income and budget.

You may also choose to consolidate your loans, which means combining multiple loans into one. This can:

• Simplify your payments
• Lower your monthly payment

You can consolidate your loans during your grace period or while in repayment.

Before you decide, be sure to review the benefits and any trade-offs, as consolidation may change some loan features.

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In some cases, you may be able to have part or all of your federal student loans forgiven, canceled, or discharged.

Forgiveness depends on things like your job, repayment plan, or personal situation.

Common Forgiveness Options

• Public Service Loan Forgiveness (PSLF)
  If you work full-time for a government or nonprofit organization, you may qualify to have your remaining loan balance forgiven after 120 qualifying payments (about 10 years)
• Income-Driven Repayment (IDR) Forgiveness
  If you are on an income-based repayment plan, any remaining balance may be forgiven after 20–25 years of payments
• Teacher Loan Forgiveness
  Teachers working in certain low-income schools may qualify for up to $17,500 in loan forgiveness
• Discharge Options
  You may qualify to have your loans canceled due to certain situations, such as:
  • School closure
  • Disability

What to Know

• These programs are only available for federal student loans
• You must meet specific requirements to qualify
• Forgiveness is not automatic—you must apply

Learn More
Visit to explore forgiveness options and see if you qualify.