Inc. Students may apply by using the same need analysis forms as they use for other federal and state aid. This grant is funded by the State Legislature especially for private institutions and is limited to full-time students who are residents of North Carolina. Repayment begins nine months after graduation or after the student ceases to be enrolled on at least a half-time basis. The Federal Direct Stafford Loan is a low interest loan made to eligible students by the Department of Education. These loans are made for the purpose of helping a student meet educational expenses.
Interest is deferred on the principal of the loan during the student's enrollment period.
Repayment begins six months after graduation or after the student ceases to be enrolled on at least a half time basis. The borrower is responsible for paying the interest during in school deferment periods. However, the borrower may defer the interest while enrolled. The loan limits are the same as the Stafford Loan for dependent students. This loan provides additional funds for educational expenses.