Save Money on Your Stafford Loan

The NC Advantage

You can reduce your Stafford Loan interest rate by 2.5%! On $15,000 in loans, that can save you up to $1,900 when you borrow from College Foundation instead of other lenders.

College Foundation, Inc., a nonprofit corporation, and the North Carolina State Education Assistance Authority, an agency of the state, are committed to helping you keep the cost of borrowing for college as low as possible.

[Stafford Loans]
[Details About the Stafford Loan]
[Choosing a Stafford Loan Lender]

• No origination fee
  
• Waiver of 1% Federal default fee
  
• Immediate 1% reduction of your interest rate for on-time payments once repayment begins*
  
• 1.5% interest rate reduction for making payments by automatic draft and selecting electronic payments**
  

*The on-time benefit starts immediately at repayment and allows you a full year to get on track. The automatic on-time benefit will be cancelled retroactively for any Stafford or PLUS Loan borrower who reaches 210 days past due during the first year of repayment without making a payment or taking any other preventative action to avoid default. A PLUS Loan borrower who reaches 210 days past due at any time during repayment will also be held responsible for repayment of any credits previously applied under the NC Advantage.

**The automatic draft and electronic statement benefit for a Stafford or PLUS Loan borrower will be cancelled in the event a total of three automatic drafts are rejected for insufficient funds.

Determination of the amount and availability of benefits on new loans is generally made on an annual basis and may be subject to change at any time. Benefits on loans, once received by a borrower, remain in effect for the life of those loans as long as the borrower continues to meet the associated eligibility requirements, as permitted by law. If you have loans from College Foundation made prior to July 1, 2006, call us toll-free at 866-866-CFNC to review benefits in effect for your loans.