Forgivable Education Loans for Service
|[Financial Aid Search]
|Established by the North Carolina General Assembly in 2011, the Forgivable Education Loans for Service provides financial assistance to qualified students enrolled in an approved education program and committed to working in critical employment shortage professions in North Carolina. For the 2017-18 academic year eligible degree programs may be found by clicking the link below. The North Carolina State Education Assistance Authority provides administration for the program.
|A recipient must meet the following eligibility criteria to be considered for FELS:
|Annual loan amounts are as follows:
Maximum Aggregate Loan Limits:
Note: For 2017-18, FELS recipients must be enrolled for at least six credit hours each semester to qualify for funding for undergraduate or graduate programs. The award amount will be pro-rated according to number of credit hours. While the rules for the program provide for a minimum of 3 credit hours for graduate programs, the policy for 2017-18 establishes a minimum of 6 credit hours per semester.
Starting in 2017-18 funding to attend an out-of-state institution will only be considered in the areas of chiropractic medicine, optometry and podiatry.
|Click here to complete the 2017-18 application, when available, or to
submit your email address to be notified when the application has opened. The priority deadline for applying
is March 1st. For bachelor's degree programs, priority is given to juniors and seniors who have been accepted
into the program (or who will be accepted by the start of the fall semester). Applications will be reviewed
on a first-come, first-served basis.
|FELS loan recipients must sign a promissory note that will require them to seek loan forgiveness through employment in an approved position or repay the loan in cash. Loan forgiveness is described in the FELS Rules. Generally, a loan for one academic year will be forgiven for one year of full-time employment. Loans will accrue interest at the rate of 8% per year from the date of the loan disbursement. Recipients cannot receive FELS funding concurrently with other state-funded loans.
Approved Education Programs
Our downloadable forms require Adobe Acrobat Reader. It's free and easy! Click the graphic above to download the reader from Adobe Acrobat's website.