Loans

Student loans can be a great resource in funding your education at UNC Pembroke. Find out about the types of student loans, eligibility, application steps and more to help you make informed choices for your financial future.

Borrowing Money For College

Paying for college doesn't have to be confusing. If you are curious about how student loans can help fund your education,  this video breaks down essential points about federal student loans including who is eligible.

Discover the essentials of student loan borrowing in just a minute! 

 

Three Steps for Applying for Federal Student Loans

Follow the following steps to apply for a Federal Direct Loan. To qualify for this federal student loan, you must be enrolled at least half time at UNC Pembroke. 
FAFSA

Apply For the Free Application for Federal Student Aid (FAFSA)

Complete the FAFSA to determine how much financial aid you qualify for, including loans, grants and work-study options.

Loan Counseling

Attend Loan Entrance Counseling

To receive your loan, complete the Loan Entrance Counseling session in one sitting, as progress cannot be saved. Once finished, a record will be sent to UNC Pembroke, enabling you to access your loan funds.
Promissory Note

Complete Loan Master Promissory Note (MPN)

The MPN is a legal agreement in which you commit to repay your loans and any accumulated interest and fees to the U.S. Department of Education. The MPN outlines the terms of your loans, and you may be eligible for multiple loans under a single MPN for up to 10 years. 

Federal Direct Subsidized and Unsubsidized Loans

Cap and Money

Subsidized Loans

Subsidized loans are offered to students with greater financial need, and the government covers the interest while you’re in school. You won’t start accruing interest until six months after graduation, giving you more time to prepare for repayment.
Loan Application Form

Unsubsidized Loans

Unsubsidized loans are available to students regardless of financial need, with interest starting as soon as funds are disbursed. While these loans don’t include interest subsidies, they provide an important resource for students needing additional financial support.

Two Kinds of PLUS Loans

Note: Before looking into PLUS loans, make sure you take advantage of the federal direct loans first. If you would like more information on the Parent PLUS or Graduate PLUS loans, check out our informational videos.
UNCP Family

Federal Direct Parent PLUS Loan

Parent PLUS loans allow parents of dependent undergraduate students to help fund their child’s education by covering costs beyond other financial aid. The loan features flexible repayment options, making it a practical way for families to invest in their student’s education. To learn more about this loan, check out this video.
Spring commencement undergrad

Federal Direct Graduate PLUS Loan

The Grad PLUS loan is designed for graduate and professional students who need extra financial assistance beyond federal student aid. With terms similar to Parent PLUS, this loan covers additional expenses, helping you achieve your advanced degree goals. To learn more, check out this video. 

Campus water shot

Explore Your
Private Loan Options

If you’re considering private or alternative loans to help cover your education costs, ELM Select can guide you through various lenders and loan services. This tool provides clear comparisons to find the best fit for your financial needs.

ELM Select

Do you have more questions about private loans, like what is an Applicant Self-Certification form and how do I receive my loan funds?

Visit our Alternative/Private Loan Information PDF.

Man giving out loan

Important Loan Resources

Need help understanding the different types of loans? Check out our external website and video resources. If you have any questions, please contact the Office of Financial Aid & Scholarships at 910.521.6255 or fa@uncp.edu.  

Have Questions?

If you have questions, reach out to the Office of Financial Aid & Scholarships at:

Lumbee Hall
PO Box 1510
Pembroke, NC 28372

Phone: 910.521.6255
Fax: 910.775.4159
Email: fa@uncp.edu

Business Hours:
8 a.m. - 5 p.m., Monday through Friday

Email Us
Financial Aid