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See How Our Rates Stack Up

When comparing student loans, it’s important to look at the total cost, including interest rates and fees. NC Assist is frequently the best option for those who qualify. See for yourself with these charts for all types of loans:

Undergraduate Student Loans | Graduate Student Loans | Parent Loans

Undergraduate Student Loan Comparisons

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Federal Direct Loans

Private Lenders

Interest Rate

6.95%

6.63%

Up to 15.49%

Loan Fees

$0

1.057%

Some

Know Your Rate Before Applying

No

Aggregate Max Borrowing Limit

$120,000

$31,000 for Dependent students, or
$57,500 for Independent students

Varies

Rate Reduction for Auto-draft

.25% discount

.25% discount

Usually a .25% discount

Non-profit Lender

No No

empty

Interest Rate

6.95%

Loan Fees

$0

Know Your Rate Before Applying

Aggregate Max Borrowing Limit

$120,000

Rate Reduction for Auto-draft

.25% discount

Non-profit Lender

Federal Direct Loans

empty

Interest Rate

6.63%

Loan Fees

1.057%

Know Your Rate Before Applying

Aggregate Max Borrowing Limit

$31,000 for Dependent students, or
$57,500 for Independent students

Rate Reduction for Auto-draft

.25% discount

Non-profit Lender No

Private Lenders

empty

Interest Rate

Up to 15.49%

Loan Fees

Some

Know Your Rate Before Applying No

Aggregate Max Borrowing Limit

Varies

Rate Reduction for Auto-draft

Usually a .25% discount

Non-profit Lender No

Undergraduate students should look first at Federal Direct loans. While Federal Direct loans do carry fees, they could be a good option for the initial piece of funding. However, they often don’t cover all of college costs. For those who need to borrow more than the Federal $12,500 annual limit, NC Assist is a great way to bridge the gap.

Graduate Student Loan Comparisons

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Federal Direct Unsubsidized

Federal Direct PLUS

Private Lenders

Interest Rate

6.95%

8.08%

9.08%

Up to 15.49%

Loan Fees

$0

1.057%

4.228%

Some

Know Your Rate Before Applying

No

Aggregate Max Borrowing Limit

$200,000

$138,500

No aggregate max limit

Varies

Rate Reduction for Auto-Draft

.25% discount

.25% discount

.25% discount

Usually a .25% discount

Non-Profit Lender

No

No

No

empty

Interest Rate

6.95%

Loan Fees

$0

Know Your Rate Before Applying

Aggregate Max Borrowing Limit

$200,000

Rate Reduction for Auto-Draft

.25% discount

Non-Profit Lender

Federal Direct Unsubsidized

empty

Interest Rate

8.08%

Loan Fees

1.057%

Know Your Rate Before Applying

Aggregate Max Borrowing Limit

$138,500

Rate Reduction for Auto-Draft

.25% discount

Non-Profit Lender

No

Federal Direct PLUS

empty

Interest Rate

9.08%

Loan Fees

4.228%

Know Your Rate Before Applying

Aggregate Max Borrowing Limit

No aggregate max limit

Rate Reduction for Auto-Draft

.25% discount

Non-Profit Lender

No

Private Lenders

empty

Interest Rate

Up to 15.49%

Loan Fees

Some

Know Your Rate Before Applying

No

Aggregate Max Borrowing Limit

Varies

Rate Reduction for Auto-Draft

Usually a .25% discount

Non-Profit Lender

No

Once you determine how much you need to borrow, a Federal Direct Unsubsidized loan may make sense for graduate students. However, loan fees may make the NC Student Assist loan the best option.

Parent Student Loan Comparisons

empty

Federal Direct PLUS

Private Lenders

Interest Rate

6.25%

9.08%

Up to 15.49%

Loan Fees

$0

4.228%

Some

Know Your Rate Before Applying

No

Aggregate Max Borrowing Limit

$120,000

No aggregate max limit

Varies

Rate Reduction for Auto-Draft .25% discount .25% discount Usually a .25% discount

Non-profit Lender

No

No

empty

Interest Rate

6.25%

Loan Fees

$0

Know Your Rate Before Applying

Aggregate Max Borrowing Limit

$120,000

Rate Reduction for Auto-Draft .25% discount

Non-profit Lender

Federal Direct PLUS

empty

Interest Rate

9.08%

Loan Fees

4.228%

Know Your Rate Before Applying

Aggregate Max Borrowing Limit

No aggregate max limit

Rate Reduction for Auto-Draft .25% discount

Non-profit Lender

No

Private Lenders

empty

Interest Rate

Up to 15.49%

Loan Fees

Some

Know Your Rate Before Applying

No

Aggregate Max Borrowing Limit

Varies

Rate Reduction for Auto-Draft Usually a .25% discount

Non-profit Lender

No

The NC Parent Assist Loan provides rates substantially lower than Federal Parent PLUS loans and many private lenders.

*All data is based on research from lender websites. Last updated 5/30/2024.

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Aggregate Max Borrowing Limit The maximum amount you can borrow minus other financial aid you receive.
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