A-B Tech InfoBase

We're here to help you find quick answers to common questions. Use the search box to look up key words or browse through the categories below.
Can't find what you're looking for? Click here to email us your question or call us at (828) 398-7900.


Forgivable Education Loans for Service (FELS)

Forgivable Education Loans for Service (FELS)

Summary

Explanation of the Forgivable Education Loan for Service (FELS)

Overview

The Forgivable Education Loan for Service (FELS) is for students who are committed to working in North Carolina in fields designated as critical employment shortage professions. It provides loan forgiveness as an incentive. 

Detailed information is available at cfnc.org/FELS. This site gives the eligibility requirements and application procedure.  A link at the bottom gives approved education programs. 

Eligibility

A student must meet the following requirements to be considered for the loan:

  • Be a legal NC resident and NC resident for tuition purposes
  • At the time of application, have a minimum cumulative GPA of 3.00 for graduating high school students, or 2.80 for undergraduate students pursuing an associate's or bachelor's degree
  • Not be in default, or owe a refund, on any federal or state loan or grant
  • Register with Selective Service, if required
  • Maintain Satisfactory Academic Progress
  • Be willing to work in NC in a designated critical employment shortage profession

Additional Information

  • Recipients must be enrolled for at least six credit hours each semester to qualify for funding.
  • The award amount will be adjusted according to the number of credit hours a student is enrolled in.
  • Recipients must sign a promissory note, which will require them to seek loan forgiveness through employment in an approved position or repay the loan in cash.
  • Generally, a loan for one academic year will be forgiven for one year of full-time employment.
  • Recipients cannot receive FELS funding concurrently with other state-funded loans.

 

Key Words: Forgivable Education Loan for Service, FELS, forgivable, loan, loans, forgiveness, forgive, serve, service, employment shortage

Attached Files
There are no attachments for this article.
Related Articles RSS Feed
Loan Servicer
Added on Wed, Jan 16, 2013
Divorce/Separation and Financial Aid
Added on Wed, Jan 16, 2013
RIBN Program and Financial Aid
Added on Wed, Jul 2, 2014
Pell Lifetime Eligibility Usage (PLEU)
Added on Tue, Oct 1, 2013
Minimesters and Financial Aid
Added on Fri, Oct 26, 2012
Financial Aid and Social Services
Added on Thu, Feb 28, 2013
Tuition Bills Sent to Financial Aid Students
Added on Fri, Feb 7, 2014
Deadline to Apply for Financial Aid
Added on Fri, Feb 7, 2014
FAFSA and How to Apply for Financial Aid
Added on Fri, Oct 19, 2012