Your financial aid package may include low-interest loans offered by the federal government. Typically, you won’t have to begin repaying these loans until after graduation (unless you withdraw from school). When you apply for financial aid, you’ll automatically be considered for one of these loans.

Low-interest loans for students demonstrating exceptional financial need
Interest rate: Fixed at 5 percent
Deadline: Due to limited funds, apply by March 31 for top priority

Using the Direct Loan Program, students borrow directly from the federal government. If you are awarded a Stafford student loan as part of your financial aid package, there are two requirements that all students must complete prior to the first disbursement of the loan; a Master Promissory Note and Entrance Counseling. These requirements can be completed by navigating to one of the following sites.

Loans for students with financial need
Interest rate: 6.8 percent fixed
Deadline: None
Requirements: Master Promissory Note - https://dlenote.ed.gov/empn/index.jsp
Entrance Counseling - http://www.dl.ed.gov/
*Direct Loan PLUS loan borrowers are only required to complete a Master Promissory Note to receive that loan and can complete it at the following link: https://dlenote.ed.gov/empn/index.jsp 

Direct Unsubsidized Loans (Federal Direct Unsubsidized Stafford/Ford Loans) 

Loans for students not based on financial need
Interest rate: 6.8 percent fixed
Deadline: None
Requirements: Master Promissory Note - Your lender will contact you regarding completion of your master promissory note
Entrance Counseling - http://www.dl.ed.gov
*Federal Family Education Loan (FFEL) PLUS loan borrowers are only required to complete a Master Promissory Note to receive that loan. You will be contacted by your chosen lender with specific instructions on how to complete it.

Federal Direct PLUS Loans

Loans for parents of dependent students not based on financial need. The maximum amount a parent may borrow cannot exceed the student’s budget minus any awarded financial aid.
Interest rate: 7.9 percent fixed
Deadline: None
Requirements: Master Promissory Note - Mailed to the student and can be returned to the OneStop Counter. All required documentation must be completed by August 15th.
Entrance Counseling - http://www.mappingyourfuture.org/
Go to the left side of page: Choose "Complete Online Student Loan Counseling" link.
Go to the left side of page: Related Links: Choose the "Perkins Entrance" link.
The next page you will be asked to choose your state (North Carolina) - click continue.
Then you will be asked to choose your school - Western Carolina University - Cullowhee, NC - click continue.
Read the information and then answer the multiple choice questions.

Some students choose to supplement federal loans with loans from private lenders. We recommend that you choose a lender from this list of alternative private lenders.