Loan Forgiveness

Teaching Fellows awards are forgivable loans.

Fellows may receive up to $4,125 per semester and funds may be used to cover the cost of tuition, fees, books, and expenses related to obtaining licensure.

Awards are renewable annually for Fellows who continue to meet eligibility requirements.

Fellows will be required to sign a promissory note agreeing to the terms of their forgivable loans.

Terms of Loan Forgiveness:

The loan principal and any accrued interest may be forgiven if, within 10 years after graduation from a program leading to teaching licensure, the Fellow serves as a teacher in a qualified position:

  • in a STEM (Science, Technology, Engineering or Mathematics) or special education licensure area as identified by the NC Superintendent of Public Instruction
  • at a North Carolina traditional or charter public school

One academic year’s loan will be forgiven for:

  • 1 year of employment at a NC public school identified as low-performing, or
  • 2 years of employment at a NC public school not identified as low-performing

Per G.S. 115C-105.37(a), a low-performing school is defined as receiving a school performance grade of D or F and earning a school growth score of “met expected growth” or “not met expected growth.”

Loans not forgiven through employment in a qualified position must be repaid in cash.

Cash Repayment

Loans not forgiven through employment in a qualified position must be repaid in cash.

Forgivable loans will carry an interest rate of 8%.  Interest will begin to accrue and cash repayment will be required in the form of monthly installments commencing no later than the 1st day of September after completion of, or 90 days after withdrawal from, the approved educator preparation program.

The cash repayment period is up to 10 years.

Loan forgiveness and cash repayment is administered by the State Education Assistance Authority (SEAA).  Please contact SEAA with questions regarding loan forgiveness and cash repayment at repay@ncseaa.edu.

Alumni Repayment Questions

Teaching Fellows Alumni with questions regarding loan forgiveness/repayment should contact SEAAA at repay@ncseaa.edu or 919-549-8614.