RALEIGH, N.C. -- There’s no question that an increasing number of students are coming out of college with increasing debt. 

According to US News & World Report, the average in state tuition and fees now costs around $11,000. And private institution costs are dramatically higher.

Even with scholarships and financial aid, there’s still a major gap for many families. But there is a free resource that is now working to help.

Sarita Broadway of the College Foundation of North Carolina says their new NC Assist Loan Program helps provide families with affordable options without massive fees or penalties prior to payment.

She says starting this fall academic year, Federal Direct PLUS Loans can carry interest rates of 7.6 percent with additional other charges.  But CFNC says their new program instead offers the following: 

NC Parent Assist Loan:

• 5.5% fixed interest rate, 0.25% rate reduction for auto-draft payments
• No extra fees (origination, prepayment or application)
• Must meet credit requirements

NC Student Assist Loan:

• 6.5% fixed interest rate. 0.25% rate reduction for auto-draft payments
• No extra fees (origination, prepayment or application)
• Must meet credit requirements

For more information, and to apply, visit their website.  For questions, call CFNC at 866-886-CFNC (2362).