How to Pay for UNC Chapel Hill: Aid and Student Loan Options

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	2.84% to 10.97% APR1	Visit Lender
	2.75% to 10.22% APR2	Visit Lender
	2.95% to 11.62% APR3	Visit Lender

¹Important Disclosures for College Ave.

College Ave Disclosures

College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.

(1)All rates shown include the auto-pay discount.  The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.

(2)This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.

(3)As certified by your school and less any other financial aid you might receive. Minimum $1,000.

Information advertised valid as of 11/4/2019. Variable interest rates may increase after consummation.

²Sallie Mae Disclaimer: Click here for important information. Terms, conditions and limitations apply.

³Important Disclosures for Discover.

Discover Disclosures

1. Students who get at least a 3.0 GPA (or equivalent) qualify for a one-time cash reward on each new Discover undergraduate and graduate student loan. Reward redemption period is limited. Please visit DiscoverStudentLoans.com/Reward for any applicable reward terms and conditions.
2. View Auto Reward Debit Reward Terms and Conditions at DiscoverStudentLoans.com/AutoDebitReward.
3. Aggregate loan limits apply.
4. Lowest rates shown are for the undergraduate loan and include an interest-only repayment discount and a 0.25% interest rate reduction while enrolled in automatic payments. The interest rate ranges represent the lowest interest rate offered on the Discover Undergraduate Loan and highest interest rates offered on Discover student loans, including Undergraduate, Graduate, Health Professions, Law and MBA Loans. The fixed interest rate is set at the time of application and does not change during the life of the loan. The variable interest rate is calculated based on the 3-Month LIBOR index plus the applicable Margin percentage. The margin is based on your credit evaluation at the time of application and does not change. For variable interest rate loans, the 3-Month LIBOR is 2.250%% as of October 1, 2019. Discover Student Loans will adjust the rate quarterly on each January 1, April 1, July 1 and October 1 (the “interest rate change date”), based on the 3-Month LIBOR Index, published in the Money Rates section of the Wall Street Journal 15 days prior to the interest rate change date, rounded up to the nearest one-eighth of one percent (0.125% or 0.00125). This may cause the monthly payments to increase, the number of payments to increase or both. Please visit discover.com/student-loans/interest-rates for more information about interest rates.

Discover's lowest variable rates shown are for the undergraduate loan and include an interest-only repayment discount and a 0.25% interest rate reduction while enrolled in automatic payments.

• Variable APR

Learn more about private student loan lenders.

The University of North Carolina at Chapel Hill, also known as UNC Chapel Hill, is a prestigious school with a lengthy history. Founded in 1789, it was among the first public universities in the nation. It’s long since gained a reputation for its rigorous academic program. In fact, U.S. News ranked UNC Chapel Hill as one of the top 10 schools for its value.

If you dream of becoming a Tar Heel, be prepared for a large tuition bill. As of 2018, the total cost of full-time attendance at UNC Chapel Hill for a North Carolina resident is $23,734. However, for out-of-state students, the price increases to a staggering $50,634.

Although the cost of attendance at UNC Chapel Hill is high, you might not have to foot the bill in its entirety. Here’s everything you need to know about how to pay for UNC Chapel Hill.

How to pay for UNC Chapel Hill

There are a number of financial aid options available to you, including scholarships, grants, payment plans, and student loans.

1. Scholarships

As an incoming student, you might be eligible for one of UNC Chapel Hill’s scholarships. The school offers awards based on financial need, academic merit, athletic performance, and community or military service.

• James M. Johnston Awards: A series of need-based scholarships, the James M. Johnston Awards are given to incoming students who also demonstrate leadership skills and academic ability.

• Old Well and Founders Scholarship: Students from North Carolina with outstanding grades can receive $3,000 or more through the Old Well and Founders Scholarship.

• College Fellows Scholarship: High-achieving students from North Carolina can receive up to $2,500.

• MacDonald Community Service Scholarship: Students with a record of community service can receive a renewable award of $5,000.

• Athletic scholarships: Student-athletes might be eligible for scholarships based on athletic excellence. However, students must apply through UNC Chapel Hill’s athletics department, rather than the financial aid office.

• Military scholarships: Military service-related scholarships are available to Air Force ROTC and Army ROTC participants.

2. Grants

If you’re struggling with how to pay for UNC Chapel Hill, the school offers several grants to undergraduate students with a demonstrated financial need.

There’s no separate process to applying for a grant. The school will automatically consider you for a grant when reviewing your Free Application for Federal Student Aid (FAFSA) and CSS Profile.

3. Payment plan

Rather than having to come up with the entire tuition bill at once, UNC Chapel Hill offers several payment plans. The school offers three plans:

• Five-month plan: To pay for one semester, you can spread your payments out over the course of five months.

• Ten-month plan: To cover both the fall and spring semesters, you can pay your bill over 10 months.

• Twelve-month plan: You can spread your payments even further to reduce how much you owe each month. This plan allows you to pay your bill over the course of 12 months.

4. Tuition Guarantee Program

As of 2016, North Carolina residents who enroll in an undergraduate program within the University of North Carolina school system are eligible for a guaranteed tuition rate.

That means that the tuition you pay for your first semester as a freshman will be the same price of your last semester as a senior. The Tuition Guarantee Program protects you from price hikes while in school.

5. Federal student loans

After grants and scholarships, your next source for financing your education should be federal student loans. Federal loans tend to have lower interest rates, more generous repayment terms, and other benefits than other forms of aid.

For example, you might qualify for an alternative repayment plan after you graduate where you can get a lower minimum payment. Also, you might qualify for loan forgiveness in certain circumstances, such as if you choose to work in public service.

To ensure you get access to all of the federal financial aid you deserve, make sure you complete the FAFSA.

6. Private student loans

Although federal loans are usually the most cost-effective option when it comes to student loans, it’s possible to exhaust your federal options. Most federal loans have a cap on how much you can borrow. If your education costs exceed that maximum, you’ll have to find another way to pay for school.

Private student loans can be an essential tool that fills the gap and allows you to complete your education. When shopping around for a private student loan, compare offers from multiple lenders to ensure you get the lowest interest rate and best repayment terms.

Paying for college

If you have your heart set on attending UNC Chapel Hill, don’t let its price tag scare you away. There are many options available to make it more affordable. When you’re figuring out how to pay for UNC Chapel Hill, make sure you explore all of your scholarship, grant, and loan opportunities to minimize your costs.

Not sure where to find scholarships? This all-inclusive guide for high school seniors can help you navigate through the process.

Need a student loan?

Check out our top picks below or learn more about other ways to pay for college.

Advertiser Disclosure

Student Loan Hero Advertiser Disclosure

Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print to help you understand what you are buying. Be sure to consult with a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time.

Advertiser Disclosure

Student Loan Hero Advertiser Disclosure

Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print to help you understand what you are buying. Be sure to consult with a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time.

Lender	Variable APR	Degrees That Qualify	More Info
	2.84% – 10.97%1	Undergraduate Graduate	Visit College Ave
	2.75% – 10.22%2	Undergraduate Graduate	Visit SallieMae
	2.95% – 11.62%3	Undergraduate Graduate	Visit Discover
	3.52% – 9.50%4	Undergraduate Graduate	Visit CommonBond
	2.80% – 11.06%5	Undergraduate Graduate	VISIT CITIZENS
Learn more about private student loan lenders. Learn more about private student loan lenders.

¹Important Disclosures for College Ave.

College Ave Disclosures

College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.

(1)All rates shown include the auto-pay discount.  The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.

(2)This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.

(3)As certified by your school and less any other financial aid you might receive. Minimum $1,000.

Information advertised valid as of 11/4/2019. Variable interest rates may increase after consummation.

²Sallie Mae Disclaimer: Click here for important information. Terms, conditions and limitations apply.

³Important Disclosures for Discover.

Discover Disclosures

1. Students who get at least a 3.0 GPA (or equivalent) qualify for a one-time cash reward on each new Discover undergraduate and graduate student loan. Reward redemption period is limited. Please visit DiscoverStudentLoans.com/Reward for any applicable reward terms and conditions.
2. View Auto Reward Debit Reward Terms and Conditions at DiscoverStudentLoans.com/AutoDebitReward.
3. Aggregate loan limits apply.
4. Lowest rates shown are for the undergraduate loan and include an interest-only repayment discount and a 0.25% interest rate reduction while enrolled in automatic payments. The interest rate ranges represent the lowest interest rate offered on the Discover Undergraduate Loan and highest interest rates offered on Discover student loans, including Undergraduate, Graduate, Health Professions, Law and MBA Loans. The fixed interest rate is set at the time of application and does not change during the life of the loan. The variable interest rate is calculated based on the 3-Month LIBOR index plus the applicable Margin percentage. The margin is based on your credit evaluation at the time of application and does not change. For variable interest rate loans, the 3-Month LIBOR is 2.250%% as of October 1, 2019. Discover Student Loans will adjust the rate quarterly on each January 1, April 1, July 1 and October 1 (the “interest rate change date”), based on the 3-Month LIBOR Index, published in the Money Rates section of the Wall Street Journal 15 days prior to the interest rate change date, rounded up to the nearest one-eighth of one percent (0.125% or 0.00125). This may cause the monthly payments to increase, the number of payments to increase or both. Please visit discover.com/student-loans/interest-rates for more information about interest rates.

Discover's lowest variable rates shown are for the undergraduate loan and include an interest-only repayment discount and a 0.25% interest rate reduction while enrolled in automatic payments.

⁴Important Disclosures for CommonBond.

CommonBond Disclosures

Offered terms are subject to change and state law restrictions. Loans are offered through CommonBond Lending, LLC (NMLS #1175900).

1.  Rates are as of July 1, 2019 and include auto-pay discount. All loans are eligible for a 0.25% reduction in interest rate by agreeing to automatic payment withdrawals once in repayment. Variable rates may increase after consummation.

⁵Important Disclosures for Citizens Bank.

Citizens Bank Disclosures

Undergraduate Rate Disclosure: Variable rate, based on the one-month London Interbank Offered Rate (“LIBOR”) published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As of December 1, 2019, the one-month LIBOR rate is 1.70%. Variable interest rates range from 2.80% – 11.06% (2.80% – 10.91% APR) and will fluctuate over the term of the loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree earned and presence of a co-signer. Fixed interest rates range from 4.72% – 12.19% (4.72% – 12.04% APR) based on applicable terms, level of degree earned and presence of a co-signer. Lowest rates shown requires application with a co-signer, are for eligible applicants, require a 5-year repayment term, borrower making scheduled payments while in school and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change. Please note: Due to federal regulations, Citizens Bank is required to provide every potential borrower with disclosure information before they apply for a private student loan. The borrower will be presented with an Application Disclosure and an Approval Disclosure within the application process before they accept the terms and conditions of the loan.

Please Note: International Students are not eligible for the multi-year approval feature.