Physical Education-Coaching Scholarship Loan Program (PEC) – Inactive Program

The PEC Program provided forgivable loans to North Carolina students pursuing baccalaureate degrees to teach and coach in North Carolina Public Schools. You must complete loan forgiveness within five years of graduation, excluding periods of approved deferments.

You must repay your loan through loan forgiveness or cash payments.

Option 1: Loan Forgiveness

Requirements

You must meet the following requirements to qualify for loan forgiveness:

• Successfully graduate from the PEC Program
• Obtain licensure from the North Carolina Department of Public Instruction
• Secure full-time employment in a qualified position

How to Apply for Loan Forgiveness

1. Submit verification of graduation to NCSEAA.
2. Notify NCSEAA of your intent to repay through loan forgiveness within 90 days of graduation.
3. Obtain teacher licensure from the North Carolina Department of Public Instruction.
4. Secure a qualified position.
5. Complete a Loan Forgiveness Application form and return it to NCSEAA for approval.

For additional information, see Frequently Asked Questions about Loan Forgiveness.

Option 2: Repay the Loan in Cash

If you cannot repay the loan through loan forgiveness, then you must repay it in cash within ten years of graduation or withdrawal from the PEC Program. You may either repay the loan in one lump sum or monthly payments.

For additional information and instructions on how to repay in cash, visit Frequently Asked Questions: PEC Cash Repayment.

Deferment

A deferment is a period in which loan forgiveness or cash repayment of a loan is postponed or delayed. Although payments are not due during a deferment period, interest at the rate of ten percent will continue to accrue on the outstanding principal balance of the loan. You may apply for deferment by completing and returning a Postponement/Deferment Form to NCSEAA for approval.

For additional information visit Frequently Asked Questions: PEC Deferment.