Principal Fellows Program (PFP)

The PFP Program provides merit-based scholarship loans for individuals with teaching or relevant experience who want to enter education administration in North Carolina public schools.

You must repay your Principal Fellows Program loan through loan forgiveness by working as a principal or assistant principal in a North Carolina public school or cash payments.

Option 1: Loan Forgiveness

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

• Graduate from a school administrator program supported by the loan
• Obtain a school administrator certification from the North Carolina Department of Public Instruction
• Secure a qualified position as a principal or assistant principal in a public school in North Carolina

How to Apply for Loan Forgiveness

1. Submit verification of graduation to NCSEAA. You may submit a copy of your diploma, a transcript, or a letter from the school registrar confirming your degree.
2. Notify NCSEAA of your intent to repay through loan forgiveness within 90 days of graduation, even though you may not have secured a qualifying position. You may complete this process during the exit interview at graduation on the Student Portal or through Repayment Services at (919) 549-8614, ext 4654 or (800) 700-1775, ext 4654.
3. Obtain a school administrator certification from the North Carolina Department of Public Instruction.
4. Secure a full-time qualified position in North Carolina.

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 twelve years of graduation or ten years of withdrawal from the Principal Fellows Program. You may repay the loan in one lump sum or monthly installment payments.

For additional information and instructions on how to repay in cash visit Frequently Asked Questions: PFP 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 your 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: PFP Deferment.