In 2011, the North Carolina General Assembly established this loan program to provide financial assistance for qualified students enrolled in an approved education program and committed to working in critical employment shortage professions in North Carolina. FELS loan recipients must sign a promissory note that will require them to seek loan forgiveness through employment in an approved position or repay the loan in cash. Loan forgiveness is described in the FELS Rules. Generally, a loan for one academic year will be forgiven for one year of full-time employment. For more information, visit the College Foundation of North Carolina website.