CFNC Reports 22 Percent Increase in FAFSA Filers

-- More N.C. college students seek state and federal grants, scholarships and
low-interest loans --

RALEIGH, N.C., Aug. 5 /PRNewswire-USNewswire/ -- More than 45,000 additional
North Carolinians filed the Free Application for Federal Student Aid (FAFSA)
from January 2008 through June 2008, a 22 percent increase over the same time
period in 2007, according to a U.S. Department of Education report reviewed by
College Foundation of North Carolina (CFNC). Over 252,000 North Carolina
students have filed the FAFSA during the first six months of the current
application period, which remains open throughout the upcoming school year.

The FAFSA is a federal form required for a student and family to be considered
for state and federal financial aid for college, including scholarships,
grants and low-interest loans. A North Carolina student who files a FAFSA is
automatically considered for need-based state grants without having to
complete a separate application form.

"Undoubtedly, CFNC publicity and events such as the state-wide annual FAFSA
Day, combined with new aid programs like the EARN Scholarship, the North
Carolina Education Lottery Scholarship, the UNC Need-Based Grant, the
Community College Grant and other state programs are increasing awareness that
college funding is available for North Carolinians," said Steve Brooks,
executive director of the N.C. State Education Assistance Authority.

Brooks continued, "North Carolina invests in the future of its citizens by
offering more than $600 million in state aid per year, making college access
and success possible for many lower and middle income students. Filing a
FAFSA is free - and it may make a big difference in helping families find
money for college."

North Carolina is among the top states with significant increases in students
applying for financial aid to attend college. North Carolina's 22 percent
growth exceeded the national average increase of 16 percent.

In fact, during the month of July 2008, the CFNC call center handled more than
23,800 college financial aid inquiries on its toll-free number 1-866-866-CFNC
- a 33 percent increase over the same month last year.

About CFNC

College Foundation of North Carolina (CFNC), a free service of the State of
North Carolina provided by Pathways, College Foundation, Inc. and the N.C.
State Education Assistance Authority, helps students plan, apply and pay for
college.

The North Carolina State Education Assistance Authority is the State agency
that promotes access to higher education by administering financial aid and
savings programs, informing students and families about paying for college,
teaching educators about financial aid administration, and advocating for
resources to support students.

Pathways is a state-based initiative including North Carolina's Department of
Public Instruction, the University of North Carolina System, the North
Carolina Community Colleges, and the North Carolina Independent Colleges and
Universities working together to increase access to college for all North
Carolinians.

College Foundation, Inc., a nonprofit corporation serving North Carolina
students and families since 1955, administers a portfolio of more than $3
billion, including low-interest federal education loans, the state's college
grant programs and the tax-free "529" college savings program on behalf of the
N.C. State Education Assistance Authority.

CFNC offers its resources via telephone, toll-free at 1-866-866-CFNC or on its
website at CFNC.org.

SOURCE College Foundation of North Carolina

Ben Kittner, Market Research & Public Relations Mgr. of College Foundation of
North Carolina, +1-919-835-2336, bkittner@cfi.org