Direct Loan Eligibility
- Be a U.S. citizen or a U.S. permanent resident (with a green card)
- Have a valid Social Security Number
- File a FAFSA (Free Application for Federal Student Aid) each academic year
- Be enrolled at least half time (a minimum of six paying credits per semester). If you take less than six credits, you will not be eligible to apply for federal loans and additionally, any previous loans you borrowed will be placed into their grace period.
- Be below the aggregate borrowing limit ($65,500 subsidized, $138,500 combined)
- Meet satisfactory academic progress as defined in the Stern Bulletin
- Comply with Selective Service Registration, if required
- Must not be in default on a federal student loan
As noted above, Selective Service registration is a requirement for federal aid. It is a way for the U.S. government to keep a list of names of men from which to draw in case of a national emergency requiring rapid expansion of our Armed Forces. All male U.S. citizens, and male aliens living in the U.S., who are 18 through 25, are required to register with selective service.
If you have been asked by FAFSA to provide proof of registration (or exemption), please visit www.sss.gov to apply for a Status Information Letter. Be sure to include your name, date of birth, Social Security Number, and current mailing address. As you await the arrival of the Status Information Letter, please submit the following to our office:
- A copy of your green card (front and back) if you are a permanent resident.
- Evidence of when you first entered the United States (usually demonstrated with a copy of visa stamp in passport).
- Written explanation of your status from the time you entered the United States until you became a permanent resident.
After accepting a Graduate Plus loan on the NYU Albert system, the government will check your credit to confirm approval. However, we advise you to use the credit report resources on our site to check your credit score prior to accepting the loan. If there is incorrect information on your report, be sure to rectify the issue(s). Possible conditions for a denied Graduate Plus loan are:
Graduate Plus Loan Eligibility
- Bankruptcy (Chapters 7, 11, or 12 within the past 5 years). Chapter 13 bankruptcy is not defined as being adverse.
- Voluntary surrender within the past 5 years
- Repossession within the past 5 years
- Foreclosure proceedings started and foreclosure within past 5 years
- Deed in lieu of foreclosure
- Delinquent Accounts (must be delinquent for 90 days or more)
- Unpaid (with a balance greater than zero) collection accounts and charged-off accounts
- Wage garnishment within the past 5 years
- Defaulted loans that have been claimed "paid"
- Lease or contract terminated by default
- County/State/Federal tax lien within the past 5 years
Please note that you may apply for the Graduate Plus loan with a credit-worthy co-signer if needed.