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Private Loans

Private student loans are non-federal loans, made by a lender such as a bank, credit union or state agency. They have variable or fixed interest rates based upon the student's credit score. For credit report resources and information, please click here.

Most lenders offer the option of obtaining a co-signer for the student loan. Please note that the University cannot act as a co-signer or sponsor for either domestic or international students.

Private Student Loan Application Tips

  • You do not need to file a FAFSA in order to apply for a private loan.
  • Apply for a semester-only loan or a fall/spring loan combined. The latter will consist of two loan disbursements: one in fall and a second in spring.
  • Complete a separate loan application with a specified summer-only loan period for the summer semester.
  • Complete a new application for subsequent semesters. 

Things to Discuss With Your Lender

  • Interest rates: fixed or variable 
  • Capitalization: timing and frequency
  • Grace period
  • Co-signer release option
  • Hardship assistance: deferment, forbearance, income-based repayment
  • Borrower benefits: interest rate reduction, prepayment penalty, application/origination fees
  • Aggregate borrowing limits

If you are interested in Public Service Loan Forgiveness, note that private student loans are not eligible for this federal program. However, you may be eligible to include private student loans for consideration under the NYU Stern Loan Assistance Program

NYU Policy

For full-time and executive MBA students, the maximum amount that may be certified from a single private loan application is $99,999. This is contingent upon the student's cost of attendance as well as other sources of financial aid.