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Private Loans

Private student loans are offered through private lenders. Typically, they have variable interest rates based upon the student's credit score. Some lenders may offer fixed interest rate options as well. Please feel free to explore the credit report resource page on the Stern Graduate Financial Aid website. Most lenders do 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. Found below are important guidelines to be followed when applying for a private student loan:

  • You do not need to file a FAFSA in order to apply for a private loan.
  • You may 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.
  • The summer semester always requires a separate private loan application with a specified summer-only loan period.
  • For full-time and executive MBA students, the maximum amount that may be certified from a single private loan application is $99,999. This, of course, is contingent upon the student's cost of attendance as well as other sources of financial aid. 
  • For a subsequent private loan, you must complete a new application with the lender of your choice.