U.S. citizens and U.S. permanent residents are eligible for federal loans. They also have the option to apply for private loans.
Domestic Students – Federal and Private Loans
Federal LoansThe U.S. Department of Education offers both Stafford and Graduate PLUS loans.
Students must submit the Free Application for Federal Student Aid (FAFSA) to be reviewed for a federal Stafford or Graduate Plus loan. Applicants are encouraged to submit their FAFSA as early as possible and should submit it no later than May of the calendar year they intend to start school. The FAFSA data determine your eligibility for the following:
Unsubsidized Stafford Loan
Students are eligible for $20,500 (or $10,250 per semester) in unsubsidized federal Stafford loans. The interest rate for this loan is currently fixed at 6.21%. A fee of 1.072% is applied at disbursement.
Graduate PLUS Loans
In order to supplement the federal Stafford loans, domestic students are also eligible for the U.S. Government’s Graduate PLUS loan to help cover the full cost of attendance. The interest rate for the Graduate PLUS loan is currently fixed at 7.21%. A fee of 4.288% is applied at disbursement.
More information on federal loan programs can be found on the Stern Graduate Financial Aid website.
Private LoansU.S. citizens and U.S. permanent residents may be eligible to receive private loans. A comprehensive list of current lenders typically used by Stern students can be found on the Stern Graduate Financial Aid website.
International Students – Private LoansInternational students may be eligible to receive private student loans with and/or without a U.S. co-signer.
Without a U.S. co-signer
BAEF MBA Fellowship
Belgian American Educational Foundation Inc.
The Belgian American Educational Foundation will award MBA students an interest-free loan of up to $100,000 for two academic years. You must be a Belgian citizen to apply and if awarded, will need to repay the loan amount within five years of graduation. For further eligibility requirements as well as the application instructions, please visit the foundation's website.
Canadian Student Loan
Government of Canada
The Government of Canada works in partnership with most provinces and territories to deliver student financial assistance programs. The exceptions are Quebec, the Northwest Territories and Nunavut, which operate their own student financial assistance programs. To qualify, you must be a Canadian citizen, a permanent resident of Canada or a protected person. For further information, please visit the program website.
With a U.S. co-signerInternational students who have a U.S. co-signer can apply for up to the full cost of attendance. A comprehensive list of current lenders typically used by Stern students can be found on the Stern Graduate Financial Aid website.