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 Department of Education offers both Direct Unsubsidized and Graduate PLUS loans.
Students must submit the Free Application for Federal Student Aid (FAFSA) to be reviewed for federal aid. Applicants are encouraged to submit their FAFSA no later than May of the calendar year they intend to start school. The FAFSA data determine eligibility for the following:
Direct Unsubsidized Loan
Students are eligible for $10,250 per semester in the federal Direct Unsubsidized loan. The interest rate for the loan is currently fixed at 5.31%. A fee of 1.068% is applied at disbursement. This fee will be 1.069% for loans disbursed after October 1, 2016.
Graduate PLUS Loan
In order to supplement the federal Direct Unsubsidized loan, domestic students are also eligible for the Graduate PLUS loan to help cover the full cost of attendance. The interest rate for the loan is currently fixed at 6.31%. A fee of 4.272% is applied at disbursement. This fee will be 4.276% for loans disbursed after October 1, 2016.
More information on the federal loan programs can be found on the Stern Graduate Financial Aid site.
Private LoansU.S. citizens and U.S. permanent residents may also be eligible to borrow private student loans. A comprehensive list of lenders typically used by Stern students can be found on the Stern Graduate Financial Aid site.
International Students – Private Loans
International students may be eligible to receive private student loans with and/or without a U.S. co-signer. For information on potential student loan opportunities, please visit the Stern Graduate Financial Aid site.