U.S. Domestic Student Loans

Domestic students (U.S. citizens and U.S. permanent residents) are eligible for federal student loans and may also be eligible for loans with private lenders. Please read through the information below about securing loans.
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Students who apply for financial aid via the FAFSA are reviewed for all types of aid for which they may be eligible. One of the largest federal aid programs is the William D. Ford Federal Direct Lending Program. It is comprised of loans such as the Federal Direct Unsubsidized and Federal Direct Graduate PLUS loans. The Federal Direct Lending program is funded by the U.S. federal government, supported by the U.S. Treasury.

Domestic students (U.S. citizens and U.S. permanent residents) who are enrolled at least half-time (6 or more credits) may be eligible to borrow up to $10,250 in Federal Direct Unsubsidized Loans per semester. Federal Direct Unsubsidized Loans are fixed-interest education loans which do not require credit approval. Federal Direct Graduate PLUS loans are also available to help cover the remaining Cost of Attendance. Loan approval is contingent upon a credit check. The loan terms and repayment options are regulated by the federal government. 
  Federal Direct Unsubsidized Loan Federal Direct Graduate PLUS Loan 
Interest Rat​e 6.60% fixed*
(Effective for loans disbursed between July 1, 2018 and June 30, 2019)
7.60% fixed**
(Effective for loans disbursed between July 1, 2018 and June 30, 2019)
Origination Fee 1.066%
(Prior to October 1, 2017, this fee was 1.069%)
4.264%
(Prior to October 1, 2017, this fee was 4.276%)
Eligibility Not need-based. Loan approval contingent upon a credit check (see eligibility below).
In-School Interest Interest begins to accrue at disbursement. The student may defer the principal and the interest may be capitalized. Interest begins to accrue at disbursement. The student may defer the principal and the interest may be capitalized.
Maximum Borrowing Amount Maximum of $10,250 per semester. Generous loan limits. Students can borrow up to the full cost of attendance, less the amount of other financial aid received.
*Based on 10-year Treasury bond yield plus 3.60%. Interest rate not to exceed 9.50%.
** Based on 10-year Treasury bond yield plus 4.60%. Interest rate not to exceed 10.50%.

Please Note: As of July 2012, Federal Direct Subsidized Loans are no longer offered to graduate students. The semester loan limit of $10,250 remains, but only includes Federal Direct Unsubsidized Loans.
To be eligible for Federal Loans, you must:
  • 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

Selective Service

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 the Financial Aid 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.
In order to borrow the Direct Graduate PLUS loan, you must meet the eligibility criteria of the Unsubsidized Loan. Additionally, after accepting a Federal Direct Graduate PLUS loan on the NYU Albert system, the government will check your credit to confirm approval. We advise you to use the credit report resources on our Financial Aid 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 Federal Direct Graduate PLUS loan are outlined by the Department of Education.

Per the Department of Education, for purposes of qualifying for a Direct PLUS Loan, you are considered to have an adverse credit history if:
- you have one or more debts with a total combined outstanding balance greater than $2,085 that are 90 or more days delinquent as of the date of the credit report, or that have been placed in collection or charged off (written off) during the two years preceding the date of the credit report, OR
- during the five years preceding the date of the credit report, you have been subject to a:
  • default determination
  • discharge of debts in bankruptcy
  • foreclosure
  • repossession
  • tax lien
  • wage garnishment
  • write-off of a federal student aid debt
If you apply for a Direct PLUS Loan and are notified that you have an adverse credit history, you will be provided detailed information on the options for qualifying by obtaining an endorser or submitting documentation of extenuating circumstances, along with instructions on how to complete the required PLUS counseling.

An accepted credit check is valid for 180 days.
  • File the FAFSA (Free Application for Federal Student Aid) at www.fafsa.ed.gov and include NYU's school code 002785. The information you report is used to determine your eligibility for Federal Direct Unsubsidized Loans and Federal Direct Graduate PLUS loans.
  • Officially accept the loans on NYU Albert, the university-wide system. You will first receive instructions on how to secure your loans via your Stern e-mail account about one month prior to the registration and payment deadline.
  • Electronically sign your Master Promissory Note (MPN) at www.studentloans.gov. There is a separate MPN for the Federal Direct Unsubsidized Loan and the Federal Direct Graduate PLUS loan.
  • Complete ONE online entrance counseling session at www.studentloans.gov. This includes information regarding both loans.
  • Renew the FAFSA for each academic year in which you wish to receive federal aid. The MPNs for all federal loans are valid for 10 years. However, if a student applies for the Federal Direct Graduate PLUS loan with an endorser, he/she must sign a new MPN for each additional Graduate PLUS loan desired. Please email the Stern Graduate Financial Aid Office if you were credit approved with an endorser or as a result of the credit appeal process.
  • Track your federal loans on the National Student Loan Data System. NSLDS displays information on loan amounts, balances, statuses, servicers and disbursements. Please note that loans are reported to NSLDS within 30 days of receipt of funds. If you have been making payments on a loan, the outstanding principal balance listed by NSLDS may be as much as 120 days old. You should contact the loan servicer for more up-to-date balance information.
Federal Student Aid Information Center
(general inquiries)
(800) 433-3243
Student Loan Support Center
(Master Promissory Note and Entrance Counseling assistance)
(800) 557-7394
Direct Loan Servicing Center
(deferment questions)
(800) 848-0979
Loan Consolidation Information Call Center
(consolidation inquiries)
(800) 557-7392
Federal Student Aid Ombudsman
(student loan issues)
(877) 557-2575

Private Student Loans

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Private student loans are non-federal loans, made by a lender such as a bank, credit union, or state agency. Typically, private loans have variable interest rates based upon the student's credit score. Some lenders may offer fixed interest rate options as well. Please 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 a student loan. Please note that the University cannot act as a co-signer or sponsor. 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 (Fertitta Veterans Program students only).
  • 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. 
We are pleased to present the following alphabetical list of lenders who have expressed an active interest in lending to NYU Stern students. You are not required to borrow from any of the lenders listed below and there is no penalty for selecting a different lender, if you prefer. Such loans are for education purposes, which means you must be a registered student and the amount you can borrow cannot exceed your cost of attendance as listed on the Stern Graduate Financial Aid website. For application information and details about terms and conditions, please visit the lender's website or contact the sponsor's toll-free number. Please note that application fees are not refundable. Typical processing time is 3-4 weeks. Please plan accordingly.

Students must complete the Student Self-Certification Form provided by their lender when applying for private loans. Federal government regulations require that a lender obtain a self-certification signed by the loan applicant before disbursing a private education loan.

When applying, be sure to select the correct loan, specifying your status as a Stern graduate student (where applicable).
 

*Please note that the University cannot act as a co-signer or sponsor for domestic or international students. Given the current student loan industry climate, please be aware that loan programs are subject to change at any time.