Federal Student Loan Procedure
- File the FAFSA (Free Application for Federal Student Aid) at www.studentaid.gov and include NYU's school code 002785. The information you report is used to determine your eligibility for the Federal Direct Unsubsidized Loan and the Federal Direct Graduate PLUS Loan.
- 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.
Please note: If you plan to use your federal student loan(s) to cover your tuition and other NYU-related charges, accept your loan(s) before your payment deadline. However, you will have until approximately one month before the semester ends to accept them.
- Electronically sign your Loan Agreement (MPN) at www.studentaid.gov. There is a separate Loan Agreement (MPN) for the Federal Direct Unsubsidized Loan and the Federal Direct Graduate PLUS Loan.
- Complete ONE on-line entrance counseling session at www.studentaid.gov. This includes information regarding both the Federal Direct Unsubsidized Loan and the Federal Direct Graduate PLUS Loan.
- Renew the FAFSA for each academic year in which you wish to receive federal aid. The Loan Agreements (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 Loan Agreement (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.
Direct Loan Contact Information
|General Federal Student Aid Information Center
|COD School Relations-Applicant Services
(Loan Agreement (MPN) assistance)
|Direct Loan Consolidation Center
|Federal Student Aid Ombudsman
(student loan issues)
|Consumer Protection Financial Bureau (CFPB)
(consumer education tools and student loans complaints)