Private Loans

Private student loans are non-federal loans, made by a lender such as a bank, credit union or state agency. These loans may have variable or fixed interest rates based upon the student's credit history and other lender specific program information. Prior to applying for a private loan, applicants should review their credit report for discrepancies, as credit history will help determine their eligibility and interest rate. 

Most lenders offer the option of obtaining a co-signer for private student loans. Please note that the University cannot act as a co-signer or sponsor for either domestic or international students.

New York University does not prefer, recommend, promote, endorse, or suggest any lenders. The list of lenders provided are lenders who have expressed interest in lending to Stern Graduate students. You are not required to borrow from any of the lenders appearing on our site and there is no penalty for selecting a different lender, if you prefer. 


Private Student Loan Application Tips

  • You do not need to file a FAFSA in order to apply for a private loan.
  • Review your credit report for discrepancies prior to applying.
  • 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.
  • Complete a separate loan application with a specified summer-only loan period for the summer semester.
  • Complete a new application for subsequent semesters. 

Things to Discuss With Your Lender

  • Interest rates: Are the availble rates fixed or variable?
  • Fees: Are there any application, origination, or disbursement fees? How much are the fees?
  • Capitalization: Will interest on the loan be captialized? When? How often?
  • Grace period: Is a grace period available before beginning repayment? How long is the grace period?
  • Hardship assistance: Ar there any opportuites for deferment, forbearance, or income-based repayment? Under what circumstances might a borrower be eligible for these benefits?
  • Other borrower benefits: Are there any other borrower benefits such as interest rate reduction or a co-signer release option?
  • Prepayment penalty: Am I able to pay more than my balance due without penalty in order to pay off my loan sooner?
  • Aggregate borrowing limits: How much money am I able to borrow over the course of my studies? Will I be able to borrow each semester without reaching the loan aggregate limit?
  • Repayment options and repayment terms: What options are available for repayment? 
  • Student enrollment status: Am I able to borrow as a ____ (full-time, half time, less than half time) student? Am I able to borrow for a prior semester? 

If you are interested in Public Service Loan Forgiveness, note that private student loans are not eligible for this federal program. However, you may be eligible to include private student loans for consideration under the NYU Stern Loan Assistance Program