Tech MBA Admitted Students | International Student Loans

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 feel free to 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 the 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 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 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. 

When applying for a private loan, you will submit an application directly to the lender of your choice. For a sample list of lenders, please refer to the private loans section on this site. In the event that you do not have your required Immigration and Naturalization Service (INS) documents, you may still submit a private loan application. It is advised that a student provide their lender with the paperwork they currently have at their disposal and then follow up once the INS documentation (visa and I-20) is received. The processing time at that point will be much faster than if the application were to be submitted once all the INS information is processed.

Keep in mind that if you have a social security number (SSN), you are required by lenders to use the number at the time you submit a private loan application. This means that should you be approved for the loan, the lender will disburse the funds to NYU under your SSN. Thus, you must update your information in NYU’s database via the Office of Records and Registration so that the loan properly disburses to your account. Failure to update your information may result in the loan funds being returned to the lender. They will then have to be reissued which will greatly delay your tuition from being paid.

 
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.

• Students must complete the Student Self-Certification Form from the Financial Aid website 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.
• Apply for a semester-only private loan or a fall/spring loan combined about one month prior to your payment deadline. Typical processing time is 3-4 weeks, but may be longer. Please plan accordingly.
• Complete the "Tuition and Fees Worksheet" by your established payment deadline. This form is located on the Stern Bursar’s website. However, for newly admitted students, the form will be made available on the Admitted Student website in early summer. Be sure to list only APPROVED loan amounts on the worksheet.
• If you have confirmed approval of your loans via NYU Albert, you may include the loan amounts on the payment worksheet. All approved loans will be credited directly to your Stern Bursar bill, and you will not need to pay this amount out of pocket.
• The lender sends the fall loan disbursement to the Bursar prior to the start of the semester.
• Disbursement will occur after your payment deadline. However, as long as your loans are approved by the deadline and you have submitted a payment worksheet, the Bursar will credit the amount to your account.
• The Bursar will refund you any loan credit beyond tuition and fees. We encourage you to use the direct deposit option for your loan refund. For direct deposit, a U.S. bank account is needed. Please feel free to explore information from the New York University Federal Credit Union if interested in setting up a U.S. bank account. If you do not have direct deposit, the refund check will be mailed to your current U.S. address.
• Due to the high volume of disbursements at the start of each semester, you should not count on your refund for the first month of classes. Please budget accordingly.
• Prepare for the spring semester by completing the Spring “Tuition and Fees Worksheet” for the Office of the Bursar.

International students may explore:

• Scholarships - Scholarships awarded by Stern are merit-based and do not require a separate application.
• Tuition Remission positions - Eligible students who complete teaching and graduate fellowship positions can receive partial tuition remission or payroll in exchange for their service.

International students are also encouraged to take advantage of external sources of aid. These may include:

• Private Grants & Scholarships - Many organizations offer support for international students. You should contact any civic, fraternal, religious, or service organizations with which you are already affiliated to see if they offer any assistance.
• Government Support - Some countries provide support for their citizens who are studying in the United States. Contact your country's ministry of education, embassy, or consulate about possible funding.
• Corporate Support (Employer Sponsorship) - You should inquire with your employer about any financial support available within your corporate organization. Contact your supervisor or human resources department for detailed information.