Application process for private loans

• Select a lender and contact them directly. The New School will process your loan with any lender you choose. For a list of institutions that have made private loans to New School students in the past three academic years see the chart below.
• The lender will provide application instructions and all necessary paperwork. The New School's code for student loans is 020662.
• Once your lender receives your completed master promissory note (MPN), they will contact The New School to certify your enrollment and confirm your eligibility. Different lenders process loans differently, so please confirm the application process with your lender.
• Download and complete the Student Self-Certification Form. (The self-certification is completed by the student and submitted upon request to the student's chosen lender.
• Funds will be disbursed directly to The New School. You will be notified when the funds have been applied to your account.

Interest

Variable (Unlike federal loans, there are no interest-rate maximums on these loans. Borrowers should shop for the best rate.)

Fees

Variable (Fees can vary widely, sometimes depending on the credit history of the borrower or co-borrower. Read carefully all terms and conditions of the loan you choose.)

Repayment

Normally, repayment must begin when a student finishes school (or falls below half-time status based on course load), but terms vary from lender to lender. IMPORTANT: Notify your lender about any change in your enrollment status or other important information such as your permanent address

The New School recommends that you exhaust your federal loan options before applying for a private loan.

If you are a U.S. citizen or eligible non-citizen, you may be eligible for grants/scholarships, federal work study, and government supported loans with more favorable terms and conditions than any private loans.

The list of lenders of private loan products borrowed by New School students since July 2007

The New School does not recommend, promote, or endorse the education loan products of the lenders listed. This list is provided solely to assist you in researching possible loan products. Note that lenders who made loans to New School students in the past but are no longer offering private student loan products are excluded from this list.

Sources of Private Student Loan Products Since July 2007 [+]