Student Loan Information

Under the Direct Loan program, Stafford loans are borrowed directly from the federal government (U.S. Department of Education).  Please feel free to contact the Direct Loan Servicing Center at 1-800-848-0979 for any questions regarding Direct Loan Stafford loans. 

Complete Consent to Participate in Electronic Transactions Form. 

Federal law requires that Office of Student Finance (OSF) obtain a student's voluntary consent in order to participate in electronic transactions for all financial information provided or made available to student loan borrowers, and for all notices and authorizations to Federal Student Aid recipients required under 34 CFR 668.165. 

This consent will allow OSF to electronically communicate important financial aid information directly to you, which may include notices, disclosures, award letters, and directions to secure websites. Upon request, students are entitled to a paper copy of any of the information electronically communicated by OSF. 

 Please click HERE to complete ’s 2024-2025 electronic consent form.

Terms

• The 2024-2025 interest rate is fixed at 6.53%.
• Stafford Loans under the Direct Loan program have a 1.057% origination fee.

Example: A $5,500 Subsidized Stafford loan will net $5,442. Please keep this fee in mind while budgeting.

To apply for a Stafford Loan through the Direct Loan program, please follow the following steps:

1.  The entrance counseling is a mandatory process that is intended to help borrowers better understand the responsibilities that they will be taking on with this federal loan. The entrance counseling will walk borrowers through the importance of repayment, and the consequences of failing to do so. It will also discuss important points like how interest accrues and is capitalized. Finally, it will discuss repayment options for students and resources they have access to as borrowers.
2.  The Master Promissory Note (MPN) is a legal document that contains the Borrower’s Rights and Responsibilities and Terms and Conditions for repayment. 
3. Complete the Federal Stafford Loan Request Form in the accordion below. Once you have completed the form, thoroughly review the entered information once more and submit.

Your loan will NOT be processed until you have completed all of the above steps.

• Log into your Inside Track account: 
• On the top left of the page, click on the Main Menu (3 horizontal lines)
• Click on “Students”
• Scroll down to the Financial Aid card, and click on “Financial Aid Account”
• A new browser will open, taking you to your Banner account
• Next to "Aid Year" on the top right, select "Financial Aid 2024-2025"
• If you see "Responses Required" - "Questions from the Financial Aid Office", click the "View Questions" link and complete the electronic consent. You will not be able to proceed with accepting your Stafford loan until you satisfy this requirement. 
• On the top of the page, click on "Offer".
• Scroll down to the "Loans" section.
• Under "Type", you should see your Direct Stafford Loan(s).
• To the right, under "Take Action", select the appropriate option:
  • "Accept All" - select this option if you want to accept the full offered amount of the Stafford loan for the 2024-2025 academic year.
  • "Modify" - select this option if you want to accept less than the offered amount under either semester within the 2024-2025 academic year. If you accept less than the offered amount and would like to accept any unused offered portion of your Stafford loan at a later time, please contact Office of Student Aid. 
  • "Decline All" - select this option if you want to decline the full offered amount of the Stafford loan for the 2024-2025 academic year. If you want to accept any portion of your original Stafford loan offer at a later time within the 2024-2025 academic year, please contact Office of Student Aid.
• Click "Submit".
• (First time borrowers at )
• (First time borrowers at )  

Federal loans must be applied for before the end of the academic term, to view the undergraduate student calendar click here.

Under the Direct Loan program, PLUS loans are borrowed directly from the federal government (U.S. Department of Education). Eligibility and approval for this loan is based on a credit check, which is performed by the U.S. Department of Education. Please feel free to contact the Direct Loan Servicing Center at 1-800-848-0979 for any questions regarding the Direct Loan PLUS.

Terms

• The 2024-2025 interest rate is fixed at 9.08%.
• Parent Loans under the Direct Loan program deduct a 4.228% origination fee.
  Example: A $10,000 Parent PLUS loan will net $9,575. Please keep this fee in mind while calculating the actual net amount needed.

To apply for a Parent PLUS loan through the Direct Loan program, please complete the following steps:

STEP 1: Click  to complete your Parent PLUS Loan Application

• Click the "Log In to Start" link. 
• Complete the Parent PLUS Loan Application
• Applicants must include a dollar amount on the Parent PLUS loan application! Select the "I would like to specify a loan amount" option, and then input the amount that you would like to borrow within the "Loan Amount Requested" box. DO NOT select the "maximum Direct PLUS Loan amount" option! To help determine the amount that you may need to apply for, please refer to your financial aid award or contact the Financial Aid office at (646) 592-6250.
• Complete all of the required fields and submit the application
• Do Not Log Out of the studentaid.gov website! Proceed to Step 2!

STEP 2: If your Parent PLUS Loan Application is approved by Direct Loans, then proceed with completing your Parent PLUS Loan Master Promissory Note on the  website.
PLEASE NOTE: If you have completed a Parent PLUS Loan MPN with Direct Loans within the last 10 years, you may not be required to complete a new MPN. It is your responsibility to check with Direct Loans.

STEP 3: If your Parent PLUS Loan Application is approved, you will receive an email notification from Direct Loans containing the following subject line: "Direct PLUS Loan Application Confirmation". You are REQUIRED to forward that email to the Office of Student Aid at studentaid@yu.edu in order for your Graduate PLUS Loan to be officially processed.

What if your credit is denied?

If your credit is denied, you will be immediately notified by Direct Loans through the online application process. You will also receive notification from the Direct Loan Servicer (via email and mail). If you would still like to pursue obtaining a Parent PLUS loan, please choose from the following options:        

• You may try to have a credit status override completed by the servicer. Please contact the Direct Loan Servicer at 1-800-557-7394 and Equifax (their credit bureau) at 1-800-685-5000.
• You may provide documentation to the Direct Loan Servicer if you have extenuating circumstances. Your request for a Parent PLUS will be reviewed again by the servicer.
• You may have a third party endorser co-sign the Parent PLUS application with you. In this case, please contact the Direct Loan Servicer at 1-800-557-7394. 
• If your credit was originally denied, and then your Parent PLUS was approved by any of the three methods above, you will be required to complete an additional PLUS Counseling by visiting . Log in and click on the "Complete PLUS Counseling" link.

Students are required to accept their annual Stafford loans BEFORE parents can apply for the Parent PLUS loan! 

Federal loans must be applied for before the end of the academic term, to view the undergraduate student calendar click here

Under the Direct Loan program, Stafford loans are borrowed directly from the federal government (U.S. Department of Education). Please feel free to contact the Direct Loan Servicing Center at 1-800-848-0979 for any questions regarding Direct Loan Stafford loans.

Complete Consent to Participate in Electronic Transactions Form. 

Federal law requires that Office of Student Finance (OSF) obtain a student's voluntary consent in order to participate in electronic transactions for all financial information provided or made available to student loan borrowers, and for all notices and authorizations to Federal Student Aid recipients required under 34 CFR 668.165. 

This consent will allow OSF to electronically communicate important financial aid information directly to you, which may include notices, disclosures, award letters, and directions to secure websites. Upon request, students are entitled to a paper copy of any of the information electronically communicated by OSF. 

 Please click HERE to complete ’s 2024-2025 electronic consent form.

Terms

• The 2024-2025 interest rate is fixed at 8.08%.
• Stafford Loans under the Direct Loan program have a 1.057% origination fee.

Example: A $20,500 Stafford loan will net $20,283, Please keep this fee in mind while budgeting.

To apply for a Stafford Loan through the Direct Loan program, please follow the following steps:

1.  The entrance counseling is a mandatory process that is intended to help borrowers better understand the responsibilities that they will be taking on with this federal loan. The entrance counseling will walk borrowers through the importance of repayment, and the consequences of failing to do so. It will also discuss important points like how interest accrues and is capitalized. Finally, it will discuss repayment options for students and resources they have access to as borrowers.
2.  The Master Promissory Note (MPN) is a legal document that contains the Borrower’s Rights and Responsibilities and Terms and Conditions for repayment. 
3. Complete the Federal Stafford Loan Request Form in the accordion below. Once you have completed the form, thoroughly review the entered information once more and submit.

Your loan will NOT be processed until you have completed all of the above steps.

• Log into your Inside Track account: 
• On the top left of the page, click on the Main Menu (3 horizontal lines)
• Click on “Students”
• Scroll down to the Financial Aid card, and click on “Financial Aid Account”
• A new browser will open, taking you to your Banner account
• Next to "Aid Year" on the top right, select "Financial Aid 2024-2025"
• If you see "Responses Required" - "Questions from the Financial Aid Office", click the "View Questions" link and complete the electronic consent. You will not be able to proceed with accepting your Stafford loan until you satisfy this requirement. 
• On the top of the page, click on "Offer".
• Scroll down to the "Loans" section.
• Under "Type", you should see your Direct Unsub Stafford Loan.
• To the right, under "Take Action", select the appropriate option:
  • "Accept All" - select this option if you want to accept the full offered amount of the Stafford loan for the 2024-2025 academic year.
  • "Modify" - select this option if you want to accept less than the offered amount under either semester within the 2024-2025 academic year. If you accept less than the offered amount and would like to accept any unused offered portion of your Stafford loan at a later time, please contact Office of Student Aid. 
  • "Decline All" - select this option if you want to decline the full offered amount of the Stafford loan for the 2024-2025 academic year. If you want to accept any portion of your original Stafford loan offer at a later time within the 2024-2025 academic year, please contact Office of Student Aid.
• Click "Submit".
• (First time borrowers at )
• (First time borrowers at )  

Federal loans must be applied for before the end of your academic term, to view the graduate student calendar click here.

Under the Direct Loan program, Graduate PLUS loans are borrowed directly from the federal government (U.S. Department of Education). Eligibility and approval for this loan is based on a credit check, which is performed by the U.S. Department of Education.  Please feel free to contact the Direct Loan Servicing Center at 1-800-848-0979 for any questions regarding the Direct Loan Graduate PLUS.

Terms

• The 2024-2025 interest rate is fixed at 9.08%.
• Graduate PLUS Loans under the Direct Loan program are subject to a 4.228% origination fee. Example: a $10,000 Graduate PLUS loan will net $9,575. Please keep this in mind while calculating the actual net amount needed.

APPLY FOR A FEDERAL GRADUATE PLUS LOAN: 

• 2024-2025 academic year - Do not apply for a Graduate PLUS loan until you have filed your 2024-2025 FAFSA, received an official 2024-2025 financial aid award notification from Financial Aid Office , and have accepted your 2024-2025 Stafford loan.

To apply for a Graduate PLUS loan through the Direct Loan program, please complete the following steps:

STEP 1: Click  to complete your Graduate PLUS Loan Application

• Click the "Log In to Start" link. 
• Complete the Graduate PLUS Loan Application
• Applicants must include a dollar amount on the Graduate PLUS loan application! Select the "I would like to specify a loan amount" option, and then input the amount that you would like to borrow within the "Loan Amount Requested" box. DO NOT select the "maximum Direct PLUS Loan amount" option! Continuing students can view their financial aid account and cost of attendance budget on Banner Self-Service: . 
• Complete all of the required fields and submit the application
• Do Not Log Out of the studentaid.gov website! Proceed to Step 2!

STEP 2: If your Graduate PLUS Loan Application is approved by Direct Loans, proceed with completing your Graduate PLUS Loan Master Promissory Note (MPN) on the website. PLEASE NOTE: If you have completed a Graduate PLUS Loan MPN with Direct Loans within the last 10 years, you may not be required to complete a new MPN. It is your responsibility to check with Direct Loans. This does not apply to any student who received a Graduate PLUS loan with an endorser. Endorsed Graduate PLUS loans require a new MPN for every new loan!

STEP 3: If your Graduate PLUS Loan Application is approved, you will receive an email notification from Direct Loans containing the following subject line: "Direct PLUS Loan Application Confirmation". You are REQUIRED to forward that email to the Office of Student Aid at studentaid@yu.edu in order for your Graduate PLUS Loan to be officially processed.

**Applicants are required to accept their annual Stafford loan BEFORE applying for a Graduate PLUS loan! If you have not accepted your Stafford loan on your InsideTrack portal, do not proceed with completing the Graduate PLUS loan application! Once you have accepted your Stafford loan, you can proceed with completing the Graduate PLUS loan application!   

What if your credit is denied?

If your credit is denied, you will be immediately notified by Direct Loans through the online application process. You will also receive notification from the Direct Loan Servicer (via email and mail). If you would still like to pursue obtaining a Graduate PLUS loan, please choose from the following options:        

• You may try to have a credit status override completed by the servicer. Please contact the Direct Loan Servicer at 1-800-557-7394 and Equifax (their credit bureau) at 1-800-685-5000.
• You may provide documentation to the Direct Loan Servicer if you have extenuating circumstances. Your request for a Grad PLUS will be reviewed again by the servicer.
• You may have a third party endorser co-sign the Grad PLUS application with you. In this case, please contact the Direct Loan Servicer at 1-800-557-7394. 
• If your credit was originally denied, and then your Grad PLUS was approved by any of the three methods above, you will be required to complete an additional PLUS Counseling by visiting . Log in and click on the "Complete PLUS Counseling" link.

Please note: Federal loans must be applied for before the end of your academic term, to view the graduate student calendar click here.