Private Student Loans

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 [+]

 

Lender Name Lender Code Phone Number Web Address
Addison Ave FCU 532270 1-877-233-4766   addisonavenue.coom/loans/student/private.htm
Alaska Commission on Postsecondary Education 826966 1-877-233-4766   akadvantage.alaska.gov
Apple Federal Credit Union 500458 1-877-233-4766   applefcu.studentchoice.org/
Arkansas FCU 532274 1-800-227-8968   www.arcu.studentchoice.org
Bank of America (TERI) 914817 1-877-233-4766   www.bankofamerica.com/studentbanking/pdf/TERI
Bank-Fund Staff FCU 500485 1-877-233-4766   bfsfcu.org/products_and_services/loans/education_loans.html
Baxter Federal Credit Union 500490 1-877-654-5258   www.bcu.org
Boeing Employee Credit Union 500473 1-877-654-5258   www.becu.org
Brazos Higher Ed Service Cor 700014 1-800-453-0841   www.bhesc.org
Campus Door 999444     campusdoor.com
Charter One 907786 1-800-721-3969   www.charterone.com/student-services/default.aspx
Charter One Bank (Undergrad Connect Loan) 907781 1-800-721-3969   www.charterone.com/student-service
Chase Education Finance - Chase Select 503000 1-800-487-4404   www.chasestudentloans.com
CHESLA 900001 chesla1@chesla.org   www.chesla.org
Citibank Student Loan Corporation 826878 1-800-788-3368   www.studentloan.com
Citizens Bank 700700 1-800-708-6684   www.citizensbank.com/student-services/default.aspx
Citzens Bank (Private Loans Only) 833883 1-800-708-6684   www.citizensbank.com/student-services
Citizens Bank Trufit Private Student Loan 700700 1-800-708-6684   www.citizensbank.com/student-services
Citizens Bank/Charter One by SMB 900914 1-800-708-6684   www.citizensbank.com/student-services
CLC (College Loan Corp) 833733 1-800-265-5343   www.collegeloan.com/private-student-loans/
Community 1st Credit Union of Florida PEL 532282 1-800-342-8416   www.communityfirstfl.org/applicationcenter/index.php

CuStudent Loans

901101     http://app.custudentloans.org/edaccess/step_1?sk=SCH-The-New-School-2011
Discover Student Loans 831312 1-877-728-3030   www.discoverstudentloans.com/
Educaid/Wachovia - AES servicing 830005 1-877-689-0763   www.wellsfargo.com/wacovia/student
Elevations Federal Credit Union 500449 1-877-654-5258   www.elevationscu.com
Eli Lilly Federal Credit Union 500415 1-877-654-5258   www.elfcu.org
Fifth Third Bank by SMB 808780 1-888-272-4665   www.salliemae.com/im_applying/smart-option
Global Student Loan info@globalSLC.com 1-212-736-9666   http://www.globalslc.com/
Hawaii USA FCU 500438 1-800-379-1300   www.hawaiiusafcu.com/student_loans.html
HSBC Bank (DO NOT USE for FFELP) 80847 1-800-975-4722   www.ushsbc.com
Key Bank for Key Alternative Loan 800000 1-800-539-2978   www.key.com
Lake Trust Credit Union 500409 1-877-654-5258   www.laketrust.org
Maine Education Loan Authority (MELA) 043958 1-800-922-6352   firstapp2.firstmarkservices.com/Firstapprearch_starlite/Consumer/webforms/default.aspx
MEFA 733921 1-800-449-6332   www.mefa.org/planByAge/famUndergrad.aspx
Mid-Atlantic FCU 500463 1-866-243-5562   www.mafcu.studentchoice.org/
National City Bank 808877 1-800-421-4817    
Mid-Hudson Valley Federal Credit Union 532212 1-877-654-5258   www.mhvfcu.com
NASA Federal Credit Union 500405 1-877-654-5258   www.nasafcu.com
Nassau Educators FCU Private Loan 532263 1-800-996-3328   www.mynefcu.org
Nellie Mae - Private Loan (Excel) 829988 1-800-634-9308   www.nelliemae.org
Nellie Mae Signature 900803 1-800-272-5543   www.nelliemae.org/loancenter/index.html
NETFCU 500452 1-800-343-7126   www.netfcu.org/indexset.html
New Jersey Class 822982 1-800-792-8670   www.hesaa.org
NJ Class Loan 812345 1-800-792-8670  

www.hesaaorg

PNC Bank 809921 1-888-768-8865   www.pnc.com/webapp/unsec/Homepage.do?siteArea=/PNCCorp/PNC/Home/Personal
Polish and Slavic FCU 532269 1-800-206-8503   www.psfcu.studentchoice.org/
Quorum Federal Credit Union 500462 1-914-641-3700   http://quorumfcu.org
RBS Citizens Bank, N.A. dba Charter 808140 1-800-708-6684   www.citizensbank.com/student-services
Regions Bank by SMB 900902 1-800-858-7822   www.regions.com
RISLA (Rhode Island Student Loan Authority) 828577 1-800-758-7562   www.risla.com
RISLA Family Education Loan 528577 1-800-758-7562   www.risla.com/loans
Sallie Mae Education Loan 900904 1-888-272-5543   www.salliemae.com/newschool
Sallie Mae Smart Option Student Loan 900905 1-888-272-5543   www.salliemae.com/im_applying/smart-option
San Francisco Fire Credit Union FEL 532229 1-866-825-6583   www.sffirecu.org
SanAnt FCU - Student Choice Loan 500407 1-800-234-7228   www.sacu.com/MenuLoans/Educ-StudentLoans.asp
South Carolina Student Loan Corporation 833128 1-800-347-2752   www.scstudentloan.org/students.aspx
Sun TrustBank 802560 1-866-76-6351   moneyforcollege.suntrust.com/
Suncoast Schools FCU 500434 1-800-999-5887   www.suncoastfcu.org/Default.aspx?tabid=133
Tri-Co FCU (Fynanz) 901101 1-888-391-7991   www.tricofcu.com/products
US Bank 830694 1-800-242-1200   www.usbank.com/cgi_w/cfm/personal/products_and_services/student_banking/stud_loans.ps.cfm
Vermont Student Assistance Corporation (Lender) 830075 1-888-307-8722   www.vsac.org
Visions Federal Credit Union 500417 1-888-327-7730   www.visionsfcu.org/memberResources/consumerLoans.asp
Wachovia (TERI) 805595 1-877-689-0763   www.wellsfargo.com/wachovia/student/
Wells Fargo 807176 1-800-378-5526   www.wellsfargo.com/student/whattoexpect
 
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