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.


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


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.)


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
Apple Federal Credit Union 500458 1-877-233-4766
Arkansas FCU 532274 1-800-227-8968
Bank of America (TERI) 914817 1-877-233-4766
Bank-Fund Staff FCU 500485 1-877-233-4766
Baxter Federal Credit Union 500490 1-877-654-5258
Boeing Employee Credit Union 500473 1-877-654-5258
Brazos Higher Ed Service Cor 700014 1-800-453-0841
Campus Door 999444
Charter One 907786 1-800-721-3969
Charter One Bank (Undergrad Connect Loan) 907781 1-800-721-3969
Chase Education Finance - Chase Select 503000 1-800-487-4404
CHESLA 900001
Citibank Student Loan Corporation 826878 1-800-788-3368
Citizens Bank 700700 1-800-708-6684
Citzens Bank (Private Loans Only) 833883 1-800-708-6684
Citizens Bank Trufit Private Student Loan 700700 1-800-708-6684
Citizens Bank/Charter One by SMB 900914 1-800-708-6684
CLC (College Loan Corp) 833733 1-800-265-5343
Community 1st Credit Union of Florida PEL 532282 1-800-342-8416

CuStudent Loans

Discover Student Loans 831312 1-877-728-3030
Educaid/Wachovia - AES servicing 830005 1-877-689-0763
Elevations Federal Credit Union 500449 1-877-654-5258
Eli Lilly Federal Credit Union 500415 1-877-654-5258
Fifth Third Bank by SMB 808780 1-888-272-4665
Global Student Loan 1-212-736-9666
Hawaii USA FCU 500438 1-800-379-1300
HSBC Bank (DO NOT USE for FFELP) 80847 1-800-975-4722
Key Bank for Key Alternative Loan 800000 1-800-539-2978
Lake Trust Credit Union 500409 1-877-654-5258
Maine Education Loan Authority (MELA) 043958 1-800-922-6352
MEFA 733921 1-800-449-6332
Mid-Atlantic FCU 500463 1-866-243-5562
National City Bank 808877 1-800-421-4817    
Mid-Hudson Valley Federal Credit Union 532212 1-877-654-5258
NASA Federal Credit Union 500405 1-877-654-5258
Nassau Educators FCU Private Loan 532263 1-800-996-3328
Nellie Mae - Private Loan (Excel) 829988 1-800-634-9308
Nellie Mae Signature 900803 1-800-272-5543
NETFCU 500452 1-800-343-7126
New Jersey Class 822982 1-800-792-8670
NJ Class Loan 812345 1-800-792-8670  


PNC Bank 809921 1-888-768-8865
Polish and Slavic FCU 532269 1-800-206-8503
Quorum Federal Credit Union 500462 1-914-641-3700
RBS Citizens Bank, N.A. dba Charter 808140 1-800-708-6684
Regions Bank by SMB 900902 1-800-858-7822
RISLA (Rhode Island Student Loan Authority) 828577 1-800-758-7562
RISLA Family Education Loan 528577 1-800-758-7562
Sallie Mae Education Loan 900904 1-888-272-5543
Sallie Mae Smart Option Student Loan 900905 1-888-272-5543
San Francisco Fire Credit Union FEL 532229 1-866-825-6583
SanAnt FCU - Student Choice Loan 500407 1-800-234-7228
South Carolina Student Loan Corporation 833128 1-800-347-2752
Sun TrustBank 802560 1-866-76-6351
Suncoast Schools FCU 500434 1-800-999-5887
Tri-Co FCU (Fynanz) 901101 1-888-391-7991
US Bank 830694 1-800-242-1200
Vermont Student Assistance Corporation (Lender) 830075 1-888-307-8722
Visions Federal Credit Union 500417 1-888-327-7730
Wachovia (TERI) 805595 1-877-689-0763
Wells Fargo 807176 1-800-378-5526
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