• Office of Student Finance

  • Loans

    Your financial aid award letter may suggest various types of loan options. Eligibility for these loans may be based on the following criteria: results of the FAFSA, anticipated enrollment status (a minimum of 6 credits is required each semester), expected housing status, and for campus-administered loans, the availability of funds.

    Stafford Loan

    To accept the Stafford Loan, please click here. 

    ALL borrowers, please read through all of the Stafford loan information below. Under the William D. Ford Federal Direct Loan Program (Direct Loan), the funds for your loan come directly from the federal government.

    Basic Loan Information:

    Federal Stafford Loans do not require a credit check, and include benefits such as a fixed interest rate, six month grace period, and deferment options to help you succeed in repayment.The amount you can borrow depends on your year in school (academic level); please see "Annual Loan Limits" below.

    There are two types of Stafford loan:

    • Subsidized: the federal government pays the interest on your loan while you are in school, during the grace period, and during deferments. Eligibility for a subsidized Stafford loan is based on financial "need," which is determined based on the results of your FAFSA.
    • Unsubsidized: interest starts accruing once the loan is disbursed, and you are responsible for the interest on the portion of the loan while in school, during periods of grace and deferment, as well as repayment.

    Please refer to your most current financial aid award letter for your offered Stafford loan amount(s).

     

    Annual Loan Limits:

    Dependant Students
    1st year - $5,500 (up to $3,500 subsidized)
    2nd year - $6,500 (up to $4,500 subsidized)
    3rd year and beyond - $7,500 (up to $5,500 subsidized)

    Independant Students
    1st year - $9,500 (Up to $3,500 subsidized)
    2nd year - $10,500 (Up to $4,500 subsidized)
    3rd year and beyond - $12,500 (Up to $5,500 subsidized)

    Please note: If you are a dependent student whose parents are unable to obtain a PLUS loan, you may also qualify for these higher loan limits.

    Fee: There will be a fee of up to 1.072% from the amount borrowed for Stafford Loans. 

    Perkins, YU, and Korein Loans

    Yeshiva University offers Perkins, YU, and Korein Loans, which are administered through the Office of Student Finance. If you were offered any of these loans, please refer to your most recent Student Aid award letter for the offered amount(s). Students who have previously accepted these loans need to complete the YU/Perkins request form, which is available in the Office of Student Finance. All new borrowers must complete entrance counseling and a promissory note to ensure appropriate loan disbursement and credit on your bill. Promissory notes must be signed and submitted to the Office of Student Finance. Entrance counseling and promissory notes are mailed along with the Student Aid award letter to each eligible student. If you have not received the appropriate entrance counseling and promissory note(s), please contact us immediately (phone or visit us). Be sure to keep your mailing address current on MYYU.

    Parent Loan (PLUS)

    To apply for the PLUS loan please click here. 

    All PLUS borrowers, please read through all of the PLUS loan information below. Under the William D. Ford Federal Direct Loan Program (Direct Loan), the funds for your loan come directly from the federal government.

    Basic PLUS Loan Information:

    To help meet the costs related to funding your education, your parent(s) may consider applying for a Federal PLUS loan. The PLUS loan offers a fixed interest rate, and allows parents to borrow up to the cost of attendance less any other financial aid.

    Parents have a choice to defer payments on a PLUS loan until 6 months after the date the student ceases to be enrolled at least half time! If you would like to opt for the deferment, you will need to notify your chosen PLUS lender! If you do not notify your lender, you will enter repayment 60 days after the final disbursement.

    A 2013-2014 FAFSA must be filed before a parent can apply for a PLUS loan!

    Credit Requirements:

    Unlike the Federal Stafford loan, the Federal PLUS loan requires a credit check. To be eligible to borrow the PLUS loan, your parent's credit report cannot reflect any of the following:

    • Currently 90 days or more delinquent on repayment of any debt, not including mortgage payments or medical bills.
    • Currently no more than 180 days delinquent on a mortgage payment on their primary residence or medical bills.
    • Debt discharged in bankruptcy during the past five years
    • Evidence of a default, foreclosure, tax lien, repossession, wage garnishment, or write-off of a Title IV debt during the past five years.

    If your parent(s) do not qualify for this loan based on the credit criteria outlined above, they may still receive the loan with an endorser, who will be subject to the same credit criteria.

    Interest Rate: 6.41%

    Fee: A 4.288% fee is deducted from the amount borrowed.

    Example: A $10,000 Parent PLUS loan will net $9,572. Please keep this fee in mind while calculating the actual net amount needed.

Yeshiva University
500 West 185th Street
New York, NY 10033
212.960.5400

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