Federal Student Loans

Direct unsubsidized loans are available through the Federal Direct Student Loan Program (FDSLP). To qualify, a student must first complete the Free Application for Federal Student Aid (FAFSA) and meet all federal requirements for eligibility. At the end of the FAFSA, you will need to sign the document with a FSA ID ( Federal Student Aid ID) and list the correct School Code (002785) in order for NYU to receive your information. As a law student, you are not required to report parental information on the FAFSA.

After you complete the FAFSA, you will receive a copy of your Student Aid Report (SAR) which will summarize the information you provided on the FAFSA as well as give you your Expected Family Contribution (EFC) number. This information is then used to determine your eligibility for federal student aid.

The steps for completing a FAFSA as well as an instructional video can be found at on the main NYU Financial Aid website.

Finally, be sure to familiarize yourself with all loan terms before borrowing.  Interest rates on new loans under the Federal Direct Loan Program are now indexed to the financial markets and may be adjusted each spring for the following award year.  Please visit the U.S. Department of Education's website for more information about interest rates on federal student loans.

Graduate PLUS Loans

If additional loan funding is needed to cover the cost of attendance, eligible students have the option of applying for a Direct Graduate PLUS loan. In order to qualify, students must complete the FAFSA and meet all federal eligibility requirements. If you meet federal requirements, you may borrow Graduate PLUS loan funds up to the cost of attendance (less any other financial aid).

Unlike the Direct Unsubsidized Loan, the Graduate PLUS loan is approved based on a student's credit. A credit check is required to determine whether the applicant has any adverse credit history (according to federal guidelines, adverse credit history means no past-due payments, charge-offs, or collections in the past 90 days).  It is critical that students seeking to apply for credit-based loans such as the Graduate PLUS loan maintain their credit.  If you have an adverse credit history, you may apply with a co-signer on the Graduate PLUS loan application.  NYU cannot process a Graduate PLUS loan for an applicant who is credit denied or who fails to appeal or is unsuccessful in appealing a credit denial.  It is the loan applicant's full responsibility to ensure that all steps in the loan application and/or credit denial appeal process are completed.

The Graduate PLUS loan does not have a grace period. Instead, it has a post-enrollment deferment period which acts  in the same way as a grace period. Interest accrues from the time the loan is disbursed much like the Direct Unsubsidized Loan.

Finally, be sure to familiarize yourself with all loan terms before borrowing.  Interest rates on new loans under the Federal Direct Loan Program are now indexed to the financial markets and may be adjusted each spring for the following award year.  Please visit the U.S. Department of Education's website for more information about interest rates on federal student loans.