The Financial Aid Office will determine which loans to offer you, based on your citizenship status and the information on your financial aid application. Regardless of whether loans are need-based or non-need-based, your total financial aid cannot exceed the cost of attendance. You can borrow up to the cost of attendance minus any financial aid or other resources (i.e., parents, relatives, friends, employers, and other outside sources). Loans at the GSB must be used for educational purposes.

Beginning the 2010-11 academic year, the Financial Aid Office will begin participating in the Department of Education's Federal Direct Loan Program. We are making this change to comply with the Health Care and Education Reconciliation Act of 2010, which was passed by Congress and signed into law by President Obama in March, ending the Federal Family Education Loan Program (FFEL).

U.S. Citizens and Permanent Residents

U.S. citizens and permanent residents are eligible to borrow funds from the Department of Education's Federal Direct Loan Program. The government restricts these loans to students who are not in default on any previous loans and to students who do not owe a refund to any federal program. Federal loan program terms are subject to change.

The GSB Financial Aid Office allows domestic borrowers (i.e. U.S. Citizens and permanent residents) the option to choose between the Federal Plus Loan for Graduate Students or a private loan. In order to facilitate this process, your award letters will reference these funds as GSB PLUS Loan or Private Loan. Later on, you will be able to customize your own loan package by choosing to borrow from either of the two loan programs.

In addition, in order to help you in the selection process, the GSB has recommended a list of lenders that provide private educational loans to Business School students. U.S. citizens and permanent residents must first borrow the Federal Perkins Loan and Federal Stafford Loans for which you are eligible before borrowing the Federal Plus Loan for Graduate Students or a Private Loan.

International Students

International students attending the GSB will be able to apply for an educational line of credit without the need for a U.S. citizen as a co-signer.