SLC.edu / Offices and Services / Financial Aid / Graduate / Online Loan Filing

Graduate Online Loan Filing

The Office of Financial Aid has established processing protocols with our most frequently used lenders for Federal Stafford and PLUS loans. These lenders offer competitive borrower benefits and flexible repayment options.

By selecting one of the following lenders, you can fill out an online loan application, which allows the lender to prepare your file in advance of receiving our certification of your loan, thus expediting the approval process. Lenders are added or removed based upon feedback from prior borrowers and the annual review of lender attributes by Sarah Lawrence staff, faculty, and students. Click here for further information about the selection process.

Below are links to lenders who offer electronic processing. You may choose any lender that participates in educational lending. Just e-mail the name, lender code, and address of any lender not listed below to finaid@sarahlawrence.edu.

A List

The College Board has decided not to continue in the student loan business. Anyone who borrowed from the College Board education loan program may continue their borrowing with SLMA Educational Trust. It will not be necessary to sign a new Master Promissory Note with this lender.

Those who wish to change to another lender should email finaid@sarahlawrence.edu and indicate the name of the new lender. It will be necessary to sign a new Master Promissory Note (MPN)with the new lender.

Students Filing Stafford Loans

If you're a Sarah Lawrence graduate student with a financial aid award that includes a Stafford Loan, simply send an e-mail to finaid@sarahlawrence.edu (including your full name, the last four digits of your Social Security Number, and the name of your lender) for electronic processing and certification of your loan. Be aware that in doing so, you accept the financial aid award offered to you by Sarah Lawrence College.

Please note: If you decide to use a lender not listed on this page, please download the Student Certification and Statement form, fill it out completely (providing the lender's name and address) and mail or fax it to:

Financial Aid Office
Sarah Lawrence College
One Mead Way
Bronxville, NY 10708
Fax: (914) 395-2676

If you have never taken a Stafford Loan before (while at SLC), you must also complete an Entrance Interview form. You may complete this requirement by visiting http://www.mappingyourfuture.org/. Or, come to the Financial Aid Office as soon as possible upon arrival on campus to complete the form in person. Loan funds will not be disbursed without a completed Entrance Interview on file.

If you are a returning student and have taken Federal Stafford Loans in your previous years, we strongly recommend that you use the same lender from whom you took your previous loan(s).We will assume you want the Stafford Loan(s) as offered in your award letter unless you notify us that you wish to decline the Stafford Loan, take a lesser amount, or change your choice of lender.

Applying for an Alternative Loan

After considering all the resources available through the Office of Financial Aid, we recognize that you may still need further assistance from an alternative loan product. We recommend the following alternative loans based upon their responsiveness and customer service provided to Sarah Lawrence families.

Please apply to one alternative loan program only.

Need more information about borrowing?

Visit http://studentloanlistings.com, The Greentree Gazette's online listing of student loan options.

Glossary of Lending Terms

Below is an abbreviated glossary of terms used by lenders.

  • Loan terms: Graduate students may borrow $20,500 per academic year from the Stafford/Direct educational loan programs. Students who show need derived from the Free Application for Federal Student Aid (FAFSA), may borrow up to $ 8,500 from the subsidized portion and $12,000 from the unsubsidized portion of the Stafford/Direct educational loan programs. Those who do not have need as determined by the FAFSA may borrow the entire amount from the unsubsidized portion of the Stafford /Direct loan program. A subsidized loan means that the federal government pays the interest rate that accrues while the student is enrolled in school. An unsubsidized loan means that the student borrower must make interest payments on the amount of the loan in use while the student is enrolled in school.
  • APR: annual percentage rate calculates the cost of borrowing money. It includes the annual interest rate, insurance and origination fees associated with lending money.
  • Loan fees: fees added to the amount borrowed to cover the lender’s expenses for lending.
  • Minimum monthly payment: the lowest amount you are required to pay each month during the repayment period.
  • Grace period: the time between the end of enrollment (graduation, leave of absence, less than half time enrollment, or withdrawal) and when repayment begins. No payments are required during the grace period.
  • Total repayment amount: the amount you borrowed plus the accrued interest.
  • Repayment date: the day following the end of the grace period.
  • Disbursement dates: the date the lender expects to send your loan amount to the college.
  • Borrower benefits: special interest rates, incentives, or terms offered by an individual lender. These benefits may lower your payments or reduce your cost of borrowing.
  • Consolidation: combining all your loans into one new loan. You will make one payment to one lender. A consolidation loan has its own terms and conditions. Loan consolidation makes repayment easier if you have more than one federal educational loan. It combines all your eligible loan obligations into a one new loan with one monthly payment. It may also lower your monthly payment. If you choose to do so, you may be able to extend your repayment schedule beyond the 10 year standard. The interest rate on a consolidation loan is fixed and the rate cannot exceed 8.25 percent.
  • Capitalization: adding unpaid accrued interest charges to the principal balance of a loan.
  • Interest Rate: the rate at which interest accrues on a loan or cost of borrowing money.
  • Loan type:
    • Graduate PLUS
      Allows graduate or professional students to borrow the difference between the total cost of college and any financial aid offered.
    • Private Educational loans
      Are offered by individual lenders to meet the gap between the cost of college and any financial aid offered. They are not subject to any government regulations (at least at the time of this writing).
  • Servicer: some lenders “sell” educational loans to a servicer. This third party company becomes responsible for collecting and processing payments for that lender.
  • Deferment: you may qualify to defer making payments for a specified period of time. For a subsidized loan, the interest does not accrue because the government pays it on behalf of the borrower. Typical deferments are:
    • Enrollment in undergraduate or graduate school
    • Person with a disability enrolled in a qualifying rehabilitation program
    • Unemployment
    • Economic hardship
    • Military service
  • Forebearance: is granted by the individual lender. This allows the borrower to not make payments during the forebearance period however interest does accrue. Borrowers should apply for a deferment before considering a forebearance.
  • Delinquency: if you do not make the required payment by the due date. It also includes the period of time before a loan goes into default. It indicates that the borrower has failed to make payments or contact the lender for a deferment.
  • Default: the borrower fails to begin repayment (delinquency) or arrange a deferment or forebearance 270 days after repayment is scheduled to begin.