Students and parents can use any lender of their choice. Buffalo State provides a list of recommended lenders as a starting point to assist students and families in the private/alternative loan selection process. Students and parents have the right to select a lender of their choice and will suffer no penalty for selecting a lender that is not on our list. Lenders on our list have been selected for the sole benefit of the students attending our institution and have demonstrated a commitment to providing competitive loan terms, a range of eligibility requirements, innovative technology, quick loan processing, flexible repayment options, and the absolute best in customer service.
We solicited a Request for Information (RFI) from numerous lending institutions and evaluated their responses based on the above criteria to make our selection. To review each lender's disclosure statements refer to the How Lenders Were Chosen page.
(students are not limited to this list)
Some Information on Applying for Private Alternative Loans:
If you have already taken advantage of federal grants and loans and still find the need for funds, keep in mind the following tips and guidelines when selecting a lender. Always borrow conservatively and only borrow what you need. The choice of a lender is your personal decision. We strongly urge you to do your research and ask the following questions when selecting a lender:
Includes DL Stafford Subsidized / Unsubsidized and Graduate PLUS
Students that borrowed Stafford or Graduate PLUS loans under the Federal Direct Loan Program or Federal Family Education Loan Program (FFEL) are required to complete Exit Counseling when departing from Buffalo State. Exit counseling is required before students withdraw, graduate, or drop below half-time attendance (even if transferring to another school).
Students will be notified in writing at their permanent address when exit counseling is required. They will be directed to complete the session online at https://studentaid.gov (must log into website to access the counseling session). Students that do not complete it online will be mailed or emailed the materials to review and will then need to submit information back to the Financial Aid Office.
Students are strongly encouraged to complete the online session as it uses students' actual loan indebtedness information.
Alternatively, students may email the required information to finaid@buffalostate.edu. Emailed submissions must include the following 6 data elements. Students may copy and paste the following text into their emailed response and update the information accordingly.
Subject line: DL Exit
Your Personal Information
-Last Name, First Name
-Banner ID
-Address
-Telephone number
-Email address
-Driver's License or State ID Number and State (optional)
Employer (optional if known)
-Expected Employer (after leaving school)
-Address
Next of Kin: Enter your next of kin (family member) with a U.S. address different from yours, who will know your whereabouts for at least 3 years.
-Last Name, First Name
-Address
-Telephone number
References: You must list 2 persons with different U.S. addresses, who will know your whereabouts for at least 3 years.
Reference #1
Last Name, First Name
Address
Telephone number
Reference #2
Last Name, First Name
Address
Telephone number
Certification Statement
By sending this email, I certify that I have received exit counseling materials for Direct Loan borrowers. I have read and I understand my rights and responsibilities as a borrower. I understand that I have a loan from the federal government that must be repaid.
Students enter repayment on Perkins Loans nine (9) months after they cease half-time enrollment or graduate, whichever happens sooner. Students can monitor their federal student loan debt (Perkins and Direct Loans) by using the National Student Loan Database System (NSLDS). Students log in using the same credentials used for the FAFSA.
Students that borrowed Perkins Loans funds at Buffalo State must complete exit counseling when they depart from the college or drop-below half-time attendance (six credit hours). Students will be contacted by SUNY Student Loan Service Center (SLSC) instructing them how to complete the online Perkins exit counseling. Students may contact SLSC at (518) 525-2626 or slsc@albany.edu with any questions.