Financial Aid Office

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.

View and Compare Recommended Lenders

(students are not limited to this list)

Some Information on Applying for Private Alternative Loans:

• Unless you have an established credit history you will likely need a cosigner to apply with you. It is in your best interest to secure a cosigner before completing a loan application. Multiple applications may result in multiple inquiries on your credit report.

• If you need a private loan for both the fall and spring semesters it is strongly recommended that you only apply for the loan once and request enough for both terms. We can always decrease the loan for you if necessary. Applying separately for fall and spring may result in multiple inquiries on your credit report and the credit report of your cosigner.

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:

• What is the interest rate on the loan? Is it variable or fixed?
• Will I need a co-signer?
• What fees are associated with taking the loan (is there an origination or backend fee)?
• Will funds be disbursed electronically or by a paper check that I will need to sign?
• When does interest begin accruing and when does repayment begin?
• What will my estimated monthly payment amount be?
• What repayment options are available to me?
• If I am having difficulty making payments, what options do I have?
• How long has the lender been in business?
• Does the lender service its loans or are they sold to another lender or servicer once the loan has been disbursed to me?
• If applying at a credit union, do I have to be a member?

• General information such as repayment calculators and FAQ’s
• Review your federal loan history at StudentAid.gov