Alternative Financing Options for Graduate Students

If financial aid doesn’t cover the whole cost of your graduate program, you have additional options to manage your contribution and bring a Stevens education within reach. Like any major investment, you can finance a Stevens education over time with payment plans or by borrowing private student loans, if necessary.

​Payment Plans

With our interest-free installment payment plans, you can make smaller, more affordable payments instead of paying your Stevens bill in one large lump sum.

What Payment Plans Does Stevens Offer to Graduate Students?

Managed by the Office of Student Accounts, Stevens offers an interest-free payment plan with a nominal enrollment fee. Payment plans for our students are offered in four or five monthly installments, due on the following timelines for each semester:

  • Fall semester payments are due in July or August, September, October and November

  • Spring semester payments are due in December or January, February, March and April

  • Summer term payments start in May and end in August

  • Participating Employer Tuition Assistance Programs

    If your employer offers a pre-paid tuition assistance program, you must obtain the appropriate paperwork from your employers and send the signed tuition voucher or letter of credit to the Student Service Center. For more information, please see the Office of Student Accounts website.

Private Loans

We strongly recommend that all eligible students apply for federal financial aid and plan to use all offered federal grants and loans before you decide to borrow private student loans. The best time to decide whether to apply for private loans is after you have been accepted to Stevens, applied for aid and received your aid letter from our financial aid office.

What are the Differences Between Federal and Private Loans?

  • Federal loans usually offer better terms, like lower interest rates and more flexible repayment programs, which is why we recommend you accept any offered federal aid before borrowing private loans.

  • Private loan companies usually conduct a more extensive credit check.

  • Private loans can by used to pay a previous semester’s bill. Federal loans do not allow this.

You may view the Direct Loan Overview to learn more about federal loans.

How Do I Find and Apply for a Private Student Loan?

  1. Know your cost of attendance and subtract any financial aid you have already received. Any private loans you apply for cannot exceed this amount.

  2. Visit the Historical Lender List to compare rates, terms, and repayment plans. These are lenders that Stevens students have used in the past. You can borrow from lenders not on this list as well. Stevens Institute of Technology and its staff members do not endorse these lenders or receive any compensation from the lenders on our list.

  3. Complete the lender’s application and self-certification form online at the lender’s website, along with any other of the lender’s requirements.

  4. When your loan is approved, the lender will notify Stevens and we will credit your bill with the loan amount.

Should I Consider Loan Consolidation?

Options also exist for consolidating your private student loans into one monthly payment. Learn more about the pros and cons of loan consolidation

Are Private Loans Available for International Students?

Most federal and private lenders require you to be a U.S. citizen or permanent resident, but some options do exist for international students.*If you plan to cancel or reduce a private loan that has been certified by Stevens you must inform the Office of Financial Aid immediately.

Who Can I Contact for More Help?

We want to do all that we can to make Stevens as affordable as possible. We’re here to help answer your questions about covering your contribution and making the best decision for your situation. Several offices are here to assist you:The Office of Financial Aid is available to meet with you for financial aid counseling during regular business hours; no appointment is necessary. Please let us know if you require an appointment outside of these hours and we will work with you to meet at a more convenient time.

The Office of Financial Aid
1 Castle Point Terrace
Hoboken NJ 07030
p. 201.268.5406

Additionally, the Office of Student Accounts exists to provide you with a high level of customer service when it comes to paying your Stevens bill and can assist you with questions regarding payment plans, e-billing, payment methods, refunds and all student-related account information. Office of Student Accounts
The Student Services Center, Howe Center Lobby
1 Castle Point Terrace
Hoboken NJ 07030
p. 201.268.5406