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In this step we help you:

  • Review and understand the loans you have been offered
  • Know the amount you can borrow and when to take action on your loan applications
  • Understand how these loans are used to pay your student account
  • Learn when a disbursement for living expenses (if eligible) will be generated

Review and Understand Your Award

Review and Understand Your Award

  • Domestic Students will see one of two awards

    Login into the SFS portal and review your award in Budget & Award.
    HLS grant recipients will see:
    • an HLS grant
    • a 5% Unsubsidized HLS loan of $4000 (offered, not required – if you choose to cancel this loan, the amount of $4000 must be borrowed through some other student loan program)
    • a Required Base loan of $45,000 (any student loan of your choosing)
    • a Maximum Additional Borrowing for varying amounts depending on eligibility (any student loan of your choosing)
    Loan only recipients will see
    • a Maximum Borrowing Eligibility fund which equals the amount of their student budget.

    All students may choose to borrow through one or several student loan programs up to the total amount of their student budget minus any scholarships or grant funding.

     

  • International Students will see one of two awards

    Login into the SFS portal and review your award in Budget & Award.

    HLS grant recipients will see

    • an HLS grant
    • a 5% Unsubsidized HLS loan of $4000 (offered, not required – if you choose to cancel this loan, the amount of $4000 must be borrowed through some other student loan program)
    • a 6% Unsubsidized HLS loan of $20,500 (offered, not required – if you choose to cancel this loan, the amount of $20,500 must be borrowed through some other student loan program)
    • a Required Base loan of $24,500 (any student loan of your choosing)
    • a Maximum Additional Borrowing for varying amounts depending on their eligibility.

    Loan only recipients will see

    • a Maximum Borrowing Eligibility fund which equals the amount of their student budget.

    All students may choose to borrow through one or several student loan programs up to the total amount of their student budget minus any scholarships or grant funding.

Know Your Eligible Borrowing Amount

Know Your Eligible Borrowing Amount

  • Your Student Budget Maximum

    Your student budget establishes the annual limit on the amount of financial aid (grants and loans from all sources) available to you. Some students choose to live under the budget and borrow less while others use a combination of resources that add up to the maximum amount of their budget.

    Keep in mind that if you are borrowing from a loan program that deducts fees prior to disbursement, you may increase your loan by the amount of the fees and we will increase your budget for this expense.

  • Your LIPP Eligibility

    If you are interested in LIPP, pay attention to your maximum LIPP eligible borrowing amount and try not to borrow more than that amount. Your maximum LIPP eligible borrowing amount is listed on your Budget & Award screen in the Your LIPP Borrowing Eligibility and Formula section of the SFS Portal.

  • Number of Disbursements per Academic Year

    Be certain to borrow the amount you will need for the entire academic year. All loans will disburse directly to  your student account in two equal installments; one each semester. Therefore, if you decide that you do not need or want to borrow as much as you initially thought, you should complete our loan transaction form. Loans can be adjusted throughout the semester.

Take Action on Your Loan Application(s)

Take Action on Your Loan Application(s)

  • Harvard Law School Loan (5% and/or 6%)

    LOAN TYPE ELIGIBILITY AMOUNT ACTION STEP DEADLINES
    Unsubsidized Harvard Law School Loan 5% All HLS Grant Recipients $4,000    In some cases, students with dependents will receive additional HLS loan funding at a 6% rate None until you are notified by SFS in late August/early September 2018 September 14, 2018
    Unsubsidized Harvard Law School Loan 6% All International HLS  Students $20,500 None until you are notified by SFS in late August/early September 2018 September 14, 2018

    You are not required to borrow through the HLS loan programs in order to meet your base loan requirement.  You should compare loan interest rates and terms and determine which loans are best for you.  Should you decide to cancel one or more HLS loans, you’ll need to complete a loan transaction form. HLS grant recipients are required to borrow a minimum of $49,000, therefore, any HLS loan amount that is cancelled, will need to be borrowed through some other education loan resource in order to meet the minimum loan requirement.

  • Required Base Loan

    To be eligible for HLS Grant, you are required to borrow a “Base Loan” minimum of $49,000 in your name from one or more educational lenders of your choice.

    The Remaining Required Loan fund is a place holder.  Once you choose the loan program through which you’d like to borrow, we will remove this fund and list your specified loan fund.

    LOAN TYPE ELIGIBILITY AMOUNT ACTION STEP DEADLINES
    Required Base Loan All HLS Grant Recipients total of $49,000 minus any HLS loans you’ve been offered in your financial aid award and will not decline Complete a student educational loan application of your choosing and all additional documents required by the lender. August 1, 2018

    Students who will also borrow beyond the Required Base loan amount, may take one loan for the total amount they’d like to borrow up to the maximum amount of their student budget.

  • Maximum Borrowing or Maximum Additional Borrowing

    The Maximum Borrowing or Maximum Additional Borrowing fund is a place holder.  Once you choose the loan program through which you’d like to borrow, we will remove this fund and list your specified loan fund.

    LOAN TYPE ELIGIBILITY AMOUNT ACTION STEP DEADLINES
    Maximum Borrowing (loan only students)

    or

    Maximum Additional Borrowing (HLS grant recipients)

    All Students Student budget minus other aid Complete a student educational loan application of your choosing and all additional documents required by the lender August 1, 2018

    Students may combine the Required Base loan amount and any remaining or additional borrowing they’d like into one loan application not to exceed the maximum amount of their student budget.

Understand How Your Loans Apply to Your Student Account

Understand How Your Loans Apply to Your Student Account

  • Deadlines and Their Implications

    If you apply for your loan funds by July 16th, your loan will be processed in time to be reflect as an anticipated financial aid credit on your first account notice issued July 25th. If you apply between July 16th and August 1st, the loan will appear as an anticipated credit on your August account notice.

    Applications received after August 1st will be processed daily and can be used towards your outstanding balance in lieu of payment. If all of your financial aid is not in place by August 22nd, 2018 you could be placed on financial hold which blocks your ability to register, add or drop classes, receive a cash advance, and you may incur a late payment fine of $250.

  • Living Expenses Disbursements

    If your anticipated financial aid credits exceed the amount of your total account charges, you will be eligible for a fall cash advance for living expenses. A cash advance is money that the University advances to you, interest free, based on the fact that you will soon have loans and/or grants that will disburse to your student account.

    Eligible students who have all of their financial aid in place and who have signed up for direct deposit by August 20th, 2018 will receive a direct deposit on August 31st. Students without direct deposit will receive a paper check during the week of September 1st via normal postal services schedules.

    Students who receive a cash advance should budget the funds for living expenses for the entire fall semester and half of January 2019. Spring term cash advances will be disbursed no later than December 21, 2018. See the Cash Advances & Refunds section of our web site for more details.

Start the Loan Application Process

Start the Loan Application Process

  • How Do I choose a loan Program?

    The information in this section covers many of the factors you should consider in evaluating your loan options. Remember that choosing a loan program is a personal decision; only you know how important each factor is to you. Harvard Law School, like all of Harvard University, has no financial interest in your choice of lender nor are we permitted to recommend a particular loan program.

  • Begin the Loan Application Process

    All HLS students have access to various loan programs that have competitive rates and benefits; the details of which you can find on our Student Loans pages.