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Harvard Law School loan funds have the following program features:

  • Fixed interest rate 5.0% or 6% depending on need (other rates between 5 and 7% are for summer funding)
  • Funding is unsubsidized (summer loan is subsidized)
  • No loan fees, no separate application
  • One Master Promissory Note for all three years of law school
  • Six-month grace period (repayment begins in the seventh month following the last day of of enrollment at HLS)
  • Ten-year repayment period ($50 minimum monthly payment), no cumulative debt limit
  • Deferment and forbearance provisions similar to the Direct Unsubsidized Loan Program
  • Cancellation due to death or permanent disability available

Additional Application Requirements:
In order to accept the HLS loan, the student must sign an electronic master promissory note. A master promissory note generally only needs to be signed once during your time at HLS, and future HLS loans can be disbursed based on the original promissory note as long as the terms of the note does not change. If you are awarded an HLS loan, you will be notified, via e-mail,when your promissory note is available for you to sign – usually in late August or early September.  Your Harvard Law School Financial Aid application gives us the authority to award you these funds and no separate loan application is needed.