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Two students sit at a table and look down

Credit: Tony Rinaldo

To help students evaluate loan programs available to fund the cost of attendance, Harvard Law School has developed a Preferred Lender List that we believe offers competitive pricing, good borrower benefits and strong customer service.

Loans on this list are available to U.S. citizens and legal permanent residents enrolled in any HLS degree program (J.D., LL.M., and S.J.D.). Important: J.D. students with further questions about the Preferred Lender List should contact J.D. Student Financial Services, and LL.M and S.J.D. students should contact the Graduate Program Financial Aid Office.

Students attending HLS may choose any loan program and are not required to borrow from the lenders on the Preferred Lender List. U.S. citizens and legal permanent residents may qualify for federal student loans and the terms and conditions of these federal funds may be more favorable than the terms and conditions of private education loans. Students from OFAC Sanctioned Countries may not be eligible for these loan programs.

We recommend that J.D. students review the “How Do I Choose A Loan Program?” page before applying for a loan. Additionally, J.D. students from Canada may also wish to review Canadian loan information for J.D. students.

Preferred Lenders at a Glance

A quick guide to the highlights of each loan program. Although we have attempted to provide accurate information, borrowers should review and verify the exact terms, conditions, qualifications, and disclosures associated with any loan product with the lender.

Federal Direct Unsubsidized Loan Federal Direct GradPLUS Loan College ave student loans Harvard University Employees Credit Union (HUECU)
How to Apply Submit Adjustment Form Via SFS Portal Application Instructions Lender Website Lender Website
Interest Rate for 10 Year Loan Term

6.1% Fixed

7.1% Fixed

5.95% Fixed

5.5% Fixed

Loan Fees

1.062%

4.248%

None

None

Estimated Repayment Cost per $10,000 Disbursed* for 10 Year Loan Term, No Cosigner

$16,275

$18,042

$15,929

$15,411

Repayment Term Multiple repayment options available; view full program details below for more information Multiple repayment options available; view full program details below for more information 10 year repayment term. No penalty for early repayment. 10 year or 5 year repayment term options for fixed rate loan. 15 year term available for “hybrid” fixed/variable rate loan. No penalty for early repayment.
Annual Loan Limit $20,500 (if more than limit desired, may borrow through a second loan program) School-approved cost of attendance
  • School approved cost of attendance for J.D. Program students
  • For LLM/SJD student loan limits, contact the HLS Graduate Program
  • $1,000 minimum loan amount
  • $99,200 for J.D. Program students
  • For LLM/SJD student loan limits, contact the HLS Graduate Program
  • $1,000 minimum loan amount
Deferment
  • Principal and interest payments deferred while student is in school
  • Additional deferment for continued education, military service, service in various volunteer programs, VISTA, Peace Corps
  • Principal and interest payments deferred while student is in school
  • Additional deferment for continued education, military service, service in various volunteer programs, VISTA, Peace Corps
  • Principal and interest payments deferred while student is in school
  • 9 month grace period following in-school deferment
  • Additional deferment of up to 12 months for judicial clerkship available
  • Principal and interest payments deferred while student is attending Harvard at least half-time, or for 48 months, whichever is less
  • 6 month grace period following in-school deferment
Forbearance Up to 36 months during the life of the loan; can be used during a judicial clerkship Up to 36 months during the life of the loan; can be used during a judicial clerkship At lender’s discretion in cases of financial hardship, may be granted for up to 12 months (in either 3 or 6-month increments); can be used during a judicial clerkship; additional forbearance may be available at lender’s discretion At lender’s discretion, up to 12 months during the life of the loan; can be used during a judicial clerkship; additional forbearance may be available at lender’s discretion
Eligible for J.D. LIPP Assistance? Yes, for a minimum loan term of 10 years and subject to each J.D. borrower’s LIPP eligible borrowing limit Yes, for a minimum loan term of 10 years and subject to each J.D borrower’s LIPP eligible borrowing limit Yes, for a minimum loan term of 10 years and subject to each J.D borrower’s LIPP eligible borrowing limit Yes, for a minimum loan term of 10 years and subject to each J.D borrower’s LIPP eligible borrowing limit

* This estimated repayment cost was calculated by HLS Student Financial Services based on a single disbursed amount of $10,000 repaid over a 10-year term, with loan fees added to the amount borrowed, and interest accrued during a 40-month in-school deferment and grace period capitalized (added to the outstanding principal) when repayment begins. Because lenders may use different assumptions about deferment and disbursement, these estimates may differ from repayment cost estimates provided by the lenders under Truth in Lending Act (TILA) requirements.

The table above provides a quick overview of preferred lender programs. To review the full loan program details, see the Preferred Lender List for Domestic Students (PDF).

Other Important Information

The private lenders on the Preferred Lender List are not affiliated with each other or with Harvard University. The private lenders on the list were selected through a Request for Proposal (RFP) process conducted in January 2019. The RFP was posted on the Massachusetts Association of Student Financial Aid Administrators (MASFAA) listserve which includes both local and national lenders. A committee including members of Harvard Law School Student Financial Services and members of the Harvard Central Financial Administration evaluated the RFP responses. In choosing the lenders and loan products for the Preferred Lender List, proposals were evaluated based on competitiveness of interest rates and fees, borrower benefits, deferment and forbearance provisions, and customer service. You can view the RFP request and a description of the 2019-20 Preferred Lender List Selection Process.

The Higher Education Opportunity Act of 2008 (HEOA) requires institutions participating in the federal student loan programs develop, publish and enforce a code of conduct with respect to student loans. Harvard University is committed to the highest standard of ethics and conduct. Financial aid staff are bound to the conflict of interest and commitment policies applicable to Harvard employees.  Additionally, to comply with the HEOA, Harvard has adopted the federally mandated Code of Conduct to address specific legislative concerns relating to educational loan programs.

Lenders of private education loans are required to collect from all borrowers a completed and signed Private Education Loan Applicant Self-Certification Form prior to disbursing the loan. Individual lenders should have copies of this form on their websites and typically have implemented their own procedures for collecting the form as part of the loan application process. We recommend contacting your lender directly if you have specific questions about the process for submitting this form.