Here are two hypothetical aid package examples to illustrate how we meet demonstrated financial need for eligible applicants at Harvard Law School for 2022-2023. Students with demonstrated need above the grant eligibility threshold ($50,000 for 2022-23) are awarded an HLS Grant to meet their need above the grant eligibility threshold, and are able to meet their need up to the threshold using student loans. Students with demonstrated need below the Grant Eligibility Threshold are able to meet their financial need using student loans. All students can borrow to exceed their demonstrated need if needed (for example, to replace the family resource calculation) up to the total cost of attendance (or “student budget”).
|ELIGIBLE FOR HLS GRANT AND STUDENT LOANS||ELIGIBLE FOR ONLY STUDENT LOANS|
|(need greater than $50,000)||(need less than $50,000)|
|Standard Student Budget||$107,000||$107,000|
|minus||Student Resource Calculation||$5,000||$10,000|
|minus||Parent Resource Calculation||$18,000||$48,000|
|minus||Grant Eligibility Threshold||$50,000||$50,000|
|equals||Financial Aid Need||$34,000||$0|
|Aid Package||Aid Package|
|HLS Grant Eligibility||$34,000||$0|
|plus||Student Loan(s) from Harvard Law School Based on Demonstrated Need||$10,000||$0|
|equals||Total Aid Package Based on Demonstrated Need||$44,000||$0|
|plus||additional Student Loan borrowing* (optional)||up to $63,500||up to $107,000|
|equals||Total Financial Aid Eligibility||up to $107,000||up to $107,000|
* Remember: Student Financial Services awards financial aid to meet the level of need demonstrated by the student and parent resource resource calculation, less the grant eligibility threshold. If your parents will not be contributing to your education expenses, it is possible to borrow in replacement of the entire parent resource calculation amount through a supplemental education loan program, up to the limit of the total cost of attendance (or “student budget”).
It is also possible to borrow to replace all or a portion of the student resource calculation, but borrowing to replace the student resource calculation is not eligible for future loan repayment assistance through LIPP.
The upper limit on optional student loan borrowing is the Student Budget; in other words, your total financial aid cannot exceed your approved budget.