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 apply to any student loan program. Students are not required to borrow from the lenders on the Preferred Lender List. It is possible that students could obtain better rates or terms from lenders not on this 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.
We strongly recommend that J.D. students review the “How Do I Choose A Loan Program?” page and “Learn more about Student Loans” page before applying for a loan.
For information on how to accept, reduce or cancel any of the loans that are already listed on your Budget and eligibility page of the SFS self-service portal, go to Step 3 and follow the steps outlined in “Review your loan options and take action to secure your loans” section.
Preferred Lenders at a Glance for the 2023-24 Academic Year
This is a quick guide to the highlights of each loan program. More loan program details can be reviewed by downloading the Full Program Details PDF. 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
| Loan Information | FEDERAL DIRECT UNSUBSIDIZED LOAN | FEDERAL DIRECT GRADPLUS LOAN | COLLEGE AVE STUDENT LOANS | HARVARD UNIVERSITY EMPLOYEES CREDIT UNION (HUECU) |
|---|---|---|---|---|
| Type | Federal | Federal | Private | Private |
| How to Apply | This loan is automatically included in your provisional Eligibility Notice - if qualified | Application Instructions | Lender Website | Lender Website |
| Interest Rate for 10 Year Loan Term | 7.05% Fixed | 8.05% Fixed | 5.99% Fixed | 5.75% Fixed |
| Loan Fees | 1.057% | 4.228% | None | None |
| Estimated Repayment Cost per $10,000 Disbursed* for 10 Year Loan Term, No Cosigner | $17,428 | $19,289 | $15,975 | $15,697 |
| 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, 5 year, or 15 year repayment terms available, no penalty for early repayment 5.50% fixed rate for all borrowers selecting a 5 year repayment term 6.25% fixed rate for all borrowers selecting a 15 year repayment term. |
| 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 | $111,000 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 Borrower may be eligible for up to 36 months of in-school deferment after the initial enrollment period. 9 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 | Judicial Clerkship Forbearance available for up to 12 months. At lender’s discretion up to 12 months of additional forbearance time during the life of the loan, granted and reviewed every 6 months |
| 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 Eligible for HLS PSLF-Based Plan | Yes, for a minimum loan term of 10 years and subject to each J.D. borrower’s LIPP eligible borrowing limit Eligible for HLS PSLF-Based Plan | 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 |
In addition to the federal and private loan programs listed above, some students qualify for Harvard Law School Loans. There is no application for HLS loans other than your application for need-based financial aid. Eligibility for these funds is limited and determined in the following way:
J.D. students who are eligible for HLS grant assistance also qualify for an HLS loan. Students should review the terms of this loan below and compare them to the options listed on this preferred lender list in order to make an informed decision before taking any action to accept or decline the loan via your SFS portal. (See Step 3 of the overall financial aid process for more on this).
LL.M. students from certain countries with need-based financial aid may qualify for an HLS loan. The Graduate Program will inform students of their eligibility.
| Harvard Law School Subsidized Loan | |
| Interest Rate for 10 Year Loan Term | 5% Fixed |
| Loan Fees | None |
| Estimated Repayment Cost per $10,000 | $12,728.40 |
| Deferment | Principal and interest payments deferred while student is in school 6 month grace period following in-school deferment |
| Forbearance | 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 |
* 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.
Other Important Information regarding our Lender Selection Process
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 February 2023. The RFP was posted on the Massachusetts Association of Student Financial Aid Administrators (MASFAA) listserv 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 2023-24 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