Loans on this list are available to all HLS International Students (J.D., LL.M., and S.J.D.). Important: J.D. students with further questions about the Preferred Lender List may contact J.D. Student Financial Services, and LL.M and S.J.D. students may 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. 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 U.S. 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 the loan programs on the Preferred Lender List.
We 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. International J.D. students may want to review our page with Additional Loan Information for International J.D. Students.
For the current academic year of 2022-23, the last day you can submit an application to the lender of your choice is Friday, April 14, 2023.
Please note that if you are interested in applying for a College Ave Loan, have a non-US IP address, and are unable to complete your loan application, you may need to access the application through a VPN. You may access the application by utilizing the HLS VPN link.
Preferred Lenders at a Glance for the 2022-23 Academic Year
This is 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. Students attending HLS may choose any loan program and 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.
| HARVARD UNIVERSITY EMPLOYEES CREDIT UNION (HUECU) | COLLEGE AVE STUDENT LOANS | |
| How to Apply | Lender Website | Lender Website |
| Type | Private | Private |
| Interest Rate for 10 Year Loan Term | 5.15% Fixed through 4/14/2023 thereafter the rate will be 6.5% | 4.65% Fixed |
| Origination Fee | None | None |
| Estimated Repayment Cost per $10,000 Disbursed* for 10 Year Loan Term, No Cosigner | $15,016 | $14,465 |
| U.S. Cosigner Requirement | None (0.5% interest rate reduction for qualified cosigner) | None |
| Repayment Term | 10 year, 5 year, or 15 year repayment terms available, no penalty for early repayment 4.75% fixed rate through 4/14/2023 thereafter the rate will be 6.25% for all borrowers selecting a 5 year repayment term 5.75% fixed rate through 4/14/2023 thereafter the rate will be 7.0% for all borrowers selecting a 15 year repayment term | 10 year repayment term. No penalty for early repayment. |
| Annual Loan Limits | $107,000 for J.D. Program students For LLM/SJD student loan limits, contact the HLS Graduate Program $1,000 minimum loan amount | 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 |
| Deferment | 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 Interest accrues during any deferment | Principal and interest payments deferred while student is in school Additional deferment of up to 12 months for judicial clerkship available 9 month grace period following in-school deferment Interest accrues during any deferment |
| Forbearance | 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 | 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 |
| Eligible for J.D. LIPP Assistance? | Yes, for a minimum loan term of 10 years and subject to each borrower’s LIPP eligible borrowing limit | Yes, for a minimum loan term of 10 years and subject to each borrower’s LIPP eligible borrowing limit |
| Ineligible Borrowers | Students from OFAC Sanctioned Countries | Students from OFAC Sanctioned Countries |
* 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 International 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 2022. 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 2022-23 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.