Interest Rate:  5% fixed

Original Grace Period:  9-month grace period that begins on the day after you cease to be registered as at least a half-time student. 

Post-Deferment Grace Period:  6-month grace period following most deferments.

Late Charge:  A late charge may be assessed if you fail to:  (1) make an installment payment when due or (2) file timely evidence of entitlement to deferment.  This charge may not exceed 20% of the principal and interest overdue at the time the charge is calculated.

Deferment Options:  Full Time Study, Half time study, Fellowship, Full Time Armed Forces

Cancellation Options:  Teacher-   Low-Income School Teacher (Title I), Special Education Teacher, Teacher in a Field of Expertise (shortage area), Early Intervention, Head Start Teacher, Speech-Language Pathology Service Cancellation

Public Service-  Nurse or Medical Technician, Child or Family Services, Law Enforcement, Corrections Officer, Prosecuting Attorney, Fire Fighter, Tribal College/University, Librarian, Active Military Duty, Volunteer (AmeriCorps, VISTA)

Harvard College and each of the graduate and professional schools determine the terms of the loans they make.
 
Interest Rate:  The interest rate is fixed and varies depending on the school.  Your promissory note will indicate the interest rate for your particular loan program.
 
Original Grace Period:  6-month grace period.  Subsidized loans begin to accrue interest upon expiration of the grace period.  Unsubsidized loans begin to accrue interest on the date the loan is disbursed.  Your promissory note will indicate the loan type.
 
Post-Deferment Grace Period:  6-month grace period following most deferments.
 
Deferment Options: Full time study, Half time study, Fellowship, Full time service in Peace Corp or Vista, Full time volunteer in Tax Exempt Family Service Organization, Full time National Oceanic & Atmospheric Administration, Full time Armed Forces, Full time Public Health Service

Internship/Residency Deferment: For Undergraduate loans, interest is subsidized.  For Harvard Medical School loans, interest will continue to accrue and is payable monthly or may be capitalized (added to the principal balance) at the end of the post-deferment grace period.

Interest Rate:  5% fixed

Original Grace Period:  12-month grace period that begins on the day after you cease to be registered as a full-time student. 

Post-Deferment Grace Period:  NO

Late Charge:  A late charge will be assessed if your loan becomes more than 60 days past due and you fail to (1) make an installment payment when due or (2) file timely evidence of entitlement to deferment.  This charge may not exceed 6% of the principal and interest overdue at the time the charge is calculated. 

REMINDER:  We cannot backdate deferment requests for HPSL/LDS loans.  Please submit your deferment request at least 30 days PRIOR to the beginning of the requested deferment period.

Deferment Options: Full time study, Internship/Residency, Fellowship, Full time service in Peace Corp, Full time National Oceanic & Atmospheric Administration, Full time Armed Forces, Full time Public Health Service

Interest Rate:  The interest rate is calculated two months prior to the expiration of the grace period and cannot exceed 7%.

Original Grace Period:  6-month grace period on your Wolfson loan begins on the day after you cease to be registered as at least a half-time student.

Post Deferment Grace Period:  NO

Deferment Options:  Full time study, Half time study, Internship/Residency/Fellowship (combined maximum of 54 months), Full time service in Peace Corp or Vista, Full time volunteer in Tax Exempt Family Service Organization, Full time National Oceanic & Atmospheric Administration, Full time Armed Forces, Full time Public Health Service