Information for Prospective Private Loan Borrowers

Private Loan Self-Certification Form

Effective February 14, 2010, 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. Private education loans include all Alternative Loans, as well as certain loans issued by Harvard University directly.

Individual lenders should have copies of this form on their websites and many have implemented their own procedures. We recommend contacting your lender directly with specific questions about the process for submitting this form. Recipients of Harvard Loan funds will complete the Private Education Loan Applicant Self-Certification process as part of the promissory note e-signature process.

To complete the Self-Certification Form, information such as the period of enrollment covered by the loan, the total cost of attendance and estimated financial assistance are needed. When reporting estimated financial assistance, do not include the amount of the loan for which the self-certification form is being completed. Borrowers who need assistance completing the form should contact their school financial aid office.

Historic Prime and LIBOR Rates

Many of the private loans available to students are variable rate loans based upon the Prime or LIBOR Rates. Contact the lender directly to confirm the current interest rate and margin for specific loans. 

Code of Conduct

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 students 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 following federally mandated Code of Conduct to address specific legislative concerns relating to educational-loan programs.

Department of Education, HEOA Website 
The Higher Education Opportunity Act (Public Law 110-315) (HEOA) enacted August 14, 2008 
Federal Register:  HEOA Final Regulations enacted October 28, 2009

For more information contact: 
Harvard University
University Financial Aid Liaison Office
1350 Massachusetts Avenue
Cambridge, MA 02138