#  Preferred Lender List for Graduate Students: Academic Year 2026-27 

 



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Harvard University maintains the Preferred Lender List below for private education loans. These lenders offer low, fixed interest rate loans not tied to a student’s credit score and are generally available to domestic and international students up to the full cost of attendance. Students with questions about federal aid or the Preferred Lender List should contact their School’s Financial Aid Office.

Harvard encourages students to explore grant and scholarship funding before borrowing, as these do not require repayment. Students may choose any lender and are not required to use those on the Preferred Lender List; other lenders may offer more favorable terms. U.S. citizens and legal permanent residents may also qualify for [federal student loans](https://studentaid.gov/), which often have more favorable terms than private loans. Basic information on federal student loans is presented below for comparison; additional information is available from the [U.S. Department of Education](https://studentaid.gov/). In addition to the Preferred Lender List, Harvard provides a “[neutral list](/other-private-loan-options "Other Private Loan Options")” of lenders who have recently worked with students. Students should select the option that best fits their individual needs.

## Preferred Lenders at a Glance for the 2026-27 Academic Year

This is a quick guide to the highlights of the private education loan products Harvard has chosen to include on its Preferred Lender List. Harvard has also included comparable information for Federal Direct unsubsidized loans and Federal Direct PLUS loans. **A more complete summary of loan program details, including additional important information, can be reviewed by downloading the** [**Additional Program Details**](/resource/preferred-lender-list-graduate-students-additional-program-details "Preferred Lender List for Graduate Students: Additional Program Details"). Although we have attempted to provide accurate information here and in the Additional Program Details, borrowers should review and verify the exact terms, conditions, qualifications, and disclosures associated with any loan product with the lender. The 2025 One Big Beautiful Bill Act enacted changes to the Federal student loan programs, many of which will go into effect July 1, 2026. The U.S. Department of Education has yet to finalize implementing regulations and guidance for the changes; accordingly, while the below tables summarize the changes based on information available to Harvard at the time of publication, borrowers should review the latest information on the availability of Federal loans.

Harvard also provides a [decision rationale](/sites/g/files/omnuum10921/files/2026-04/PLL%20Selection%20Process%20AY26-27.pdf "Harvard University Preferred Lender Selection Process") for the Preferred Lender List highlighting key reasons why each private lender — College Ave Student Loans ("College Ave") and Harvard Federal Credit Union (“Harvard FCU”) — was chosen. Additional details are summarized below and described at length in the Additional Program Details. While Harvard considers these lender options favorable, there is no requirement to borrow from any lender on this list.

SortLoan InformationFederal Direct Unsubsidized Loan Federal Direct GradPlus LoanCollege Ave Student Loans (College Ave)Harvard Federal Credit Union (Harvard FCU)Type

Federal

Federal

Private

Private

General Eligibility for 2026-27

U.S. Citizen or Permanent Resident

U.S. Citizen or Permanent Resident who (i) was enrolled at Harvard in a program of study prior to July 1, 2026, (ii) received a Direct Loan for such program of study prior to July 1, 2026, and (iii) remains continuously enrolled in such program.

New students as of July 1, 2026 are not eligible for GradPlus Loans.

Students who remain eligible for GradPlus Loans may borrow such loans through the lesser of June 30, 2029 or the student’s expected time to credential.



Domestic and International students enrolled in a graduate degree program

Domestic and International students enrolled in a graduate degree program\*

*\*Excluding Harvard Division of Continuing Education (DCE) and Harvard Divinity School (HDS)*



Available to International Students?

No

No

Yes

U.S. Cosigner is not required



Yes

U.S. Cosigner is not required



How to Apply

[FAFSA Application](https://studentaid.gov/h/apply-for-aid/fafsa)

[Federal GradPlus Application](https://studentaid.gov/understand-aid/types/loans/plus/grad)

[College Ave Application Lender Website ](https://www.collegeave.com/harvardgraduate/)

If you are experiencing technical difficulties completing your loan application, you may need to [access the application through a VPN with a U.S. IP address.](https://www.huit.harvard.edu/vpn)



[Harvard FCU Application Lender Website](https://harvardfcu.org/education-loans/harvard-graduate-loan/)

Interest Rate for 10-Year Loan Term

8.07% Fixed

9.07% Fixed

7.25% Fixed\*

This is the interest rate for a 10-year repayment term; see the Repayment Term section below for rates if you select either the 5-year, 15-year, or 20-year term.

A 0.25% rate reduction for setting up automatic billing from the point of disbursement.



**Rates vary by School:**

7.60% Fixed (HLS, HBS, HMS, and HSDM)

7.85% Fixed (GSD, HKS, HGSE, GSAS, and HSPH)

This is the interest rate for a 10-year repayment term; see the Repayment Term section below for rates if you select either the 5-year or 15-year term.

A 0.25% rate reduction is available from the time of disbursement for borrowers who set up automatic billing.



Loan Origination Fees1

1.057%

4.228%

None

None

Estimated Repayment Cost per $10,000 Disbursed for 10-Year Loan Term, No Cosigner

[Estimated Repayment Cost Table](/PLL-estimated-repayment-cost-tables "Estimated Repayment Cost Tables")

[Estimated Repayment Cost Table](/PLL-estimated-repayment-cost-tables "Estimated Repayment Cost Tables")

[Estimated Repayment Cost Table](/PLL-estimated-repayment-cost-tables "Estimated Repayment Cost Tables")

[Estimated Repayment Cost Table](/PLL-estimated-repayment-cost-tables "Estimated Repayment Cost Tables")

Repayment Term1

Multiple repayment options available; for the most up to date repayment options [visit Federal Student Aid](https://studentaid.gov/manage-loans/repayment/plans).

Multiple repayment options available; for the most up to date repayment options [visit Federal Student Aid](https://studentaid.gov/manage-loans/repayment/plans).

5-, 8-, 10-, 15-, year or 20-year repayment terms available, selected up front, no penalty for early repayment.

6.75% fixed rate for all borrowers selecting a 5- year repayment term.

7.00% fixed rate for all borrowers selecting a 8- year repayment term.

7.75% fixed rate for all borrowers selecting a 15- year repayment term.

8.25% fixed rate\* for all borrowers selecting a 20-year repayment term.

*\*20-year repayment term is only available for the Medical, Dental, MBA, and Graduate Health Professions loans.*

HLS students have a 10-year repayment term.



5-, 10-, or 15-year repayment terms available, selected up front, no penalty for early repayment. **Rates vary by School.**

7.35% fixed rate\* for all borrowers selecting a 5-year repayment term

7.60% fixed rate for HLS, HBS, HMS, and HSDM borrowers selecting a 10-year repayment term.

7.85% fixed rate for GSD, HKS, HGSE, GSAS, and HSPH borrowers selecting a 10-year repayment term.

7.85% fixed rate for HLS, HBS, HMS, and HSDM borrowers selecting a 15-year repayment term.

8.10% fixed rate for GSD, HKS, HGSE, GSAS, and HSPH borrowers selecting a 15-year repayment term

\*5-year repayment term is only available for students enrolled at HLS, HBS, HMS, and HSDM only.

For HLS students, a 10-year repayment term is required for participation in the LIPP program



Loan Limits (assuming student has no other financial assistance)

Graduate programs – Up to $20,500 / year; Unsubsidized aggregate limit of $100,000.

Professional programs – Up to $50,000 / year; Unsubsidized aggregate limit of $200,000.



Up to Cost of Attendance

School-approved cost of attendance for domestic students. International students may have annual limits. Please contact your School’s financial aid office for more information.

For HLS Grad (LLM/SJD) student loan limits, please contact the [HLS Graduate Program](https://hls.harvard.edu/graduate-program/).



School-approved cost of attendance for the following Schools: HLS, HBS, HMS, and HSDM.

All other Harvard Schools will have annual loan limits. Please visit the [Harvard FCU website](https://harvardfcu.org/education-loans/harvard-graduate-loan/) for School-specific limits.

For HLS Grad (LLM/SJD) student loan limits, please contact the [HLS Graduate Program](https://hls.harvard.edu/graduate-program/).



Deferment

Principal and interest payments deferred while student is attending a Title IV eligible school at least half-time.

Additional deferments may be available. For up-to-date information, visit [Federal Student Aid Deferment](https://studentaid.gov/manage-loans/lower-payments/get-temporary-relief/deferment).

Interest accrues during any deferment and is capitalized if not paid.

Borrowers who file for bankruptcy may still be required to pay back the loan.



Same as Unsubsidized Loan column to the left.

Principal and interest payments deferred while student is attending Harvard, or other eligible institution, at least half-time.

See [Additional Program Details](/resource/preferred-lender-list-graduate-students-additional-program-details "Preferred Lender List for Graduate Students: Additional Program Details") for more information about deferment and grace periods, including specialized deferment options for medical, dental, law students.

Interest accrues during any deferment and is capitalized if not paid.

Borrowers who file for bankruptcy may still be required to pay back the loan.



Principal and interest payments deferred while student is attending Harvard at least half-time, or for 48 months, whichever is less.

See [Additional Program Details](/resource/preferred-lender-list-graduate-students-additional-program-details "Preferred Lender List for Graduate Students: Additional Program Details") for more information about deferment and grace periods, including specialized deferment options for medical, dental, law students.

Borrower may be eligible for up to 36 months of in-school deferment after the initial enrollment period, if enrolled at least half-time.

Interest accrues during any deferment and is capitalized if not paid.

Borrowers who file for bankruptcy may still be required to pay back the loan.



Forbearance

For the most up to date forbearance options, please visit [Federal Student Aid Forbearance](https://studentaid.gov/manage-loans/lower-payments/get-temporary-relief/deferment).

For the most up to date forbearance options, please visit [Federal Student Aid Forbearance](https://studentaid.gov/manage-loans/lower-payments/get-temporary-relief/deferment).

For borrowers who experience difficulty making payments, forbearance may be granted in the lender’s discretion for up to 12 months during the life of the loan). Additional forbearance may be available at lender’s discretion.

Interest accrues during any deferment and is capitalized if not paid.



Hardship forbearance of up to 12 months during the life of the loan, granted in the lender’s discretion and reviewed every 6 months. Additional forbearance may be available at lender’s discretion.

Interest accrues during any deferment and is capitalized if not paid.



Eligible for Federal Public Service Loan Forgiveness?

Eligible for borrowers who qualify; for additional details, visit [Federal Student Aid Public Service Loan Forgiveness](https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service).

Eligible for borrowers who qualify; for additional details, visit [Federal Student Aid Public Service Loan Forgiveness](https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service).

Not eligible

Not eligible





1 See [Additional Program Details](/resource/preferred-lender-list-graduate-students-additional-program-details "Preferred Lender List for Graduate Students: Additional Program Details") for other fees.

In addition to the federal and private loan programs listed above, [HLS](https://hls.harvard.edu/sfs/financial-aid/student-loans/), [HMS](https://hms.harvard.edu/education-admissions/md-program/cost-aid/types-aid), and [HSDM](https://www.hsdm.harvard.edu/financial-aid) may offer institutional loans. Please visit their websites or contact their Financial Aid Office for more information. In addition, Harvard manages LRAP programs for students enrolled at **HLS**, **HKS**, and **HBS**. Please contact the financial aid offices at each such School for more information.

## Other Important Information regarding our Lender Selection Process

Harvard does not own or control either College Ave Student Loans or Harvard FCU, and College Ave and Harvard FCU are not affiliates with each other. The private lenders on the list were selected through a Request for Information (RFI) process conducted in November 2025. The RFI 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 School Student Financial Services and Harvard Central Financial Administration, evaluated the RFI 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 [RFI request](/sites/g/files/omnuum10921/files/2026-04/PLL%20RFI%20Request%20AY26-27.pdf "Request for Information: Graduate, Professional Student, and Parent Loan Program")<a> </a>and a description of the [2026-27 Preferred Lender List Selection Process](/sites/g/files/omnuum10921/files/2026-04/PLL%20Selection%20Process%20AY26-27.pdf "Harvard University Preferred Lender Selection Process")<a>.</a>

The Higher Education Opportunity Act of 2008 (HEOA) requires institutions participating in the federal student loan programs to 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](https://sfs.harvard.edu/consumer-information#:~:text=Student%20Loans%20Code%20of%20Conduct) 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](https://fsapartners.ed.gov/sites/default/files/2023-06/H450PrivateEducationLoanApplicantSelfCertificationForm.pdf) 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.