Private Loan Options

Harvard University seeks information from lenders offering non-federal education loans year through an open Request for Information (RFI) process. We do this to create a neutral list of private loan products that have competitive rates and other borrower benefits. Harvard students are not required to use the lenders on these lists. In addition, domestic borrowers may qualify for federal loans and the terms and conditions of these federal funds may be more favorable than the terms and conditions of private education loans.

Information about the private loan products received through Harvard's RFI process will be hosted on ELMSelect. International students who have a U.S. co-signer should review loan options on both the "Graduate" and "International" pages on ELMSelect.

Prospective borrowers should review all materials closely and contact the lender to clarify any questions or concerns. Due to the economic climate, rates and loan terms may change throughout the year for some loans offered by these lenders. Consider the following when comparing private education loans:

  • Cosigner Requirements and Cosigner Release Options
  • Interest Rate: Variable or Fixed, Index and Margins, Interest Capitalization Policies
  • Borrower Benefits: Interest Rate Reductions for ACH and Cosigners, On-time payment incentives
  • Fees: Origination Fees, Late Fees, Return Check Fees
  • Repayment Options: Repayment Start Dates, Years In Repayment
  • Grace Period, Deferment and Forbearance Options