Private Loan Options

Harvard University seeks information from lenders offering non-federal education loans each 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 borrower benefits, and are currently lending private education loans. Those loan products can be found on the ELM Select website. The historical list of lenders that Harvard students have borrowed from in the last five years is listed below. Some of these lenders may not currently lend student loans, and may not have application and disclosure information on the ELM Select website. Please consult the lender's website or state guarantee agency for more information. Harvard students are not required to use the lenders on the historical list or the current lenders on the ELM Select website.

Note: borrowers who are U.S. citizens or Permanent Residents 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

Five-year Private Education Loan Borrowing History:

  • Affinity Federal Credit Union 
  • Alaska Family Education Loan
  • AmSouth Bancorporation
  • Ascent Student Loans
  • Bank of Lake Mills
  • Bank of North Dakota
  • Baxter Federal Credit Union
  • Boston Firefighters Credit Union
  • Canada Student Loans
  • Charter One Bank
  • Citadel Credit Union
  • Citizens Bank
  • College Ave Student Loans
  • CommonBond Student Loans
  • Connecticut Higher Education Supplemental Loan Authority
  • Discover Student Loans
  • Earnest
  • Employee  & Alumni Association, National Park Service
  • First Dakota National Bank
  • Firstmark Services
  • Harvard University Employees Credit Union
  • INvestEd Student Loans (Indiana Residents)
  • Laurel Road 
  • LendKey
  • Massachusetts Educational Financing Authority
  • Massachusetts Medical Society
  • Michigan State University
  • MIT Federal Credit Union
  • MPOWER Financing
  • New Hampshire Higher Education Assistance Foundation
  • NJCLASS Loan Program
  • PNC Bank
  • Prodigy Finance
  • Rhode Island Student Loan Authority
  • Richland State Bank
  • Sallie Mae
  • SELF Loan (Minnesota Office of Higher Education)
  • SoFi Lending
  • Star One Credit Union
  • Suntrust Bank
  • Thrivent Federal Credit Union
  • Union Federal Savings Bank
  • Vermont Student Assistance Corporation