# Preferred Lender List for Graduate Students: Additional Program Details The table below outlines the lender contact information and the lender description of the loan product for loans disbursed on or after July 1, 2026 except where otherwise noted. Contact the lender directly for any updated information and for any additional disclosure information. Although we have attempted to provide accurate information, the accuracy, completeness, and reliability of the information is not guaranteed by Harvard University. Borrowers should review and verify the exact terms, conditions, qualifications, and disclosures associated with any loan product with the lender. 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. SortLOAN INFORMATIONFEDERAL DIRECT UNSUBSIDIZED LOANFEDERAL DIRECT UNSUBSIDIZED LOANCOLLEGE AVE STUDENT LOANS (COLLEGE AVE)HARVARD FEDERAL CREDIT UNION (HARVARD FCU)Interest Rate 8.07% Fixed 9.07% Fixed - 6.75% fixed rate for 5-year repayment term - 7.00% fixed rate for 8-year repayment term - 7.25% fixed rate for 10-year repayment term - 7.75% fixed rate for 15-year repayment term - 8.25% fixed rate for 20-year repayment term HLS students have a 10-year repayment term. A 0.25% rate reduction is available from the time of disbursement for borrowers who set up automatic billing. **College Ave is included on Harvard’s preferred lender list for its fixed rates listed above. College Ave may also offer variable rates, which Harvard has not reviewed.** **Rates for HLS, HBS, HMS, and HSDM** - 7.35% fixed rate\* for 5-year repayment term - 7.60% fixed rate for 10-year repayment term - 7.85% fixed rate for 15-year repayment term **Rates for GSD, HKS, HGSE, GSAS, and HSPH** - 7.85% fixed rate for 10-year repayment term - 8.10% fixed rate for 15-year repayment term **HSPH Less than Half Time Program** - 8.10% fixed rate for 15-year repayment term \*The 5-year repayment term is available for students enrolled at HLS, HBS, HMS, and HSDM only. A 0.25% rate reduction is available from the time of disbursement for borrowers who set up automatic billing. Origination Fee 1.057%, deducted prior to disbursement 4.228%, deducted prior to disbursement None None Guarantee Fee None None None None Available to International Students No No Yes Yes U.S. Cosigner Requirement None Borrowers must pass a credit check and not have adverse credit history. No cosigner required for credit- worthy borrowers. None None Repayment Term No penalty for early repayment. Multiple repayment options available; for the most up to date repayment options visit [Federal Student Loan Repayment Plans](https://studentaid.gov/manage-loans/repayment/plans). No penalty for early repayment. Multiple repayment options available; for the most up to date repayment options please visit [Federal Student Loan Repayment Plans](https://studentaid.gov/manage-loans/repayment/plans). No penalty for early repayment; 10-year, 5-year, 15-year, or 20-year repayment terms available, generally selected up front. **HLS students are limited to a 10-year repayment term.** **The 20-year repayment term is only available for the Medical, Dental, MBA, and Graduate Health Professions loans.** No penalty for early repayment; 10-year, 5-year, or 15-year repayment terms available, generally selected up front. **The 5-year repayment term is available for students enrolled at HLS, HBS, HMS, and HSDM only.** Harvard FCU will permit, for any borrower who did not originally select a 10 year repayment term, a modification of the repayment period to a 10 year term in order to qualify the loan for [Low Income Protection Plan (“LIPP”)](https://hls.harvard.edu/sfs/lipp/lipp-policies/eligible-borrowing/) assistance. A fee of 1% of the outstanding loan balance, amortized over the repayment term, will be charged for conversion to a 10 year repayment term from any other repayment term. Grace Period 6-month grace period Interest accrues during any grace period. 6-month grace period Interest accrues during any grace period. 9-month grace period Interest accrues during any grace period and is capitalized if not paid. 9-month grace period Interest accrues during any grace period and is capitalized if not paid. Borrower Repayment Incentives None None 0.25% interest rate reduction for automatic recurring payments from an eligible bank account (discount can be applied immediately due to autopay enrollment, prior to repayment). 0.25% interest rate reduction for automatic recurring payments from an eligible bank account, available from the time of disbursement. Late Payment Fee None None $25 or 5% of the unpaid amount of the monthly payment, whichever is less. $15 or 3% of payment due, whichever is lower, for each late payment. Annual Loan Limits (assuming student has no other financial assistance) For students enrolled in graduate programs – Up to $20,500 / year; Unsubsidized aggregate limit of $100,000. For students enrolled in professional programs – Up to $50,000 / year; Unsubsidized aggregate limit of $200,000 School-approved cost of attendance School-approved cost of attendance for domestic students. International students may have annual limits. Please contact your school financial aid office for more information. Loan limits for LLM/SJD students must be approved by the [HLS Graduate Program](https://hls.harvard.edu/dept/graduate-program/). $1,000 minimum loan amount 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 Loan limits for LLM/SJD students must be approved by the [HLS Graduate Program](https://hls.harvard.edu/dept/graduate-program/). $1,000 minimum loan amount Aggregate Loan Limits Cumulative debt limit of $100,000 ($200,000 for professional students) including any prior Direct Unsubsidized Loans Cumulative school-approved cost of attendance Aggregate per-student, education loan borrowing limit is $200,000 to $500,000, depending on the graduate program. Loan limits for LLM/SJD students must be approved by the[ HLS Graduate Program](https://hls.harvard.edu/dept/graduate-program/). Aggregate per-student, education loan borrowing limit is $200,000 to $400,000, depending on the graduate program. Loan limits for LLM/SJD students must be approved by the [HLS Graduate Program](https://hls.harvard.edu/dept/graduate-program/). Eligibility U.S. Citizen or Permanent Resident U.S. Citizen or Permanent Resident who (i) was e-rolled 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 of study. New students (as of July 1, 2026) are not eligible for GradPlus Loans. Students who remain eligible for GradPlus Loans as of July 1, 2026 may borrow GradPlus Loans through the lesser of June 30, 2029 or the student’s expected time to credential. U.S. Citizen, Permanent Resident, or International Student enrolled at Harvard U.S. Citizen, Permanent Resident, or International Student enrolled at Harvard Deferment Principal and interest payments deferred while student in school (however, interest accrues and if unpaid will be capitalized). 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). Principal and interest payments deferred while student in school (however, interest accrues and if unpaid will be capitalized). 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). Principal and interest payments deferred while student is attending Harvard, or other eligible institution, at least half-time. Interest accrues during any deferment and is capitalized if not paid. **Medical School Loan:** 36-month grace period - Additional deferment up to 48 months, in 12-month increments **Dental School Loan:** 12-month grace period - Additional deferment up to 36 months, in 12-month increments **Law School Loan:** 9-month grace period - Additional deferment up to 12 months for clerkship **Graduate Health Professions Loan:** 9-month grace period - Additional deferment up to 48 months, in 12-month increments Borrowers who file for bankruptcy may still be required to pay back the loan. Up to 48 months of in-school deferment while the student is enrolled at Harvard. Up to 36 months of additional deferment time may be granted post Harvard enrollment for students pursuing a graduate, doctorate, or Ph.D. program, at least half-time. Interest accrues during any deferment period and if unpaid will be capitalized. **Medical Residency:** 9-month grace period, up to 48 months deferment for those enrolled in an authorized residency program. **Judicial Clerkship:** 9-month grace period, up to 12 months deferment for law school graduates who enter a clerkship Borrowers who file for bankruptcy may still be required to pay back the loan. Forbearance For the most up to date forbearance options, visit [Federal Student Aid Forbearance](https://studentaid.gov/manage-loans/lower-payments/get-temporary-relief/forbearance) Interest accrues. For the most up to date forbearance options, visit [Federal Student Aid Forbearance](https://studentaid.gov/manage-loans/lower-payments/get-temporary-relief/forbearance) Interest accrues. Forbearance options may be granted at the lender’s discretion. Borrowers who experience difficulty making payments may be granted a forbearance 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 period and if unpaid will be capitalized. 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. Capitalized Interest Unpaid interest on unsubsidized loans capitalizes after deferment; for more information on interest capitalization, visit [Interest Rates and Fees for Federal Student Loans](https://studentaid.gov/understand-aid/types/loans/interest-rates#capitalization). Unpaid interest on unsubsidized loans capitalizes after deferment; for more information on interest capitalization, visit [Interest Rates and Fees for Federal Student Loans](https://studentaid.gov/understand-aid/types/loans/interest-rates#capitalization). Unpaid accrued interest is capitalized when the loan enters repayment and at the end of deferment, grace, or forbearance periods. Interest is accrued as daily simple interest based on 365.25 days in the year. Interest is capitalized once at the start of repayment. Interest is also capitalized at the end of any deferment, grace, or forbearance periods. Cancellation and Forgiveness Borrower’s obligation is canceled on death or permanent and total disability. Public Service Loan Forgiveness (PSLF) forgives the remaining balance after 120 payments are made under a qualifying repayment plan while working for a [qualified employer](https://studentaid.gov/pslf/employer-search). Borrower’s obligation is canceled on death or permanent and total disability. Public Service Loan Forgiveness (PSLF) forgives the remaining balance after 120 payments are made under a qualifying repayment plan while working for a [qualified employer](https://studentaid.gov/pslf/employer-search). College Ave offers loan forgiveness in the event of a student’s death or permanent disability. Discharge eligibility is at the discretion of College Ave Student Loans. Private loans are not eligible for Public Service Loan Forgiveness (PSLF). A borrower may be eligible for cancellation due to death or disability. Discharge eligibility is at the discretion of Harvard FCU and requires proof of permanent disability such as documentation from the U.S. Department of Veterans Affairs, The Social Security Administration, or physician certification. Private loans are not eligible for Public Service Loan Forgiveness (PSLF). Consolidation Multiple federal student loans can be combined into a single Direct Consolidation loan to simplify repayment Multiple federal student loans can be combined into a single Direct Consolidation loan to simplify repayment Not eligible for federal loan consolidation. Refinancing/consolidation loans may be available through College Ave Student Loans. Please contact lender for more information. Not eligible for federal loan consolidation. Refinancing/consolidation loans may be available through Harvard FCU. Please contact lender for more information. Other Lender Requirements Must complete Free Application for Federal Student Aid (FAFSA) and Federal loan entrance counseling process Must complete Free Application for Federal Student Aid (FAFSA) and Federal loan entrance counseling process Must apply through [College Ave Lender Application](http://www.collegeave.com/harvardgraduate). To receive a loan, the student must become a Harvard FCU member by opening and maintaining a no-fee share account. Students must apply through [Harvard FCU Application](https://harvardfcu.org/education-loans/harvard-graduate-loan/). Private Loan Application and Solicitation Disclosures (ASD) Provided by Lender Not required for Federal loans under TILA regulations Not required for Federal loans under TILA regulations [College Ave Dental School Loan](/sites/g/files/omnuum10921/files/2026-04/College%20Ave%20Dental%20School%20Loan%20AY26-27.pdf "Application and Solicitation Disclosure: College Ave Dental School Loan") [College Ave Law School Loan](/sites/g/files/omnuum10921/files/2026-04/College%20Ave%20Law%20School%20Loan%20AY26-27.pdf "Application and Solicitation Disclosure: College Ave Law School Loan") [College Ave STEM Graduate Loan](/sites/g/files/omnuum10921/files/2026-04/College%20Ave%20STEM%20Graduate%20Loan%20AY26-27.pdf "Application and Solicitation Disclosure: College Ave STEM Graduate Loan") [College Ave Select MBA Loan](/sites/g/files/omnuum10921/files/2026-04/College%20Ave%20Select%20MBA%20AY26-27.pdf "Application and Solicitation Disclosure: College Ave Select MBA Loan") [College Ave Medical School Loan](/sites/g/files/omnuum10921/files/2026-04/College%20Ave%20Medical%20School%20Loan%20AY26-27.pdf "Application and Solicitation Disclosure: College Ave Medical School Loan") [College Ave Graduate Loan](/sites/g/files/omnuum10921/files/2026-04/College%20Ave%20Graduate%20Loan%20AY26-27.pdf "Application and Solicitation Disclosure: College Ave Graduate Loan") [College Ave Graduate Health Loan](/sites/g/files/omnuum10921/files/2026-04/College%20Ave%20Graduate%20Health%20Loan%20AY26-27.pdf "Application and Solicitation Disclosure: College Ave Graduate Health Loan") [Harvard FCU Graduate Loan Disclosure for MBA, Law, Medical, Dental (5-, 10-, and 15-year term) ](https://harvardfcu.org/wp-content/uploads/2025/06/Harvard-Graduate-Loan-MBA-Law-Medical-Dental-06.2025.pdf) [Harvard FCU Graduate Loan (10- and 15-year term) ](https://harvardfcu.org/wp-content/uploads/2025/06/Harvard-Graduate-Loan-06.2025.pdf) [Harvard FCU Chan Less Than Half-Time program](https://harvardfcu.org/wp-content/uploads/2025/06/Harvard-Chan-Less-Than-Half-Time-Loan-06.2025.pdf) 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 Lender Application](http://www.collegeave.com/harvardgraduate) will be made available beginning mid-April, 2026 **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.** [Harvard FCU Application](https://harvardfcu.org/education-loans/harvard-graduate-loan/) will be made available beginning mid-April, 2026