Domestic

US Citizens, US Permanent Residents, Citizens of Freely Associated States, Refugees, and Persons granted Asylum

Many students find it necessary to defray the cost of their education (tuition/fees plus living expenses) through borrowing federal and/or private loans.  For domestic students, we recommend that federal loan programs be considered first and fully used as a resource based on the annual/aggregate loan limits before borrowing from private loan programs.

Terms & Conditions 2020-2021

  • Must be a U.S. citizen or permanent resident.
  • Must be enrolled at least half-time (10 credits per term).
  • Can borrow up to $33,000 maximum per academic year; $224,000 aggregate lifetime limit.
  • Fixed interest rate of 4.30% -For prior year rates, please visit this page.
  • 1.059% origination fee for loans disbursed prior to October 1, 2020 and 1.057% for loans disbursed on/after October 1, 2020. This fee is automatically deducted from the loan prior to disbursement.
  • Loan is unsubsidized, meaning interest begins accruing at disbursement and continues accruing during the school year. If you choose not to pay the interest while you are in school (and during grace periods and deferment or forbearance periods), your interest will be capitalized (that is, your interest will be added to the principal amount of your loan) when you begin repayment.
  • A Master Promissory Note (MPN) and Entrance Interview are required for disbursement and can be completed online.
  • Exit Counseling is required for all graduating students as well as those whose enrollment falls below half-time status.

For more detailed information, visit the Federal Student Aid website.

How to apply for Federal Direct Unsubsidized Loans

  • Complete the FAFSA and Harvard Chan School Financial Aid Application at MyFinaid. 
  • Incoming students must be accepted into a degree-granting program before awards can be determined.
  • OFA will send an email to students who are eligible for federal loans.
  • The award types and amounts can be viewed on the “Awards” Tab in MyFinaid and the loans may be accepted/declined/reduced on the “Accept Awards” Tab in MyFinaid.
  • Students who have accepted their federal loans will be instructed when to complete the necessary online loan documents (MPN and Entrance Interview) required for disbursement to the student term bill. Students should wait to complete these requirements until prompted by OFA.

Terms & Conditions 2020-2021

  • Must be a U.S. citizen or permanent resident.
  • Must pass a credit check.
  • Must be enrolled at least half-time (10 credits per term).
  • The maximum PLUS loan amount you can borrow is the cost of attendance minus any other financial assistance you receive.
  • Fixed interest rate of 5.30% -For prior year rates, please visit this page.
  • 4.236% origination fee for loans disbursed prior to October 1, 2020 and 4.228% for loans disbursed on/after October 1, 2020. This fee is automatically deducted from the loan prior to disbursement.
  • Loan is unsubsidized, meaning interest begins accruing at disbursement and continues accruing during the school year. If you choose not to pay the interest while you are in school (and during grace periods and deferment or forbearance periods), your interest will be capitalized (that is, your interest will be added to the principal amount of your loan) when you begin repayment.
  • A Master Promissory Note (MPN) and Entrance Interview are required for disbursement and can be completed online.
  • Credit Issues: Individuals who apply and are denied due to credit issues are eligible to obtain an endorser (co-signer) and reapply.
  • Exit Counseling is required for all graduating students as well as those whose enrollment falls below half-time status.

How to Apply for the Direct GradPLUS Loan

  • Applicants must complete and return a Direct GradPLUS Credit Check Authorization FormNote: This form asks for personally identifiable information and should ideally be faxed, mailed or dropped off in person. If you must send it by email, password protect the PDF and send a separate email to our office with the password.
  • Students who pass the credit check will be notified of approval.
  • Instructions will be emailed to students who need to complete the online Entrance Interview and/or MPN. Students should wait to complete these requirements until prompted by OFA.

When considering which private loan to borrow, students should compare programs and decide which factors are the most important to them. We encourage all prospective borrowers to review all their options and consider the following: credit requirements, interest rate terms (ie: fixed or variable), fees, repayment incentives for the borrower, total cost, deferment and forbearance options, repayment timelines and flexibility.

A list of lenders who responded to the University’s Request For Information and offer private education loans to domestic students may be found through the University’s Student Financial Service’s site. To begin reviewing their responses and search for a lender, please follow these steps:

How to Apply for Private Loans

Harvard graduate and professional students are not required to use the lenders on this list.

Note: the Harvard T.H. Chan School of Public Health, like all of Harvard University, has no financial interest in your choice of private lender.