Computer Loan Form
Overview
Deadline
The application deadline for costs incurred during the 2024-2025 school year is May 31, 2025.
How Does It Work?
The Financial Aid Office offers students receiving need-based Harvard Scholarship the opportunity to borrow additional funds for the purchase of a computer, computer equipment, and/or computer software. You may borrow up to $1,500 from the Harvard Computer Loan Program during the time you are an undergraduate. In order to apply, you must submit a complete financial aid application for the academic year and be eligible for need-based Harvard Scholarship.
Please consider the following issues before you make your decision to take out this additional loan:
- What is your current educational loan debt? Before taking out a computer loan, it is important to consider your total loan debt. If you have chosen to borrow loans to replace or supplement your term-time work expectation, we estimate that your loan debt may be between $3,000 and $12,000 by the time you graduate. Loan payments after graduation therefore may vary from $50 to $130 per month. This does not include any additional amount borrowed for your computer.
- Do you know what computer you need? Make sure you buy a computer that will be appropriate for you. We recommend that you talk to your current or future academic department, especially if you plan to concentrate in Engineering or Computer Science.
- Have you considered an energy efficient computer? You may wish to consider energy efficiency when purchasing your computer equipment. FAS recommends that you consider buying either a laptop or a flat-panel LCD monitor with a desktop and that you select Energy-Star labeled computers and peripherals. More tips on energy efficiency are available at: https://green.harvard.edu/topics/it.
Here are some facts about the Computer Loan Program:
- The Harvard loan program has a fixed interest rate of 4%. It is subsidized, which means that the interest is paid by Harvard while you are enrolled in school at least half-time, or when the loan is in a period of deferment.
- There are no origination or insurance fees. There is no co-signer or credit check required.
- Repayment starts six months after you graduate, take a leave of absence or withdraw from Harvard, continues for up to ten years, and can be deferred while in graduate school.
- Your monthly payment will be approximately $10.61 per thousand borrowed and there is a minimum $50 monthly payment.
Submit Your Request
It is past the deadline to complete this form for 24-25, but if you have questions, please email us at faoloans@fas.harvard.edu. Forms for the 2025-2026 academic year will be live starting in mid-July.