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Debt Management Guide

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As a Harvard student, you are not expected to take out loans, nor are they included in of your financial aid award. However, you may choose to pursue loans to help cover your student or parent contribution, or for expenses related to your educational experience. If you are considering taking out a loan then it is important, both now and in the future, that you “borrow smart.” This means finding a loan with the best terms and conditions available, with a monthly payment you can handle.

Remember – loans are an obligation. You are borrowing money from someone with an agreement to pay that money back. Failure to uphold your end of the bargain can result in some pretty serious consequences. These include adverse credit, debt collection agencies, and even wage garnishment. All of those are avoidable though, so long as you are both careful and informed about your borrowing. Below you will find information that our office has put together in an effort to help you manage debt you might incur while in college. Even though the intention of this page is to help you manage education debt, the concepts and terms presented here can be applied to many other loan programs that may encounter after life at Harvard.