Note for 20-21

In the past, loan eligibility was based on a student’s term-time and summer work expectation. Starting in 20-21, Harvard College eliminated the summer work expectation. Following the recent FAS announcement regarding the 20-21 academic year, students receiving financial aid have had their term-time work expectation for 20-21 reduced to $0. Both measures are intended to ease the financial burden faced by families, especially for those students who may have otherwise borrowed to cover these expectations. With the elimination of summer work and reduction of the term-time work expectation to $0, loan eligibility would normally be $0. However this is an unusual year, and we recognize some students may still wish to borrow. As such, we will continue to process requests during the fall and spring semesters. If you wish to borrow, please submit this form, or reach out with any questions.

How Much Can I Borrow?

The amount and loan type you can request/receive is determined by your class year, student contribution amount, and whether you are receiving need-based Harvard grant aid.

How Much Can I Request?

Loan Type Comparison

  Harvard Student Loan Federal Direct Stafford Loan
First-Year Max Request $3,500 $5,500
Sophomore  Max Request $3,500 $6,500
Junior/Senior Max Request $3,500 $7,500
Interest Rate 4.00% 2.75%
Origination Fee N/A 1.057%
Repayment Term 10 years 10 years with extended options based on income, loan balance
Repayment Starts 6 months after you drop below half-time enrollment 6 months after you drop below half-time enrollment

Only available to Harvard Grant recipients

Maximum amount equal to term-time work expectation less outside awards

Open to all U.S. Citizens, permanent residents, and eligible noncitizens

Valid FAFSA required

Submit Your Request

Loan FAQs

Student Loan FAQs