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Supplemental education loans are credit-based loans that may be borrowed to meet the gap between your cost of attendance and any financial aid you may be receiving. The following information is provided to assist you in making an informed decision regarding supplemental loan options. When considering supplemental loan programs, careful attention should be given to the interest rate (whether it is fixed or variable), to the length of the repayment period, to any borrower benefits (such as interest rate reductions and services) and to the deferment options. Students who anticipate continuing their studies beyond HKS should pay particular attention to the deferment options for each of the loans.
Please note: Private loans are not eligible for Income Based Repaymnet and the Federal Public Service Loan Forgiveness Program.
While for many students the Grad PLUS loan has some significant advantages, some students may find private loans preferable. If you expect to earn a salary which would make the income-based repayment plan less viable, private loans can offer interest rates that may be more attractive than the fixed 7.9% for the Direct Lending Grad PLUS.
Harvard University engaged in an open Request for Proposal process. The RFP was designed so that Harvard could provide information to its graduate and professional students on private loan products that have competitive rates and other borrower benefits. Please review Private Loans for Graduate and Professional Students for further information regarding private loan options as a result of the RFP process.
For further information on supplemental lenders, please review the information on private student loans at FinAid.org.