Most financial aid received by HBS students is in the form of loans. Loans carry a legal obligation to repay principal and interest under a defined repayment schedule. All students will receive detailed information about this option once admitted.
All U.S. citizens and U.S. permanent residents who apply for financial aid after being admitted to HBS should file a Free Application for Federal Student Aid as soon as they have prepared their Federal income tax return. The FAFSA can be completed online at www.fafsa.ed.gov. HBS's Title IV code is E00507.
Because eligibility for educational loans is dependent upon a satisfactory credit history, you should obtain a copy of your report as soon as possible to remedy any discrepancies or problems.
There are five basic types of loans available for HBS students:
- Federal Direct Stafford/Ford Loans are currently available to qualified students who are U.S. Citizens or U.S. Permanent Residents. The maximum loan amount is $20,500.
- The Federal Perkins Loan is a small loan program currently available to qualified students who are U.S. Citizens or U.S. Permanent Residents. The loan is interest free while you are in school.
- Federal Direct Graduate PLUS Loans are available to qualified students who are U.S. Citizens or U.S. Permanent Residents for the cost of attendance less other aid received.
- Private Loans are available for domestic and international students.
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