Federal Perkins & Federal Direct Loan Programs and Related Information

Federal Perkins Loans

Federal Perkins Loans are need-based loans with a fixed interest rate of 5%. The program is administered by the HGSE Financial Aid Office and Harvard University will be the holder of the loan. Students must complete entrance counseling and an electronic loan promissory note prior to the loan being disbursed. The HGSE Financial Aid Office will notify students when it is time to complete these requirements.

• Perkins Loan Cancellation for Teachers

Federal Direct Loans

Federal Direct Loans may be need-based Subsidized Loans or non-need based Unsubsidized Loans. These loans have a fixed interest rate of 6.8%. Interest does not accrue on Subsidized Loans while in school, grace or deferment periods (while interest does accrue on Unsubzidized Loans during these times). The program is administered by the HGSE Financial Aid Office and the U.S. Department of Education will be the holder of the loan. In other words, you borrow a federal loan directly from the federal government with no involvement of any 3rd party.

Students must complete entrance counseling and an electronic loan promissory note prior to the loan being disbursed. The HGSE Financial Aid Office will notify students when it is time to complete these requirements.

• Federal Direct Loan Information
• Federal Stafford/Direct Loan Forgiveness for Teachers

Additional Federal Loan Information & Resources

• Federal Loan Entrance Counseling
• Federal Loan Exit Counseling for Graduating Borrowers
• National Student Loan Data System (NSLDS)
- cumulative federal loan history for students
• Federal Loan Consolidation at the Direct Loan Servicing Center