Harvard University has been a lender in these programs. As of that date all of our schools will be fully utilizing the Federal Direct Student Loan Program. The terms of these programs are similar. Some of the rates are fixed while others are calculated annually. During this time no interest or principal payments are required.
Unsubsidized loans begin accruing interest from the date of disbursement.
Payment of this interest can be postponed through the end of your grace period. The federal government and the school provide funding for this program. The Student Loan Office works in conjunction with your Financial Aid Office to produce a promissory note and to disburse the proceeds of the loan to your student bill once you have completed the note. You only need to sign one promissory note each year. The second half of your loan will automatically be disbursed in the spring term.