Refunds
Need money to cover summer living expenses?
Students who expect to have a credit balance once all anticipated aid is disbursed may apply for a summer living expense refund against the future credit.
Cash advances will be processed in mid-June for students with complete financial aid applications and whose programs begin in July.
Complete a Refund/Cash Advance Request Form
Financial Aid & Billing
Information
2025-26 Financial Aid Award Letters
Financial aid award notifications are now available through the HMS Financial Aid Portal.
You may also view your financial aid award information through the My.Harvard Student Portal. Here you can:
• View your application status
• Track your documents
• Print your award letters
• View quick links to refund and loan adjustment forms
Fall 2025 Tuition Bills
Bills are due August 1st.
Find out more about the ins and outs of your tuition billing statement.
Watch a video: Your Student Bill.
Understanding Your Cost of Attendance (COA) Budget
What’s Included in the COA?
• Tuition and fees
• Housing and food
• Personal expenses
• Books and supplies
• Transportation
• Loan fees
For more details, view Master’s COA Budgets Explained.
Why the COA Matters
Determines Your Financial Aid Eligibility: The financial aid office uses your COA to figure out how much aid you’re eligible to receive.
Caps Your Total Aid: You can’t receive financial aid exceeding your COA. This includes grants, loans and scholarships.
Helps You Plan Your Finances: Understanding your COA helps you create a realistic budget and make informed decisions about your spending.
Understanding the Cost of Attendance (COA) is crucial for planning your finances and maximizing your financial aid options. The COA is more than just tuition; it's an estimate of the total expenses you'll incur during an academic year as a student.
View the 2025-26 COA.
How is the COA Calculated?
The HMS Financial Aid Office determines the living expense budget portion of the COA. Below are how these expenses are calculated.
• Institutional Surveying: The Financial Aid Office sends a living expense survey to all students. Local housing markets including Harvard Real Estate are surveyed.
• Consumer Price Index (CPI): This is utilized to aid in determining living costs, transportation and other expenses.
• Standard Budgeting: The calculation follows federal guidelines and institutional policies.
• Financial Aid Committee: Made up of faculty, staff, and students who vote on the final COA budget.
Financial Aid: Your Questions Answered
Have questions about financial aid? To help simplify the process, we’ve compiled answers to some of the most common questions we receive from graduate students.
If you don’t see your question here, reach out to our office. We’re here to help!
What are my financial aid options as an international student? International students may be eligible for private loans with or without a U.S. co-signer. A list of private loan companies frequently used by Harvard students can be found online at https://sfs.harvard.edu/private-loan-options. Outside scholarships may also be an option. View our External Scholarship Guide for International Students.
When does interest on the federal loans start to accrue? Interest begins to accrue as soon as your loan disburses onto your student billing account. This typically occurs in mid-September for the fall disbursement and in early February for the spring disbursement.
Can I waive Harvard’s health insurance plan? All residential and remote full and part-time students are automatically enrolled in Harvard’s health insurance plan. You can waive the health insurance plan if you have comparable insurance. Health insurance waivers can be completed online at https://hushp.harvard.edu/waiver-eligibility-application-process/. Note: The cost of Harvard’s health insurance plan will be removed form your cost of attendance budget if you are waiving the school’s insurance plan. This may result in reduction of your financial aid award.
How is tuition billed? Tuition is billed twice a year. Tuition and fees are generally split between the fall and spring terms. Fall term bills go out in July and spring bills go out in December.
Are there any payment plan options? Students can enroll in a monthly payment plan through the Student Financial Services Office. There is a $35 fee per term to enroll in the plan. You can find more details online at https://sfs.harvard.edu/monthly-payment-plan.
IDR Plan Court Actions
A federal court has prevented the U.S. Department of Education from implementing parts of the Savings on a Valuable Education (SAVE) Plan and other income-driven repayment (IDR) plans.
As of March 26, 2025 the online IDR application is available for eligible borrowers to apply for IBR, PAYE, and ICR Plans. The online loan consolidation application is also available again.
View details.
Federal Loan Updates
2025-26 FAFSA Form
The 2025-26 Free Application for Federal Student Aid (FAFSA) is now available to complete for the 2025-26 academic year.
View details.
2025-26 Federal Loan
View details.
Financial Aid Fact
Students can cancel all or a portion of their federal loan disbursement within 120 days of the date of disbursement.
Students will not be charged interest or fees on the amount that is returned to their federal loan servicer.
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External Scholarship Resources
Visit our newly updated external scholarships resources page. Here you can find a list of external funding sources that may interest both domestic and international students pursuing a Master’s degree at HMS.
These resources include:
• External Resource Guide for both Domestic and International Students
• List of frequently used scholarship search engines
• Tips on applying for outside awards
For more information, visit External Funding Resources under Types of Funding on the HMS Financial Aid Site.