Eligibility Criteria:
- Eligible individuals are Haverford graduates who had a standard loan expectation as part of their financial aid package. The “standard loan expectation” is based on family income level and is part of the self-help portion of a student’s financial aid award. Individuals who meet this eligibility requirement are notified by the Office of Admission the summer after they graduate.
- Applicants must be in good standing with, and have active responsibility for making payments on, their eligible student loan(s) during the program year (November 1 - October 31), i.e. the applicant's payments toward their eligible student loan(s) may not be deferred due to enrollment in graduate school, armed services, Teach for America, or participation in any other student loan debt deferral option; and
- Applicants must meet at least one of the following criteria:
- Low income trajectory due to choice of profession; and/or
- Facing difficulty pursuing their intended professional goals because of financial hardship; and/or
- Unemployed.
Additional Information:
Eligible Haverford graduates may apply for student loan debt relief the summer after they graduate, and in each subsequent year, and may receive student loan debt relief support for up to three years through the Haverford Student Loan Debt Relief program.
Only loan amounts up to an applicant’s total standard loan expectation and used for their Haverford education are eligible for relief through the Haverford Student Loan Debt Relief program. Loans exceeding an applicant’s standard loan expectation are not covered. Haverford will refer to original financial aid records to verify the standard loan expectation assigned to each applicant as part of their Haverford financial aid package.
Successful applicants receive debt relief support in the form of a single annualized payment on or before November 15 of the current program year to ensure that recipients can make timely student loan payments, assuming standard loan terms and deferral timing and recognizing that there may be some variability in loan terms for some borrowers. Borrowers are ultimately responsible for all of their loans.
The Haverford Student Loan Debt Relief program provides debt relief support up to the limit of the available annual income from the endowed fund established for this purpose. An Award Committee appointed by the President of the College allocates the available funds based on applicant need and anticipated earnings trajectory, if known. Priority is given to recent graduates as they establish themselves in their chosen careers.
The Haverford Student Loan Debt Relief fund seeks to offer a helping hand, and in no way represents a legal obligation on the part of Haverford, or the Jaharis Family Foundation.
For tax purposes, the College will provide recipients with the appropriate form for miscellaneous income for individual tax filing requirements. Recipients are encouraged to consult with a qualified tax advisor for specific guidance.