Education Loan Payment Supplemental Data Form

Parent/Mother/Father

This form is listed as required because you indicated on the HLS Main Online Institutional Application that your parent(s) are making required education loan payments. If you feel this document is listed in error, please contact our office.  

Students whose parents are currently REQUIRED to make loan payments on education debt incurred for either their own education expenses OR the education expenses of one or more of their dependents are potentially eligible to receive an income protection allowance against their income for these payments as part of our determination of your eligibility need-based grant assistance. HLS has a very favorable policy in place which serves to reduce our calculation of any assessed parent contribution by removing the amount of current parental income that is being used to service past or present education debt from the amount of income which we would normally consider to be available to assist with the financing of your legal education. This allowance, once given, has a positive affect on your aid eligibility as it increases our determination of your financial need and results in a lower assessed parent contribution.

In order to receive an allowance for parent education loan payments, you must the Education Loan Payment Form with attached documentation verifying the data on the form. No allowances will be given unless proper documentation is received. If you submit this form without documentation, no allowance will be given.

There are STRICT guidelines on what types of loan payments qualify and what type of specific documentation is necessary for us to give you this allowance when assessing your eligibility for HLS need-based aid. 

Qualifying Loan Payment Guidelines

• We only want to know about EDUCATION loans that your parents have borrowed in their own name and their own social security number. We do not make allowances for loans parents are paying on behalf of their children. For example, if the only loans your parents pay are Federal Stafford Loan borrowed in either your name or one of your sibling’s names, we would not make an allowance for these. These are student loans and not parent loans.
• We will only allow MINIMUM required payments. While it is perfectly acceptable for parents to pre-pay principal on their education debt, we will only allow the minimum amount of money they are required to pay monthly to keep these loans in good standing when assessing your eligibility for aid.
• We will only allow payments on formal education loans that required the signing of an official education promissory note. Payments on informal family/relative loans and/or on loans with a verbal promise to repay will not be allowed. Also, home equity loans borrowed in lieu of education loans are not allowed
• We will only allow payments on loans that are in ACTIVE repayment. Loans that are in deferment or that are still within their grace period will not be allowed. Future expected loan payments will not be allowed. Once loans enter active repayment, you can notify our office, and provide the required documentation and then we will revise our analysis to reflect this fact.

Loan Payment Documentation Requirements & Suggestions

• All allowances granted must be documented with an official statement from the lender(s)which contains the following information:
• The name and/or social security number of the person in whose name the debt was borrowed
• The type of education loan borrowed (Federal PLUS, Federal Stafford, Private Education, etc)
• The name of the lender to whom the loan is being repaid
• Evidence of the fact that the loan is in active repayment and that payments are currently due
• The amount of the total outstanding debt owed
• The amount of the required minimum monthly payments to service this debt
• It is best if this documentation can be submitted at the same time you submit your parents' Federal tax forms.
• We strongly suggest you gather all loan payment documents together and submit them all at once with the form so none are missed at the time your file is reviewed.
• The fastest way to submit documentation to our office is via fax at 617-496-5453.
• Finally, in order to be fair to all applicants, no exceptions can be made to this documentation requirement.