Calculation of Assistance

The Haas Financial Aid Office will determine and award all LRAP grants. The Program will award each participant a grant on a semi-annual basis equal to the participant's total repayments actually made on eligible loans during the preceding six month period. To take maximum advantage of the Program, participants are advised to make payments equal to those due under a standard repayment plan.

Additionally, the Haas Financial Aid Office realizes the value of prepayment as a method to pay off debt and limit interest accrual. In fact, we encourage it as a smart repayment strategy. In light of this, the LRAP program will consider payments made for up to twice the minimum amount due under a standard repayment schedule. Expect up to 6 weeks for reimbursement from campus.