Office of Student Aid : Loans : Current Loan Interest Rates
Loan Interest Rates
2009-10 Academic Year
Fixed loan interest rates for the 2009-10 academic year (effective July 1, 2009) for loans disbursed on or after July 1, 2009: |
|
| Federal Direct Stafford-Undergraduate - Subsidized (repayment only) | 5.6% |
| Federal Direct Stafford-Graduate - Subsidized (repayment only) | 6.8% |
| Federal Direct Stafford-Undergraduate/Graduate - Unsubsidized (in-school, grace, deferment and repayment periods) | 6.8% |
| Federal Direct Parent PLUS Loan | 7.9% |
| Federal Direct Graduate PLUS Loan | 7.9% |
Variable loan interest rates** for the 2009-10 academic year (effective July 1, 2009 through June 30, 2010) for loans disbursed after July 1, 1998 but prior to July 1, 2006: |
|
| Federal Stafford (in-school, grace, and deferment) | 1.88% |
| Federal Stafford (during repayment) | 2.48% |
| Federal Parent PLUS Loan | 3.28% |
| Federal Graduate PLUS Loan | 3.28% |
2008-09 Academic Year
Fixed loan interest rates for the 2008-09 academic year (effective July 1, 2008) for loans disbursed on or after July 1, 2008: |
|
| Federal Direct Stafford-Undergraduate - Subsidized (repayment only) | 6.0% |
| Federal Direct Stafford-Graduate - Subsidized (repayment only) | 6.8% |
| Federal Direct Stafford-Undergraduate/Graduate - Unsubsidized (in-school, grace, deferment and repayment periods) | 6.8% |
| Federal Direct Parent PLUS Loan | 7.9% |
| Federal Direct Graduate PLUS Loan | 7.9% |
Variable loan interest rates** for the 2008-09 academic year (effective July 1, 2008 through June 30, 2009) for loans disbursed after July 1, 1998 but prior to July 1, 2006: |
|
| Federal Stafford (in-school, grace, and deferment) | 3.61% |
| Federal Stafford (during repayment) | 4.21% |
| Federal Parent PLUS Loan | 5.01% |
| Federal Graduate PLUS Loan | 5.01% |
**Variable interest rates for the Federal Stafford and PLUS Loans will change every July 1. However, by law, they will never exceed 8.25% for the Stafford or 9% for the PLUS.
A Note about Federal Consolidation Loans:
The interest rate for a consolidation loan is the weighted average of the interest rates on the loans being consolidated (as of the date the application for consolidation is received), rounded to the nearest higher one-eighth of one percent. This rate is fixed for the life of the loan and cannot exceed 8.25%.