Interest Rates for Stafford & PLUS Loans in the Direct Loan & Federal Family Education Loan Programs
Effective July 1, 2009
LOAN TYPE |
GRADE LEVEL |
First Disbursed Between July 1, 2008 & June 30, 2009 |
First Disbursed Between July 1, 2009& June 30, 2010 |
|---|---|---|---|
| Subsidized Loans | Undergraduate | 6.00 |
5.60 |
| Graduate | 6.80 |
6.80 |
|
| Unsubsidized Loans | Undergraduate | 6.80 |
6.80 |
| Graduate | 6.80 |
6.80 |
|
| PLUS Loans | Parent & Grad Student | 7.90 for Direct Loans & 8.50 for FFEL |
7.90 For Direct Loans & 8.50 for FFEL |
Variable Rates for Loans First Disbursed Between
July 1, 1998 & June 30, 2006
These rates were calculated based upon statutory formulas and equal the bond equivalent rate of the 91-day Treasury bills auctions on May 26, 2009 plus certain statutory percentage add-ons. The 91-day Treasury bills were auctioned at 3.178 percent to 0.18 percent.
LOAN TYPE |
LOAN STATUS |
For the Period July 1, 2008 to June 30, 2009 |
For the Period July 1, 2009 to June 30, 2010 |
|---|---|---|---|
| Subsidized Loans | Repayment or Forbearance |
4.21
|
2.48 |
| In-school, Grace, or Deferment | 3.61 |
1.88
|
|
| Unsubsidized Loans | Repayment or Forbearance | 4.21 |
2.48 |
| In-school, Grace, or Deferment | 3.61 |
1.88 |
|
| PLUS Loans - Parent & Grad Student | All Statuses | 5.01 |
3.28
|
Notes:
- Interest rates on Stafford & PLUS loans disbursed before July 1, 1998, are calculated using different statutory formulas, percentage add-ons, or both.
- Generally, interest rates on Consolidation Loans are fixed rates calculated based on the weighted average of the loans being consolidated rounded up to the next higher 1/8 percent, not to exceed 8.25 percent.