July 1, 2001 – June 30, 2012
The interest rate for Stafford loans first disbursed between July 1, 2011, and June 30, 2012, is fixed at 3.4 percent for subsidized loans and 6.8 percent for unsubsidized loans. The interest rate for graduate and professional degree students is fixed at 6.8%. PLUS loans have a fixed interest rate of 7.9%. Please note that as of July 1, 2010, all federal loans must be obtained through the Federal Direct Loan Program. Go to studentaid.ed.gov for information regarding federal student loans first disbursed after that date.
The variable interest rates for older Stafford and PLUS loans issued through the Federal Family Education Loan Program (FFELP) are detailed below. The interest rates on these loans are calculated annually on July 1, based on the last 91-day T-bill auction in May. Access the Interest Rate Memo issued by the U.S. Department of Education to obtain additional information on variable interest rates not provided below.
Loans First Disbursed 07/01/1998 – 06/30/2006 |
Loan Type |
Loan Status |
Interest Rate
Effective
07/01/10 to 06/30/11 |
Interest Rate
Effective
07/01/11 to 06/30/12 |
Stafford
(Subsidized and Unsubsidized) |
In-school, Grace, or Deferment |
1.87% |
1.76% |
Repayment or Forbearance |
2.47% |
2.36% |
PLUS
(Parent or Student) |
All Statuses |
3.27% |
3.16% |
Loans disbursed on or after July 1, 2006, have fixed rates. The following chart details the fixed rates for FFELP loans first disbursed between July 1, 2006, and June 30, 2010.
Loans First Disbursed 07/01/2006 – 06/30/2010 |
Loan Type |
Grade Level |
First Disbursed
07/01/06 to 06/30/08 |
First Disbursed
07/01/08 to 06/30/09 |
First Disbursed
07/01/09 to 06/30/10 |
Stafford
(Subsidized) |
Undergrad |
6.80% |
6.00% |
5.60% |
Grad |
6.80% |
6.80% |
6.80% |
Stafford
(Unsubsidized) |
Undergrad |
6.80% |
6.80% |
6.80% |
Grad |
6.80% |
6.80% |
6.80% |
PLUS |
Parent or Grad Student |
8.50% |
8.50% |
8.50% |
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