The interest rate for Stafford loans disbursed on
or after July 1, 2009, is fixed at 5.6 percent for subsidized loans and 6.8
percent for
unsubsidized loans. The variable interest rate for Stafford loans first
disbursed on or after July 1, 1998 and prior to July 1, 2006 is 1.88 percent during
in-school, grace, or deferment status during the period of July 1, 2009 through
and including June 30, 2010. The variable interest rate for Stafford loans first
disbursed on or after July 1, 1998 and prior to July 1, 2006 is 2.48 percent if the
loans are in repayment or forbearance status during the period of July 1, 2007
through and including June 30, 2010.
The interest rate for the Federal Family Education Loan Program (FFELP) PLUS loans first disbursed on or after July 1, 2006 is fixed at 8.5
percent. The variable interest rate for PLUS loans first disbursed on or after July 1, 1998 and prior to July1, 2006 is
3.28 percent. Interest rates for variable-rate Stafford and PLUS loans are determined annually and are generally based on the bond equivalent rate of the 91-day Treasury bill plus an additional percentage as defined in the Higher Education Act of 1965 as amended (HEA).
These rates were calculated based upon statutory
formulas and equal the bond equivalent rate of the 91-day Treasury bills
auctioned on May 26, 2009, plus certain statutory percentage add-ons. The 91-day
Treasury bills were auctioned at 0.178 percent, rounded to 0.18 percent.
STAFFORD LOANS
| Qualifying Conditions |
Cap |
2009-2010 Rate |
| Subsidized loans
disbursed to undergraduate students 07/01/09 - 06/30/10 (Fixed rate) |
n/a |
5.60% |
| Unsubsidized loans
disbursed on or after 07-01-06 have a fixed rate. |
n/a |
6.80% |
| Loans disbursed
07-01-98 through 6-30-06. Borrower in school, grace or deferment status. |
8.25% |
1.88% |
| Loans disbursed
07-01-98 through 6-30-06. Borrower in repayment or forbearance. |
8.25% |
2.48% |
| Loans disbursed
7-01-95 through 6-30-98. Borrower in school, grace, or deferment status |
8.25% |
2.68% |
| Loans disbursed
7-01-95 through 7-01-98. Borrower in repayment or forbearance. |
8.25% |
3.28% |
| Loans disbursed
7-01-94 through 6-30-95. |
8.25% |
3.28% |
| Loans disbursed
10-1-92 through 6-30-94. |
8.25% |
3.28% |
PLUS LOANS
| Qualifying Conditions |
Cap |
2009-2010 Rate |
| Loans disbursed on or after 07-01-06 (Fixed rate) |
n/a |
8.50% |
| Loans disbursed 07-01-98 through 6-30-06. |
9.00% |
3.28% |
| Loans disbursed on or after 10-01-92 through 6-30-98. |
9.00% |
3.58% |