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Interest Rates for Stafford and PLUS loans in the direct loan
and federal family education loan programs
effective July 1, 2010
Fixed Rates for Loans First Disbursed on or After July 1, 2006
| Loan Type | Grade Level | First Disbursed
Between July 1, 2010
and June 30, 2011(see note) |
|
| Subsidized Loans | Undergraduate
Graduate | 4.50
6.80 |
|
| Unsubsidized Loans | Undergraduate
Graduate | 6.80
6.80 |
|
| PLUS Loans | Parent and Grad
Student | 7.90 for Direct Loans
and 8.50 for FFEL |
Notes:
- Effective July 1 2010, the only loans that can be made are Direct Loans.
Variable Rates for Loans First Disbursed Between July 1, 1998 and June 30, 2006
These rates were calculated based upon statutory formulas and equal the bond equivalent rate of
the 91-day Treasury bills auctioned on May 24, 2010, plus certain statutory percentage add-ons.
The 91-day Treasury bills were auctioned at 0.167 percent, rounded to 0.17 percent.
| Loan Type | Grade Level | For the Period
July 1, 2010 to
June 30, 2011 |
|
| Subsidized and Unsubsidized Loans | Repayment or Forbearance
In-school, Grace, or Deferment | 2.47
1.87 |
|
PLUS Loans -
Parent and Grad Student | All Statuses | 3.27 |
Notes:
- Interest rates on Stafford and 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.
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