Summary of FFELP Interest Rates
Beginning July 1, 2010, all Federal student loans will be originated and disbursed by the U.S. Department of Education under the Federal Direct Loan (DL) Program. Private lending institutions will no longer be making loans to new or returning students under the Federal Family Education Loan Program (FFELP). Private lenders will continue to service any loans previously disbursed by them. Please visit Federal Student Aid at the Department of Education's website for Direct Loan interest rate information.
Fixed Rates
Loans First Disbursed on or After July 1, 2006
| LOAN TYPE |
GRADE LEVEL |
First disbursed between
7-1-2009 & 6-30-2010 |
| |
| Subsidized Stafford |
Undergraduate |
5.6% |
| Graduate |
6.8% |
| |
| Unsubsidized Stafford |
Undergraduate |
6.8% |
| Graduate |
6.8% |
| |
| PLUS Loans |
Parents & Graduate Students |
8.5% |
Variable Rates
Loans First Disbursed Between July 1, 1998 & June 30, 2006
| LOAN TYPE |
GRADE LEVEL |
For the period
7-1-2011 to 6-30-2012 |
| |
| Subsidized Stafford |
Repayment or forbearance |
2.36% |
| In school, grace, or deferment |
1.76% |
| |
| Unsubsidized Stafford |
Repayment or forbearance |
2.36% |
| In school, grace, or deferment |
1.76% |
| |
PLUS Loans -
parents and graduate students |
All statuses |
3.16% |
Loans disbursed after June 30, 2006 have a fixed interest rate as established by the U.S. Congress.