Summary of FFELP Interest Rates
Effective July 1, 2009, the interest rate on the Subsidized Stafford Loan for Undergraduates will drop to 5.6% for loans disbursed from July 1, 2009, through June 30, 2010.
Fixed Rates
Loans First Disbursed on or After July 1, 2006
|
LOAN TYPE |
GRADE LEVEL |
First Disbursed Between |
|
|
7-1-08 & 6-30-09 |
7-1-09 & 6-30-10 |
|
|
|
|
|
|
|
|
Subsidized Stafford |
Undergraduate |
6.00% |
5.60% |
|
|
Graduate |
6.80% |
6.80% |
|
|
|
|
|
|
|
|
Unsubsidized Stafford |
Undergraduate |
6.80% |
6.80% |
|
|
Graduate |
6.80% |
6.80% |
|
|
|
|
|
|
|
|
PLUS Loans |
Parent & Grad Student |
8.50% |
8.50% |
|
|
All Stafford Loans first disbursed between July 1, 2006 to June 30, 2008 have a fixed interest rate of 6.8%. PLUS Loans first disbursed during the same time period have a fixed interest rate of 8.5%.
Variable Rates
Loans First Disbursed Between July 1, 1998 & June 30, 2006
|
LOAN TYPE |
GRADE LEVEL |
For the Periods |
|
7-1-08 to 6-30-09 |
7-1-09 to 6-30-10 |
|
|
|
|
|
|
Subsidized Stafford |
Repayment or Forbearance |
4.21% |
2.48% |
|
In-School, Grace, or Deferment |
3.61% |
1.88% |
|
|
|
|
|
|
Unsubsidized Stafford |
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% |
Loans disbursed after June 30, 2006 have a fixed interest rate as established by the U.S. Congress.