Student Loans - Interest Rates
Student Loans - Interest Rate
Interest rate information for loans borrowed prior to July 1, 2012 can be found on the Direct Loan website at https://studentloans.gov
| Academic Year | Subsidized Rates | Unsubsidized |
|---|---|---|
| 2017-18 | 4.45% | 4.45% |
| 2018-19 | 5.05% | 5.05% |
| 2019-20 | 4.53% | 4.53% |
| 2020-21 | 2.75% | 2.75% |
Current Stafford Loan interest rates in effect from 07/01/2020 to 06/30/2021
- Subsidized Stafford Loans: fixed rate of 2.75%
- Unsubsidized Stafford Loans: fixed rate of 2.75%
- Plus Loans: fixed rate of 5.30 %
In addition, a loan fee is associated with these loans. The loan fee is a percentage of the loan amount and is proportionally deducted from each payment of the loan to the school. On or after Oct. 1, 2018 and before Oct. 1, 2019, Subsidized and Unsubsidized Stafford loans have a loan fee of 1.062% of the loan amount borrowed. Subsequently, on or after Oct. 1, 2019, and before Oct. 1, 2020, the loan fee is 1.059% of the loan amount borrowed. PLUS loans have a loan fee on the loan amount borrowed of 4.248% and 4.236% based on the respective dates above.