Federal Stafford and PLUS loans can have a fixed or a variable interest rate. New loans disbursed on or after July 1, 2006, have fixed interest rates. Loans disbursed before have variable interest rates.
* The rates in this section are for William D. Ford Direct Loans. Effective July 1, 2010, FFELP loans are no longer available and federal student loans will only be available through the Direct Loan Program.
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Federal Stafford loans
Subsidized Undergraduate Students – 4.5%
Subsidized Graduate Students – 6.8%
Unsubsidized Undergraduate and Graduate Students – 6.8%
Federal PLUS loans
7.9%
* These rates are only for FFELP loans.
Federal Stafford loans
Subsidized Undergraduate Students – 5.6%
Subsidized Graduate Students – 6.8%
Unsubsidized Undergraduate and Graduate Students – 6.8%
Federal PLUS loans
8.5%
Loans disbursed before July 1, 2006, continue to have variable interest rates based on a formula established in the Higher Education Act of 1965, as amended. The interest rate may be adjusted each year on July 1. As a result, the interest rate may change annually, but will never exceed 8.25% for Federal Stafford loans and 9% for Federal PLUS loans.
View charts of July 1, 2000 - June 30, 2010 interest rates (PDF) (Document requires free Adobe Reader)
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