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.
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Federal Stafford loans
Subsidized Undergraduate Student – 5.6%
Subsidized Graduate Students – 6.8%
Unsubsidized Undergraduate and Graduate Students – 6.8%
Federal PLUS loans
8.5%
Federal Stafford loans
Loans in deferment, grace or in-school status – 1.88%
Loans in repayment status – 2.48%
Federal PLUS loans
3.28%
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.
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