2007-08 Interest Rates
Interest rates on Federal Stafford and PLUS loans can either have a fixed interest rate or a variable interest rate. New loans first disbursed on or after July 1, 2006, will have a fixed interest rate.
Therefore, loans disbursed prior to July 1, 2006, will continue to have a variable interest rate that is 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 it will never exceed 8.25 percent for Federal Stafford loans and 9.00 percent for Federal PLUS loans.
Below are the current interest rates for the Federal Family Education
Loan Program (FFELP).
July 1, 2007 through June 30, 2008
Loans first disbursed on or after July 1, 2006 (Fixed Rate)
Federal Stafford Loans
6.80%
Federal PLUS Loans
8.50%
Loans first disbursed between July 1, 1998 and June 30, 2006 (Variable Rate)
Federal Stafford Loans
6.62% during in-school, grace and deferment
7.22% during repayment
Federal PLUS Loans
8.02%
Download 2004-05 Variable Interest Rate Chart (PDF)
Interest Rate History
History of Converted Stafford Loan Interest Rates – 8/10% Loans Variable at 10% Rate Only (PDF)
History of Variable Interest Rates – PLUS Loans (PDF)
History of Variable Interest Rates – SLS Loans (PDF)
History of Variable Interest Rates – Non-Converted Stafford Loans (PDF)
History of Variable Interest Rates – Consolidations Loans (PDF)