Direct Loan Interest Rates
Federal Direct Student Loan Interest Rates By Year
Federal loans must be repaid with interest. See the interest rates in the charts below. For a more detailed history of interest rates, visit Federal Interest Rates and Fees. Note that interest rates for the new academic year are generally determined in June.
A federal origination fee of approximately 1% is withheld at the time of disbursement for the Subsidized/Unsubsidized Loan and approximately 4% for the PLUS loan.
| LOAN DISBURSEMENT PERIOD | FEDERAL DIRECT SUBSIDIZED AND UNSUBSIDIZED LOANS FOR UNDERGRADUATE STUDENTS | FEDERAL DIRECT UNSUBSIDIZED LOANS FOR GRADUATE/PROFESSIONAL STUDENTS | FEDERAL DIRECT PARENT PLUS OR GRAD PLUS |
| July 1, 2023 - June 30, 2024 | 5.5% | 7.05% | 8.05% |
| July 1, 2022 - June 30, 2023 | 4.99% | 6.54% | 7.54% |
| July 1, 2021 - June 30, 2022 | 3.73% | 5.28% | 6.28% |
| July 1, 2020 - June 30, 2021 | 2.75% | 4.30% | 5.30% |
| July 1, 2019 - June 30, 2020 | 4.53% | 6.08% | 7.08% |
| July 1, 2018 - June 30, 2019 | 5.045% | 6.595% | 7.595% |
