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FFEL and Direct Loan Interest Rates Effective July 1, 2007


Loans First Disbursed on or After July 1, 2006


Loan Type
Status
Program
7/1/2007 to 6/30/2008
Direct Loans
FFEL
Subsidized Loans
 Repayment
or
Forbearance
6.80
6.80
In-School, Grace,
or Deferment
6.80
6.80
Unsubsidized Loans
 Repayment
or
Forbearance
6.80
6.80
In-School, Grace,
or Deferment
6.80
6.80
PLUS Loans
 All
7.90
8.50


Loans First Disbursed Between July 1, 1998 and June 30, 2006

These rates were calculated based upon statutory formulas and equal the bond equivalent rate of the 91-day Treasury bills auctioned on May 29, 2007, plus certain statutory percentage add-ons. The 91-day Treasury bills were auctioned at 4.919 percent, rounded to 4.92 percent.

Loan Type
Status
Program
Direct Loans
FFEL
7/1/2006
to
6/30/2007
7/1/2007
to
6/30/2008
7/1/2006
to
6/30/2007
7/1/2007
to
6/30/2008
Subsidized Loans
 Repayment
or
Forbearance
7.14
7.22
7.14
7.22
In-School, Grace,
or Deferment
6.54
6.62
6.54
6.62
Unsubsidized Loans
 Repayment
or
Forbearance
7.14
7.22
7.14
7.22
In-School, Grace,
or Deferment
6.54
6.62
6.54
6.62
PLUS Loans
 All
7.94
8.02
7.94
8.02

Notes:

  • Interest rates on Stafford and PLUS loans disbursed before July 1, 1998, are calculated using different statutory formulas, percentage add-ons, or both.
  • Generally, interest rates on Consolidation Loans are fixed rates calculated based on the weighted average of the loans being consolidated rounded up to the next higher 1/8 percent, not to exceed 8.25%.
Last updated/reviewed June 7, 2007

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