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INTEREST RATES FOR STAFFORD AND PLUS LOANS
EFFECTIVE JULY 1, 2011


Fixed Rates:

Direct Loan and FFEL Program Loans First Disbursed on/after July 1, 2006

NOTE: Effective July 1, 2010, the only loans that can be made are Direct Loans.

Loan Type
Fixed Rate for Loans First Disbursed Between July 1, 2010 and June 30, 2011
Fixed Rate for Loans First Disbursed Between July 1, 2011 and June 30, 2012
 
Subsidized Loans for undergraduate students
4.50
3.40
 
 
Fixed Rate for Loans First Disbursed on or after July 1, 2006
Subsidized Loans for graduate and professional students

Unsubsidized Loans for all students
6.80
 
PLUS Loans (Direct Loan)
7.90
 
PLUS Loans (FFEL)
8.50

NOTE: Beginning with loans first disbursed on or after July 1, 2006, the interest rate on all Stafford Loans in both the FFEL Program and in the Direct Loan Program was fixed at 6.8 percent. That rate continues to apply to all unsubsidized Stafford Loans and to subsidized Stafford Loans for graduate and professional students. Starting with loans first disbursed between July 1, 2008 and June 30, 2009, the interest rate on subsidized Stafford Loans for undergraduate students was reduced to 6.0 percent, with additional reductions each year through June 30, 2012.


Variable Rates:

Direct Loan and FFEL Program 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 31, 2011, plus certain statutory percentage add-ons. The 91-day Treasury bills were auctioned at 0.061 percent, rounded to 0.06 percent.


LOAN TYPE
LOAN STATUS
For the Period
July 1, 2010 to
June 30, 2011
For the Period
July 1, 2011 to
June 30, 2012
 
Subsidized and
Unsubsidized Loans		 Repayment or Forbearance
2.47
2.36
In-school, Grace, or Deferment
1.87
1.76
 
PLUS Loans All Statuses
3.27
3.16

Notes:

  • Interest rates on Stafford and PLUS loans first 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 of one percent, not to exceed 8.25 percent.
Last updated/reviewed July 18, 2011

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