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Remediation Refunds

If you were recently notified that your student loan account was placed into an administrative forbearance for the months of October through December 2023, and you would like to have any payment(s) you made during these months refunded to you, you have 90 calendar days from the date shown on your notification to contact us to request a refund.

Important Updates

News of Note

Explore affordable repayment plans, including the new Saving on a Valuable Education (SAVE) Plan (formerly the REPAYE plan). To learn more about the SAVE plan and other student loan benefits, use the Loan Simulator Tool at StudentAid.gov.


Be on the Lookout for Updates

In Spring 2024, you will see improvements to your experience in managing your federal student loans. Beginning March 11, 2024, we will release updates to the look and feel of our website and you will then need to visit us at our new web address, Edfinancial.StudentAid.gov. Additionally, our emails will now come from .gov email addresses. 

Interest rates are subject to change on July 1st of each year. All federal student loans first disbursed on or after July 1, 2006 have a fixed interest rate for the life of the loan. Below are charts detailing the changes in the FFEL and Direct Loan interest rates since July 1, 2006.

Direct Loans

07/01/23 - 06/30/24 5.50%
07/01/22 - 06/30/23 4.99%
07/01/21 - 06/30/22 3.73%
07/01/20 - 06/30/21 2.75%
07/01/19 - 06/30/20 4.53%
07/01/18 - 06/30/19 5.05%
07/01/17 - 06/30/18 4.45%
07/01/16 - 06/30/17 3.76%
07/01/15 - 06/30/16 4.29%
07/01/14 - 06/30/15 4.66%
07/01/13 - 06/30/14 3.86%
07/01/11 - 06/30/13 3.40%
07/01/10 - 06/30/11 4.50%
07/01/09 - 06/30/10 5.60%
07/01/08 - 06/30/09 6.00%
07/01/07 - 06/30/08 6.80%

07/01/23 - 06/30/24 5.50%
07/01/22 - 06/30/23 4.99%
07/01/21 - 06/30/22 3.73%
07/01/20 - 06/30/21 2.75%
07/01/19 - 06/30/20 4.53%
07/01/18 - 06/30/19 5.05%
07/01/17 - 06/30/18 4.45%
07/01/16 - 06/30/17 3.76%
07/01/15 - 06/30/16 4.29%
07/01/14 - 06/30/15 4.66%
07/01/13 - 06/30/14 3.86%
07/01/11 - 06/30/13 6.80%

07/01/12 and after --*
07/01/07 - 06/30/12 6.80%

07/01/23 - 06/30/24 7.05%
07/01/22 - 06/30/23 6.54%
07/01/21 - 06/30/22 5.28%
07/01/20 - 06/30/21 4.30%
07/01/19 - 06/30/20 6.08%
07/01/18 - 06/30/19 6.60%
07/01/17 - 06/30/18 6.00%
07/01/16 - 06/30/17 5.31%
07/01/15 - 06/30/16 5.84%
07/01/14 - 06/30/15 6.21%
07/01/13 - 06/30/14 5.41%
07/01/07 - 06/30/13 6.80%

07/01/23 - 06/30/24 8.05%
07/01/22 - 06/30/23 7.54%
07/01/20 - 06/30/21 5.30%
07/01/19 - 06/30/20 7.08%
07/01/18 - 06/30/19 7.60%
07/01/17 - 06/30/18 7.00%
07/01/16 - 06/30/17 6.31%
07/01/15 - 06/30/16 6.84%
07/01/14 - 06/30/15 7.21%
07/01/13 - 06/30/14 6.41%
07/01/07 - 06/30/13 7.90%

FFELP Loans

Loans are no longer made under the FFEL Program effective June 30, 2010.

07/01/09 - 06/30/10 5.60%
07/01/08 - 06/30/09 6.00%
07/01/07 - 06/30/08 6.80%

07/01/06 - 06/30/10 6.80%

07/01/06 - 06/30/10 8.50%

Variable Interest Rate FFELP and Direct Loans

Interest rates on federal student loans that were first disbursed on or after 07/01/98 and before 06/30/06 are variable and adjusted annually on July 1, according to a formula set by Congress that is based on the results of the last Treasury Bill (T-Bill) auction in May. The interest rates listed in the table below apply to the above mentioned student and parent loans.

07/01/23 - 06/30/24 7.16%
07/01/22 - 06/30/23 2.84%
07/01/21 - 06/30/22 1.72%
07/01/20 - 06/30/21 1.83%
07/01/19 - 06/30/20 4.06%
07/01/18 - 06/30/19 3.63%
07/01/17 - 06/30/18 2.68%
07/01/16 - 06/30/17 2.05%
07/01/15 - 06/30/16 1.72%
07/01/14 - 06/30/15 1.73%
07/01/13 - 06/30/14 1.75%
07/01/12 - 06/30/13 1.79%

07/01/23 - 06/30/24 7.76%
07/01/22 - 06/30/23 3.44%
07/01/21 - 06/30/22 2.32%
07/01/20 - 06/30/21 2.43%
07/01/19 - 06/30/20 4.66%
07/01/18 - 06/30/19 4.23%
07/01/17 - 06/30/18 3.28%
07/01/16 - 06/30/17 2.65%
07/01/15 - 06/30/16 2.32%
07/01/14 - 06/30/15 2.33%
07/01/13 - 06/30/14 2.35%
07/01/12 - 06/30/13 2.39%

07/01/23 - 06/30/24 8.56%
07/01/22 - 06/30/23 4.24%
07/01/21 - 06/30/22 3.12%
07/01/20 - 06/30/21 3.23%
07/01/19 - 06/30/20 5.46%
07/01/18 - 06/30/19 5.03%
07/01/17 - 06/30/18 4.08%
07/01/16 - 06/30/17 3.45%
07/01/15 - 06/30/16 3.12%
07/01/14 - 06/30/15 3.13%
07/01/13 - 06/30/14 3.15%
07/01/12 - 06/30/13 3.19%

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