Interest Rates for Federal Student Loans
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. Not sure of your loan type? Read more.
Direct Loans
Subsidized Loans for Undergraduate Students
| 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 |
3.4% |
| 07/01/10 - 06/30/11 |
4.5% |
| 07/01/09 - 06/30/10 |
5.6% |
| 07/01/08 - 06/30/09 |
6.0% |
| 07/01/07 - 06/30/08 |
6.8% |
Unsubsidized Loans for Undergraduate Students
| 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% |
| 07/01/07 - 06/30/13 |
6.8% |
Subsidized Loans for Graduate and Professional Students
| 07/01/12 and after |
--* |
| 07/01/07 - 06/30/12 |
6.8% |
* Graduate and professional students are not eligible for subsidized loans for loan periods beginning on or after July 1, 2012.
Unsubsidized Loans for Graduate and Professional Students
| 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 |
6.8% |
Parent PLUS Loans and Graduate PLUS Loans
| 07/01/22 - 06/30/23 |
7.54% |
| 07/01/21 - 06/30/22 |
6.28% |
| 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 |
7.9% |
FFELP Loans
Loans are no longer made under the FFEL Program effective June 30, 2010.
Subsidized Stafford Loans for Undergraduate Students
| 07/01/09 - 06/30/10 |
5.6% |
| 07/01/08 - 06/30/09 |
6.0% |
| 07/01/07 - 06/30/08 |
6.8% |
Unsubsidized Stafford Loans for Undergraduate, Graduate and Professional Students
Parent PLUS Loans and Graduate PLUS Loans
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.
Federal Loans (Subsidized and Unsubsidized)
In-school, Grace and Deferment Periods
| 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% |
Federal Loans (Subsidized and Unsubsidized)
During Repayment and Forbearance Periods
| 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% |
Federal Parent PLUS Loans
All periods
| 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% |