Know Your Loans
As a loan borrower, it is important to know the details of your student loans.
2019-2020 Interest Rates
| Federal Student Loan Interest Rates (Fixed) *See Note 1 | ||
|---|---|---|
| July 1, 2019 and June 30, 2020 New Interest Rate | July 1, 2018 and June 30, 2019 Expiring Interest Rate | |
| Direct Subsidized Student Loan (Undergraduate Students) | 4.53% | 5.05% |
| Direct Unsubsidized Student Loan (Undergraduate Students) | 4.53% | 5.05% |
| Direct Unsubsidized Student Loan (Graduate & Professional Students) | 5.60% | 6.08% |
| Direct Graduate-PLUS Loan (Graduate & Professional Students) | 7.08% | 7.60% |
| Direct Parent-PLUS Loan (For Undergraduate Students) | 7.08% | 7.60% |
| Federal Student Loan Origination Fees *See Note 2 | ||
|---|---|---|
| October 1, 2018-September 30, 2018 New Origination Fee | October 1, 2017-September 30, 2018 Expiring Origination Fee | |
| Direct Subsidized Student Loan (Undergraduate Students) | 1.062% | 1.066% |
| Direct Unsubsidized Student Loan (Undergraduate Students) | 1.062% | 1.066% |
| Direct Unsubsidized Student Loan (Graduate & Professional Students) | 1.062% | 1.066% |
| Direct Graduate-PLUS Loan (Graduate & Professional Students) | 4.248% | 4.264% |
| Direct Parent-PLUS Loan (For Undergraduate Students) | 4.248% | 4.264% |
Note 1. Interest rates change effective July 1 each year but remain fixed for the life of the loan.
Note 2. Origination fees change on October 1 each year for any non-originated loans for that year.
What is the Interest Rate on a Federal Direct student loan?
Federal Student Loan Limits
Loan Servicing
- Once your Federal Loans are originated, you will be assigned a loan servicer by the Department of Education. Servicers will help you manage the repayment of your federal student loans.
- To find out who your loan servicer is, log onto nslds.ed.gov using your FSA ID and password.
Loan Consolidation
- When you go into loan repayment, it may be in your best interest to consolidate your student loans.
- Visit studentaid.ed.gov/sa/repay-loans/consolidation for more information about federal loan consolidation.
Loan Repayment
- Once you graduate, leave school, or drop below half-time enrollment, you will be required to begin repayment.
- To learn more about Loan Repayment and the various repayment plans, visit studentaid.ed.gov/sa/repay-loans