FFEL Interest Rates Effective July 1, 2008
Loans First Disbursed on or After July 1, 2006
Loan Type |
Grade Level |
Program |
FFEL |
7/1/2006 to
6/30/2008 |
7/1/2008 to
6/30/2009 |
Subsidized Loans |
Undergraduate |
6.80 |
6.00 |
Graduate |
6.80 |
6.80 |
Unsubsidized
Loans |
Undergraduate |
6.80 |
6.80 |
Graduate |
6.80 |
6.80 |
PLUS Loans |
All |
8.50 |
8.50 |
Variable Rates for 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 27, 2008,
plus certain statutory percentage add-ons. The 91-day Treasury bills were
auctioned at 1.905 percent, rounded to 1.91 percent.
Loan Type |
Status |
Program |
FFEL |
7/1/2007 to
6/30/2008 |
7/1/2008 to
6/30/2009 |
Subsidized Loans |
Repayment or
Forbearance |
7.22 |
4.21 |
In-school, Grace, or
Deferment |
6.62 |
3.61 |
Unsubsidized
Loans |
Repayment or
Forbearance |
7.22 |
4.21 |
In-school, Grace, or
Deferment |
6.62 |
3.61 |
PLUS Loans |
All |
8.02 |
5.01 |
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%.
|
