Interest Rates

2019-2020

Loans first disbursed on, or after July 1, 2019, and prior to July 1, 2020

Subsidized/Unsubsidized Loan (Undergraduate Students): 4.53%

Unsubsidized Loan (Graduate/Professional Students): 6.08%

PLUS Loan (Parent, and Graduate/Professional students): 7.08% 

2018-2019 

Loans first disbursed on, or after July 1, 2018, and prior to July 1, 2019

Subsidized/Unsubsidized Loan (Undergraduate Students): 5.05%

Unsubsidized Loan (Graduate/Professional Students): 6.60%

PLUS Loan (Parent; and Graduate/Professional students): 7.60% 

Interest rates are established each year. There are also interest rate caps:

  • 8.25% for Direct Subsidized loans and Direct Unsubsidized loans for undergraduate students 
  • 9.50% for Direct Unsubsidized loans for graduate/professional students.

The interest rates are calculated using a base 10-year Treasury Note Index of 1.710% plus an add-on amount for each loan program

  • 2.05% for Direct Subsidized loans and Direct Unsubsidized loans for undergraduate students 
  • 3.60% for Direct Unsubsidized loans for graduate/professional students

Interest rates and rate accural

Type of Loan

Interest rates for 2019-20    Academic Year

Daily accrual while in school on a  $10,000 loan

Daily accrual after 6 Month Grace Period on a  $10,000 loan

Federal Direct Stafford Subsidized

4.53%*

*$0

$1.24 per day

Federal Direct Stafford Unsubsidized (Undergrad)

4.53%

$1.24 per day

$1.24 per day

Federal Direct Stafford Unsubsidized (Graduate Student)

6.08%

$1.66 per day

$1.66 per day

Federal Direct PLUS (Grad or Parent)

7.08%

$1.94 per day

$1.94 per day

Alternative Loan

Varies by credit       4-15%

$1.09-$4.10 per day

$1.09-$4.10 per day

*Subsidized loans do not accrue interest while student is enrolled at least half time or during the 6 month grace period after graduation.

For more information about federal loans, visit studentaid.ed.gov