Interest Rates

2018-2019 

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

Subsidized Loan (Undergraduate Students): 5.05%

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 2018-19    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

5.05%*

*$0

$1.38 per day

Federal Direct Stafford Unsubsidized (Undergrad)

5.05%

$1.38 per day

$1.38 per day

Federal Direct Stafford Unsubsidized (Graduate Student)

6.60%

$1.80 per day

$1.80 per day

Federal Direct PLUS (Grad or Parent)

7.60%

$2.08 per day

$2.08 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