Student Loan Program Interest Rates
While the interest rate on student loans first disbursed on or after July 1, 2006 is fixed,
student loans borrowed prior to July 1, 2006 had variable interest rates.
Interest rates, as released by the U.S. Department of Education, for Federal Stafford Loans borrowed between July 1, 1998, and June 30, 2006, are indicated on line #4 of the following chart and Federal PLUS Loans borrowed during that same time period, are indicated on line #7.
# |
Loan Type |
Date Disbursed |
Effective For |
Interest Cap |
T-Bill /1-yr Constant Maturity + Factor = |
Interest Rate for 07/01/07 - 06/30/08 |
1 |
Stafford |
10/01/92 to 06/30/94 |
new borrowers |
9% |
1.91 |
3.1 |
5.01% |
2 |
Stafford |
07/01/94 to 06/30/95 |
all new loans |
8.25% |
1.91 |
3.1 |
5.01% |
3 |
Stafford |
07/01/95 to 06/30/98 |
all new loans |
8.25% |
1.91 |
2.5 *
3.1 ** |
4.41%
5.01% |
4 |
Stafford |
07/01/98 to 06/30/06 |
all new loans |
8.25% |
1.91 |
1.7 *
2.3 ** |
3.61% *
4.21% ** |
5 |
PLUS |
10/01/92 to 06/30/94 |
new loans |
10% |
4.95 |
3.1 |
8.05% |
6 |
PLUS |
07/01/94 to 06/30/98 |
new loans |
9% |
4.95 |
3.1 |
8.05% |
7 |
PLUS |
07/01/98 to 06/30/06 |
new loans |
9% |
1.91 |
3.1 |
5.01% |
* during interim, grace, and authorized deferment periods
** during repayment periods
