Fixed Rates for Loans First Disbursed on or After July 1, 2008
Interest is paid on your behalf by the government while you are enrolled at least half-time and during grace or deferment periods.
Undergraduate |
Graduate |
6.0%* |
6.8% |
Interest accrues upon disbursement and can be paid while you are in school, or deferred until you begin repayment. Interest is capitalized and added to the principal amount outstanding, if you choose the deferred option.
Undergraduate |
Graduate |
6.8% |
6.8% |
Interest begins to accrue upon disbursement. Repayment begins 60 days after the loan is fully disbursed.
Undergraduate |
Graduate |
8.5% |
8.5% |
*Subsidized Undergraduate interest rate from 7/1/2006 to 6/30/2008 is 6.8% |
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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.
Repayment or Forbearance |
In-school, Grace, or Deferment |
7/1/2007 to 6/30/2008: 7.22%
7/1/2008 to 6/30/2009: 4.21% |
7/1/2007 to 6/30/2008: 6.62%
7/1/2008 to 6/30/2009: 3.61% |
Repayment or Forbearance |
In-school, Grace, or Deferment |
7/1/2007 to 6/30/2008: 7.22%
7/1/2008 to 6/30/2009: 4.21% |
7/1/2007 to 6/30/2008: 6.62%
7/1/2008 to 6/30/2009: 3.61% |
Repayment or Forbearance |
In-school, Grace, or Deferment |
7/1/2007 to 6/30/2008: 8.02%
7/1/2008 to 6/30/2009: 5.01% |
7/1/2007 to 6/30/2008: 8.02%
7/1/2008 to 6/30/2009: 5.01% |
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