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Student Financial Aid

Federal Student Loan Interest Rates

The interest rates for federal student loans are determined by federal law. If there are future changes to federal law that affect federal student loan interest rates, this information will be updated to reflect those changes.

Federal Direct Loan Interest Rates

Interest rates for loans disbursed from July 1, 2024 - June 30, 2025

Loan Type Interest Rate Origination Fee Grace Period Deferment Repayment
Subsidized 6.53% Fixed for Undergraduates

1.057%

 6 months You may receive a deferment if you are enrolled at least half-time or for unemployment or economic hardship. The 6-month grace period starts the day after you graduate, leave school or drop below half-time. You do not have to begin making payments until your grace period ends.
Unsubsidized 6.53% Fixed for Undergraduates

8.08% Fixed for Graduate or Professional Students
  • Interest Rates for loans disbursed from July 1, 2023 - June 30, 2024 (2023-2024 Academic Year)
    Loan Type Interest Rate Origination Fee Grace
    Period    		 Deferment Repayment
    Graduate PLUS 8.05% Fixed for a graduate student enrolled at least half-time 4.228%  There is no grace period for PLUS loans. You may receive a deferment if the student is enrolled at least half-time in a degree-seeking program of study. Repayment begins 60 days after you have received the last installment for the loan period.
    Parent PLUS 8.05% Fixed for a parent of a dependent undergraduate 4.228%  There is no grace period for PLUS loans. You may receive a deferment if the dependent student is enrolled at least half-time in a degree-seeking program of study. Repayment begins 60 days after you have received the last installment for the loan period.
    Subsidized 5.50% Fixed for Undergraduates
    1.057%    		 6 months You may receive a deferment if you are enrolled at least half-time or for unemployment or economic hardship. The 6-month grace period starts the day after you graduate, leave school or drop below half-time. You do not have to begin making payments until your grace period ends.
    Unsubsidized 5.5% Fixed for Undergraduates
     
    7.05% Fixed for Graduate or Professional Students

Federal Parent PLUS Loan Interest Rates

Interest Rates for loans disbursed from July 1, 2024 - June 30, 2025:

Loan Type Borrower Interest Rate Origination Fee Grace Period Deferment Repayment
Parent PLUS Parent of a dependent undergraduate 9.08% Fixed 4.228% There is no grace period for PLUS loans. You may receive a deferment if the dependent student is enrolled at least half-time in a degree-seeking program of study. Repayment begins 60 days after you have received the last installment for the loan period.

 

  • Interest Rates for loans disbursed from July 1, 2023 - June 30, 2024 (2023-2024 Academic Year)
    Loan Type Interest Rate Origination Fee Grace
    Period    		 Deferment Repayment
    Parent PLUS 8.05% Fixed for a parent of a dependent undergraduate 4.228%  There is no grace period for PLUS loans. You may receive a deferment if the dependent student is enrolled at least half-time in a degree-seeking program of study. Repayment begins 60 days after you have received the last installment for the loan period.

Federal Graduate PLUS Loans

Interest Rates for loans disbursed from July 1, 2024 -June 30, 2025:

Loan Type Borrower Interest Rate Origination Fee Grace Period Deferment Repayment
Graduate PLUS A graduate student enrolled at least half-time 9.08% Fixed

4.228%

 There is no grace period for PLUS loans You may receive a deferment if the student is enrolled at least half-time in a degree-seeking program of study. Repayment begins 60 days after you have received the last installment for the loan period.

 

  • Interest Rates for loans disbursed from July 1, 2023 - June 30, 2024 (2023-2024 Academic Year)
    Loan Type Interest Rate Origination Fee Grace
    Period    		 Deferment Repayment
    Graduate PLUS 8.05% Fixed for a graduate student enrolled at least half-time 4.228%  There is no grace period for PLUS loans. You may receive a deferment if the student is enrolled at least half-time in a degree-seeking program of study. Repayment begins 60 days after you have received the last installment for the loan period.