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Interest Rates and Origination Fees

Interest rates are amounts charged to a borrower for the privilege of using the lender’s money. The interest is calculated as a percentage of the principal balance of the loan.

Origination fees are fees assessed by lenders to help offset the cost of processing the loan. The origination fee is assessed on each loan disbursement.

Federal Student Loan Interest Rates (fixed)
July 1, 2014 to June 30, 2015 July 1, 2013 to June 30, 2014
Direct Stafford Loan - Subsidized
(Undergraduate Students)
4.66% 3.86%
Direct Stafford Loan - Unsubsidized
(Undergraduate Students)
4.66% 3.86%
Direct Stafford Loan - Unsubsidized
(Graduate/ Professional Students)
6.21% 5.41%
Direct Parent PLUS Loan
7.21% 6.41%
Direct Graduate/ Professional PLUS Loan
7.21% 6.41%
Perkins Loan
5.00% 5.00%
HPSL
(Health Professions Loan)
5.00% 5.00%
Federal Student Loan Origination Fees
December 1, 2013 - September 30, 2014 July 1, 2013 - November 30, 2013
Direct Stafford Loan - Subsidized
(Undergraduate Students)
1.072% 1.051%
Direct Stafford Loan - Unsubsidized
(Undergraduate Students)
1.072% 1.051%
Direct Stafford Loan - Unsubsidized
(Graduate/ Professional Students)
1.072% 1.051%
Direct Parent PLUS Loan
4.288% 4.204%
Direct Graduate/ Professional PLUS Loan
4.288% 4.204%
Perkins Loan
0.00% 0.00%
HPSL
(Health Professions Loan)
0.00% 0.00%
Interest rates for loans are valid when the first disbursement of the loan occurs, not when you sign your Master Promissory Note(MPN).


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