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)
| Loans disbursed July 1, 2023 - June 30, 2024 | Loans disbursed July 1, 2022 - June 30, 2023 | |
|---|---|---|
| Direct Subsidized Loan (Undergraduate Students) | 5.50% | 4.99% |
| Direct Unsubsidized Loan (Undergraduate Students) | 5.50% | 4.99% |
| Direct Loan - Unsubsidized (Graduate/ Professional Students) | 7.05% | 6.54% |
| Direct Parent PLUS Loan | 8.05% | 7.54% |
| Direct Graduate/ Professional PLUS Loan | 8.05% | 7.54% |
| HPSL (Health Professions Loan) | 5.00% | 5.00% |
Federal Student Loan Origination Fees
| Loans disbursed October 1, 2020 - September 30, 2024 | Loans disbursed October 1, 2019 - September 30, 2020 | |
|---|---|---|
| Direct Subsidized Loan (Undergraduate Students) | 1.057% | 1.059% |
| Direct Unsubsidized Loan (Undergraduate Students) | 1.057% | 1.059% |
| Direct Loan - Unsubsidized (Graduate/ Professional Students) | 1.057% | 1.059% |
| Direct Parent PLUS Loan | 4.228% | 4.236% |
| Direct Graduate/ Professional PLUS Loan | 4.228% | 4.236% |
| HPSL (Health Professions Loan) | 0.00% | 0.00% |