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Current FFELP Loan Interest Rates
July 1, 2007
The following fixed interest rates are applicable to new Stafford and PLUS loans disbursed on or after July 1, 2006.
| Graduate Stafford loans disbursed on or after 7/1/06 |
6.8% |
| Undergraduate Unsubsidized Stafford loans disbursed on or after 7/1/06 |
6.8% |
| Undergraduate Subsidized Stafford loans disbursed on or after 7/1/06 |
6.8% |
| Undergraduate Subsidized Stafford loans disbursed on or after 7/1/08 |
6.0% |
| Undergraduate Subsidized Stafford loans disbursed on or after 7/1/09 |
5.6% |
| Undergraduate Subsidized Stafford loans disbursed on or after 7/1/10 |
4.5% |
| Undergraduate Subsidized Stafford loans disbursed on or after 7/1/11 |
3.4% |
| Undergraduate Subsidized Stafford loans disbursed on or after 7/1/12 |
6.8% |
| PLUS loans disbursed on or after 7/1/06 |
8.5% |
The following variable interest rates are applicable to Stafford and PLUS loans disbursed prior to July 1, 2006 and are determined using an applicable Treasury rate plus a factor established by law. For the period beginning July 1, 2007 through June 30, 2008, the Treasury rates to be used in calculating your variable student loan interest rates are:
- 191 Day T-Bill = 4.92%
- 2Weekly average of the one-year constant maturity Treasury (CMT) yield for the last calendar week ending on or before 6/26/07
- 3The average of the bond-equivalent rate established for 91-day Tbills auctioned for the quarter ending 6/30/07
| Stafford Loans: |
| Affected Loans |
Interest Rate Calculation |
7/1/07 - 6/30/08 Rate |
| Stafford loans made on or after 7/1/98, during school, grace, and deferment periods, but prior to 7/1/06.1 |
4.92 + 1.70 = |
6.62% |
| Stafford loans made on or after 7/1/98, during repayment and forbearance periods, but prior to 7/1/06.1 |
4.92 + 2.30 = |
7.22% |
| Stafford loans made 7/1/95 - 6/30/98, during school, grace, and deferment periods.1 |
4.92 + 2.50 = |
7.42% |
| Stafford loans made 7/1/95 - 6/30/98, during repayment and forbearance periods.1 |
4.92 + 3.10 = |
8.02% |
| Stafford loans made 7/1/94 - 6/30/95, all loans disbursed.1 |
4.92 + 3.10 = |
8.02% |
| Stafford loans made 10/1/92 - 6/30/94, to new borrowers.1 |
4.92 + 3.10 = |
8.02% |
| For questions about interest rates for Stafford loans made prior to 10/1/92, please contact Customer Service at 1-888-486-4722. |
| PLUS Loans: |
| Affected Loans |
Interest Rate Calculation |
7/1/07 - 6/30/08 Rate |
| PLUS loans made on or after 7/1/98, but prior to 7/1/06.2 |
4.92 + 3.10 = |
8.02% |
| PLUS loans made on or after 10/1/92 but prior to 7/1/98.2 |
4.95 + 3.10 = |
8.05% |
| PLUS loans made on or after 7/1/87 but prior to 10/1/92.2 |
4.95 + 3.25 = |
8.20% |
| SLS Loans: |
| Affected Loans |
Interest Rate Calculation |
7/1/06 - 6/30/07 Rate |
| SLS loans made on or after 10/1/92 but prior to 7/1/94.2 |
4.95 + 3.10 = |
8.05% |
| SLS loans made on or after 7/1/87 but prior to 10/1/92.2 |
4.95 + 3.25 = |
8.20% |
| Consolidation Loans: |
| Calculating Weighted Average Interest Rates for Consolidation Loans |
- Outstanding principal balance (OPB) of all eligible loans to be consolidated x current interest rate = yearly interest amount (YIA) (this is calculated for every loan the borrower is adding to the consolidation)
- Total YIA/Total OPB = Weighted Interest Rate (WIR) (in decimal format)
- Decimal is converted to a percent (out 3 places)
- WIR is rounded up to the nearest 1/8th of 1% (this is the consolidation rate)
*The HEAL portion of Consolidation loans: A variable rate loan for applications received by the lender on or after 11/13/97.
The current rate on the HEAL is 7.90% for loan period 7/1/07-6/30/08.3
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