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Interest Rates for New 2021 Loans

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All interest rates on federal student loans are determined annually based on a formula set by Congress and are subject to change on July 1 of each year. Interest rates for new Direct Loans are established each year for loans first disbursed on or after July 1 through the following June 30. Find your loan type in the chart below in order to see your fixed rate for loans first disbursed on or after July 1, 2021.

Loan Type Borrower Type Interest Rate
Direct Subsidized Loans Undergraduate Students 3.73%
Direct Unsubsidized Loans Undergraduate Students 3.73%
Direct Unsubsidized Loans Graduate or Professional Students 5.28%
Direct PLUS Loans Parents and Graduate or Professional Students 6.28%

The interest rate for any fixed-rate loans you may have can be found in the "Loan Details" screen of Manage My Account.

Learn more about interest rates