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Important Announcements

A federal court issued an injunction preventing the U.S. Department of Education from implementing parts of the Saving on a Valuable Education (SAVE) Plan and parts of other income-driven repayment (IDR) plans. Further developments are possible while the SAVE Plan remains under litigation. Please check StudentAid.gov/saveaction and Ed.gov/SAVE for additional information as developments occur.

Interest Rates for Federal Student Loans

Interest rates are subject to change on July 1st of each year. All federal student loans first disbursed on or after July 1, 2006 have a fixed interest rate for the life of the loan. Below are charts detailing the changes in the FFEL and Direct Loan interest rates since July 1, 2006.

Direct Loans

07/01/24 - 6/30/25 6.53%
07/01/23 - 06/30/24 5.50%
07/01/22 - 06/30/23 4.99%
07/01/21 - 06/30/22 3.73%
07/01/20 - 06/30/21 2.75%
07/01/19 - 06/30/20 4.53%
07/01/18 - 06/30/19 5.05%
07/01/17 - 06/30/18 4.45%
07/01/16 - 06/30/17 3.76%
07/01/15 - 06/30/16 4.29%
07/01/14 - 06/30/15 4.66%
07/01/13 - 06/30/14 3.86%
07/01/11 - 06/30/13 3.40%
07/01/10 - 06/30/11 4.50%
07/01/09 - 06/30/10 5.60%
07/01/08 - 06/30/09 6.00%
07/01/07 - 06/30/08 6.80%

07/01/24 - 6/30/25 6.53%
07/01/23 - 06/30/24 5.50%
07/01/22 - 06/30/23 4.99%
07/01/21 - 06/30/22 3.73%
07/01/20 - 06/30/21 2.75%
07/01/19 - 06/30/20 4.53%
07/01/18 - 06/30/19 5.05%
07/01/17 - 06/30/18 4.45%
07/01/16 - 06/30/17 3.76%
07/01/15 - 06/30/16 4.29%
07/01/14 - 06/30/15 4.66%
07/01/13 - 06/30/14 3.86%
07/01/11 - 06/30/13 6.80%

07/01/12 and after --*
07/01/07 - 06/30/12 6.80%

*Graduate and professional students are not eligible for subsidized loans for loan periods beginning on or after July 1, 2012.

07/01/24 - 6/30/25 8.08%
07/01/23 - 06/30/24 7.05%
07/01/22 - 06/30/23 6.54%
07/01/21 - 06/30/22 5.28%
07/01/20 - 06/30/21 4.30%
07/01/19 - 06/30/20 6.08%
07/01/18 - 06/30/19 6.60%
07/01/17 - 06/30/18 6.00%
07/01/16 - 06/30/17 5.31%
07/01/15 - 06/30/16 5.84%
07/01/14 - 06/30/15 6.21%
07/01/13 - 06/30/14 5.41%
07/01/07 - 06/30/13 6.80%

07/01/24 - 6/30/25 9.08%
07/01/23 - 06/30/24 8.05%
07/01/22 - 06/30/23 7.54%
07/01/20 - 06/30/21 5.30%
07/01/19 - 06/30/20 7.08%
07/01/18 - 06/30/19 7.60%
07/01/17 - 06/30/18 7.00%
07/01/16 - 06/30/17 6.31%
07/01/15 - 06/30/16 6.84%
07/01/14 - 06/30/15 7.21%
07/01/13 - 06/30/14 6.41%
07/01/07 - 06/30/13 7.90%

FFELP Loans

Loans are no longer made under the FFEL Program effective June 30, 2010.

07/01/09 - 06/30/10 5.60%
07/01/08 - 06/30/09 6.00%
07/01/07 - 06/30/08 6.80%

07/01/06 - 06/30/10 6.80%

07/01/06 - 06/30/10 8.50%

Variable Interest Rate FFELP and Direct Loans

Interest rates on federal student loans that were first disbursed on or after 07/01/98 and before 06/30/06 are variable and adjusted annually on July 1, according to a formula set by Congress that is based on the results of the last Treasury Bill (T-Bill) auction in May. The interest rates listed in the table below apply to the above mentioned student and parent loans.

07/01/24 - 06/30/25 7.10%
07/01/23 - 06/30/24 7.16%
07/01/22 - 06/30/23 2.84%
07/01/21 - 06/30/22 1.72%
07/01/20 - 06/30/21 1.83%
07/01/19 - 06/30/20 4.06%
07/01/18 - 06/30/19 3.63%
07/01/17 - 06/30/18 2.68%
07/01/16 - 06/30/17 2.05%
07/01/15 - 06/30/16 1.72%
07/01/14 - 06/30/15 1.73%
07/01/13 - 06/30/14 1.75%
07/01/12 - 06/30/13 1.79%

07/01/24 - 06/30/25 7.70%
07/01/23 - 06/30/24 7.76%
07/01/22 - 06/30/23 3.44%
07/01/21 - 06/30/22 2.32%
07/01/20 - 06/30/21 2.43%
07/01/19 - 06/30/20 4.66%
07/01/18 - 06/30/19 4.23%
07/01/17 - 06/30/18 3.28%
07/01/16 - 06/30/17 2.65%
07/01/15 - 06/30/16 2.32%
07/01/14 - 06/30/15 2.33%
07/01/13 - 06/30/14 2.35%
07/01/12 - 06/30/13 2.39%

07/01/24 - 06/30/25 8.50%
07/01/23 - 06/30/24 8.56%
07/01/22 - 06/30/23 4.24%
07/01/21 - 06/30/22 3.12%
07/01/20 - 06/30/21 3.23%
07/01/19 - 06/30/20 5.46%
07/01/18 - 06/30/19 5.03%
07/01/17 - 06/30/18 4.08%
07/01/16 - 06/30/17 3.45%
07/01/15 - 06/30/16 3.12%
07/01/14 - 06/30/15 3.13%
07/01/13 - 06/30/14 3.15%
07/01/12 - 06/30/13 3.19%

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