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Publication Date:
May 2006
Author: Chief Operating
Officer, Federal Student Aid
Summary: Interest
Rates for Stafford and PLUS Loans in the Direct Loan and Federal Family
Education Loan Programs Effective July 1, 2006
Posted on 05-31-2006
Interest
Rates for Loans First Disbursed on or After July 1, 2006
|
Loan
Type
|
Status
|
Program
|
|
7/1/2006
to 6/30/2007
|
|
Direct
Loans
|
FFEL
|
|
Subsidized
Loans
|
|
6.80
|
6.80
|
|
In-school,
Grace, or Deferment
|
6.80
|
6.80
|
|
Unsubsidized
Loans
|
Repayment
or Forbearance
|
6.80
|
6.80
|
|
|
6.80
|
6.80
|
|
PLUS
Loans
|
All
|
7.90
|
8.50
|
The
2006-2007 rates were calculated based upon statutory formulas and equal
the bond equivalent rate of the 91-day Treasury bills auctioned on May
30, 2006, plus certain statutory percentage add-ons.
The 91-day Treasury bills were auctioned at 4.843 percent, rounded to
4.84 percent.
|
Loan
Type
|
Status
|
Program
|
|
Direct
Loans
|
FFEL
|
|
7/1/2005
to 6/30/2006
|
7/1/2006
to 6/30/2007
|
7/1/2005
to 6/30/2006
|
7/1/2006
to 6/30/2007
|
|
Subsidized
Loans
|
|
5.30
|
7.14
|
5.30
|
7.14
|
|
In-school,
Grace, or Deferment
|
4.70
|
6.54
|
4.70
|
6.54
|
|
Unsubsidized
Loans
|
Repayment
or Forbearance
|
5.30
|
7.14
|
5.30
|
7.14
|
|
|
4.70
|
6.54
|
4.70
|
6.54
|
|
PLUS
Loans
|
All
|
6.10
|
7.94
|
6.10
|
7.94
|
Notes:
- Interest
rates on Stafford and PLUS loans disbursed before July 1, 1998, are
calculated using different statutory formulas and/or percentage add-ons.
- Generally,
interest rates on Consolidation Loans are fixed rates calculated as
the weighted average of the loans being consolidated rounded up to the
next higher 1/8 percent, not to exceed 8.25%.
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