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Direct Loan Servicing

Direct Loan Consolidation



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Please read the description of each plan and the instructions for each data entry page carefully.

Budget calculator  Determine expenses and income in order to create a budget for college.

Current interest rates  For Stafford loans first disbursed between July 1, 1998, and June 30, 2006, the interest rate for the period July 1, 2008, through June 30, 2009, is 4.21% for loans in repayment and 3.61% during in-school, grace, and deferment periods. Similarly, for PLUS loans disbursed between July 1, 1998, and June 30, 2006, the interest rate is now 5.01%.

The interest rate for Stafford loans first disbursed on or after July 1, 2006, is a fixed 6.80%, with one exception: new subsidized Stafford loans disbursed on or after July 1, 2008, to undergraduate students have an interest rate of 6.00%. The interest rate for new PLUS loans is a fixed 7.90%. For Direct consolidation loan interest rates, see that rate page for information.

Description of repayment plans  There are four repayment plans: standard, extended, graduated, and income contingent. How much you pay and how long you take to repay your loans will vary depending on the repayment plan you choose. Consolidation loans also have varying repayment plans. Use the links below to determine your repayment amounts under each of the different plans.

Standard, extended, and graduated repayment plan calculator

Income contingent repayment plan calculator

Direct consolidation loan calculator