How do I know if my Direct Loans have variable interest rates?

You can tell if you have variable interest rate Direct Loans by visiting the Account Summary page on the Your Account section of this Web site. Look under Your Direct Loan, and click on your individual account number(s). You will be shown the interest rate for that loan.

  1. If there is not an asterisk before the interest rate, the loan has a variable interest rate.
  2. If there is an asterisk before the interest rate, then the loan interest rate is fixed and will not change on July 1st each year.