Interest Rates and Origination Fees
The following two charts are from the Department of Education’s website: http://www.dl.ed.gov.
| Loan Type |
Date of First Disbursement |
Fixed Interest Rate |
| Direct Subsidized and Unsubsidized Loans |
7/1/15-6/30/16
7/1/14-6/30/15
7/1/13-6/30/14 |
4.29%
4.66%
3.86% |
| Direct Unsubsidized Loans |
7/1/06-6/30/13 |
6.80% |
| Direct Subsidized Loans |
7/1/11-6/30/13
7/1/10-6/30/11
7/1/09-6/30/10
7/1/08-6/30/09
7/1/06-6/30/08
|
3.40%
4.50%
5.60%
6.00%
6.80%
|
| Direct PLUS Loans (Parents) |
7/1/15-6/30/16
4/1/14-6/30/15
7/1/13-6/30/14
7/1/06-6/30/13 |
6.84%
7.21%
6.41%
7.90% |
| Please Note: The actual interest rate and loan fee will be included in a disclosure statement the student will receive before the first disbursement of the loan. |
|
The loan fee, or borrower origination fee, is another expense of borrowing a Direct Loan. The loan fee is subtracted proportionately from each loan disbursement. The loan origination fee for Direct (Subsidized and Unsubsidized) Loans will be reduced annually according to the following schedule:
| Loan Type |
Date of First Disbursement |
Origination Fee |
| Direct Subsidized and Unsubsidized Loans |
10/1/15 - 9/30/16
10/1/14 - 9/30/15 |
1.068%
1.073% |
| Direct PLUS Loans (Parents) |
10/1/15 - 9/30/16
10/1/14 - 9/30/15 |
4.272%
4.292% |