|
Publication Date:
May 30, 2007
Author: Jeff Baker,
Director Policy Liaison and Implementation, Federal Student Aid
Summary: FFEL and
Direct Loan Interest Rates Effective July 1, 2007
Posted on 05-30-2007
Loans
First Disbursed on or After July 1, 2006
|
Loan
Type
|
Status
|
Program
|
|
7/1/2007
to 6/30/2008
|
|
Direct
Loans
|
FFEL
|
|
Subsidized
Loans
|
Repayment
or Forbearance |
6.80
|
6.80
|
| In-School,
Grace, or Deferment |
6.80
|
6.80
|
|
Unsubsidized
Loans
|
Repayment or
Forbearance
|
6.80
|
6.80
|
| In-School,
Grace, or Deferment |
6.80
|
6.80
|
|
PLUS
Loans
|
All
|
7.90
|
8.50
|
Loans
First Disbursed Between July 1, 1998 and June 30, 2006
These rates were
calculated based upon statutory formulas and equal the bond equivalent
rate of the 91-day Treasury bills auctioned on May 29, 2007, plus certain
statutory percentage add-ons. The 91-day Treasury bills were auctioned
at 4.919 percent, rounded to 4.92 percent.
|
Loan
Type
|
Status
|
Program
|
|
Direct
Loans
|
FFEL
|
|
7/1/2006
to 6/30/2007
|
7/1/2007
to 6/30/2008
|
7/1/2006
to 6/30/2007
|
7/1/2007
to
6/30/2008
|
|
Subsidized
Loans
|
Repayment
or Forbearance |
7.14
|
7.22
|
7.14
|
7.22
|
| In-School,
Grace, or Deferment |
6.54
|
6.62
|
6.54
|
6.62
|
|
Unsubsidized
Loans
|
Repayment or
Forbearance
|
7.14
|
7.22
|
7.14
|
7.22
|
| In-School,
Grace, or Deferment |
6.54
|
6.62
|
6.54
|
6.62
|
|
PLUS
Loans
|
All
|
7.94
|
8.02
|
7.94
|
8.02
|
Notes:
- Interest rates
on Stafford and PLUS loans disbursed before July 1, 1998, are calculated
using different statutory formulas, percentage add-ons, or both.
- Generally, interest
rates on Consolidation Loans are fixed rates calculated based on 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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