New, lower interest rates for federal student and parent loans for the 2015-2016 academic year went into effect July 1, 2015.
Direct Stafford Subsidized Loans for Undergraduates interest rate is 4.29%
Direct Stafford Unsubsidized Loan for Undergraduates interest rate is 4.29%
Direct Stafford Unsubsidized Loan for Graduate/Professional programs interest rate is 5.84%
Parent Loan for Undergraduate Students (PLUS) interest rate is 6.84%
The 2015-2016 rates are .37% lower than the previous 2014-2015 rates saving students approximately $118 on $5,500 Direct Stafford loan with a 10-year repayment schedule. Interest rates are based on the yield return of the 10-year Treasury Note at the spring auction each year.