Direct Loan Interest Rates – Effective July 1, 2013
Congress has passed and the President has signed the Bipartisan Student Loan Certainty Act of 2013, which ties federal student loan interest rates to financial markets. Under this Act, interest rates will be determined each June for new loans being made for the upcoming award year, which runs from July 1 to the following June 30. Each loan will have a fixed interest rate for the life of the loan.
For Graduate/Professional Students the interest rates for the 2013-2014 award year are:
Direct Unsubsidized Loan – 5.41%
Direct GradPLUS Loan – 6.41%
For more information on interest rates and fees for federal loan programs click here.