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Important Announcement

On July 18, 2024, a federal court issued a stay preventing the Department from operating the Saving on a Valuable Education (SAVE) Plan. The Department of Education is assessing the ruling and will be in touch directly with borrowers about how this will affect them. In the meantime, you can visit StudentAid.gov/saveaction for the latest information.

Interest Rates for Federal Student Loans

Interest rates are subject to change on July 1st of each year. All federal student loans first disbursed on or after July 1, 2006 have a fixed interest rate for the life of the loan. Below are charts detailing the changes in the FFEL and Direct Loan interest rates since July 1, 2006.

Direct Loans

07/01/24 - 6/30/25 6.53%
07/01/23 - 06/30/24 5.50%
07/01/22 - 06/30/23 4.99%
07/01/21 - 06/30/22 3.73%
07/01/20 - 06/30/21 2.75%
07/01/19 - 06/30/20 4.53%
07/01/18 - 06/30/19 5.05%
07/01/17 - 06/30/18 4.45%
07/01/16 - 06/30/17 3.76%
07/01/15 - 06/30/16 4.29%
07/01/14 - 06/30/15 4.66%
07/01/13 - 06/30/14 3.86%
07/01/11 - 06/30/13 3.40%
07/01/10 - 06/30/11 4.50%
07/01/09 - 06/30/10 5.60%
07/01/08 - 06/30/09 6.00%
07/01/07 - 06/30/08 6.80%

07/01/24 - 6/30/25 6.53%
07/01/23 - 06/30/24 5.50%
07/01/22 - 06/30/23 4.99%
07/01/21 - 06/30/22 3.73%
07/01/20 - 06/30/21 2.75%
07/01/19 - 06/30/20 4.53%
07/01/18 - 06/30/19 5.05%
07/01/17 - 06/30/18 4.45%
07/01/16 - 06/30/17 3.76%
07/01/15 - 06/30/16 4.29%
07/01/14 - 06/30/15 4.66%
07/01/13 - 06/30/14 3.86%
07/01/11 - 06/30/13 6.80%

07/01/12 and after --*
07/01/07 - 06/30/12 6.80%

*Graduate and professional students are not eligible for subsidized loans for loan periods beginning on or after July 1, 2012.

07/01/24 - 6/30/25 8.08%
07/01/23 - 06/30/24 7.05%
07/01/22 - 06/30/23 6.54%
07/01/21 - 06/30/22 5.28%
07/01/20 - 06/30/21 4.30%
07/01/19 - 06/30/20 6.08%
07/01/18 - 06/30/19 6.60%
07/01/17 - 06/30/18 6.00%
07/01/16 - 06/30/17 5.31%
07/01/15 - 06/30/16 5.84%
07/01/14 - 06/30/15 6.21%
07/01/13 - 06/30/14 5.41%
07/01/07 - 06/30/13 6.80%

07/01/24 - 6/30/25 9.08%
07/01/23 - 06/30/24 8.05%
07/01/22 - 06/30/23 7.54%
07/01/20 - 06/30/21 5.30%
07/01/19 - 06/30/20 7.08%
07/01/18 - 06/30/19 7.60%
07/01/17 - 06/30/18 7.00%
07/01/16 - 06/30/17 6.31%
07/01/15 - 06/30/16 6.84%
07/01/14 - 06/30/15 7.21%
07/01/13 - 06/30/14 6.41%
07/01/07 - 06/30/13 7.90%

FFELP Loans

Loans are no longer made under the FFEL Program effective June 30, 2010.

07/01/09 - 06/30/10 5.60%
07/01/08 - 06/30/09 6.00%
07/01/07 - 06/30/08 6.80%

07/01/06 - 06/30/10 6.80%

07/01/06 - 06/30/10 8.50%

Variable Interest Rate FFELP and Direct Loans

Interest rates on federal student loans that were first disbursed on or after 07/01/98 and before 06/30/06 are variable and adjusted annually on July 1, according to a formula set by Congress that is based on the results of the last Treasury Bill (T-Bill) auction in May. The interest rates listed in the table below apply to the above mentioned student and parent loans.

07/01/24 - 06/30/25 7.10%
07/01/23 - 06/30/24 7.16%
07/01/22 - 06/30/23 2.84%
07/01/21 - 06/30/22 1.72%
07/01/20 - 06/30/21 1.83%
07/01/19 - 06/30/20 4.06%
07/01/18 - 06/30/19 3.63%
07/01/17 - 06/30/18 2.68%
07/01/16 - 06/30/17 2.05%
07/01/15 - 06/30/16 1.72%
07/01/14 - 06/30/15 1.73%
07/01/13 - 06/30/14 1.75%
07/01/12 - 06/30/13 1.79%

07/01/24 - 06/30/25 7.70%
07/01/23 - 06/30/24 7.76%
07/01/22 - 06/30/23 3.44%
07/01/21 - 06/30/22 2.32%
07/01/20 - 06/30/21 2.43%
07/01/19 - 06/30/20 4.66%
07/01/18 - 06/30/19 4.23%
07/01/17 - 06/30/18 3.28%
07/01/16 - 06/30/17 2.65%
07/01/15 - 06/30/16 2.32%
07/01/14 - 06/30/15 2.33%
07/01/13 - 06/30/14 2.35%
07/01/12 - 06/30/13 2.39%

07/01/24 - 06/30/25 8.50%
07/01/23 - 06/30/24 8.56%
07/01/22 - 06/30/23 4.24%
07/01/21 - 06/30/22 3.12%
07/01/20 - 06/30/21 3.23%
07/01/19 - 06/30/20 5.46%
07/01/18 - 06/30/19 5.03%
07/01/17 - 06/30/18 4.08%
07/01/16 - 06/30/17 3.45%
07/01/15 - 06/30/16 3.12%
07/01/14 - 06/30/15 3.13%
07/01/13 - 06/30/14 3.15%
07/01/12 - 06/30/13 3.19%

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