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
| Active Date | Interest Rate |
|---|---|
| 07/01/25 – 6/30/26 | 6.39% |
| 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% |
| Active Date | Interest Rate |
|---|---|
| 07/01/25 – 6/30/26 | 6.39% |
| 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% |
| Active Date | Interest Rate |
|---|---|
| 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.
| Active Date | Interest Rate |
|---|---|
| 07/01/25 – 6/30/26 | 7.94% |
| 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% |
| Active Date | Interest Rate |
|---|---|
| 07/01/25 – 6/30/26 | 8.94% |
| 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.
| Active Date | Interest Rate |
|---|---|
| 07/01/09 – 06/30/10 | 5.60% |
| 07/01/08 – 06/30/09 | 6.00% |
| 07/01/07 – 06/30/08 | 6.80% |
| Active Date | Interest Rate |
|---|---|
| 07/01/06 – 06/30/10 | 6.80% |
| Active Date | Interest Rate |
|---|---|
| 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.
| Active Date | Interest Rate |
|---|---|
| 07/01/25 – 6/30/26 | 6.06% |
| 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% |
| Active Date | Interest Rate |
|---|---|
| 07/01/25 – 6/30/26 | 6.66% |
| 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% |
| Active Date | Interest Rate |
|---|---|
| 07/01/25 – 6/30/26 | 7.46% |
| 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% |