The current rate for 2020-21 PLUS loans is 5.30%. Student loan interest rates are set for the following year based on the May 10-year treasury auction, plus an add-on interest rate. Loan Amount The original principal on a new loan or principal remaining on an existing loan. Interest Rate The annual nominal interest rate, or stated rate of the loan. Loan Status – Any Status; Disbursement Date: Rate: 7/1/20 - 6/30/21: 2.75%: 7/1/19 - 6/30/20: 4.53%: 7/1/18 - 6/30/19: 5.05%: 7/1/17 - 6/30/18: 4.45%: The new interest rate is based on the last 10-year Treasury Note Auction in May. Loan interest is usually expressed in APR, or annual percentage rate, which include both interest and fees. For most loans, interest is paid in addition to principal repayment. Direct Unsubsidized Loans for undergraduates – … To be eligible, the borrower must have a child enrolled at least half-time in a Title IV school. PLUS loans come with an interest rate that’s fixed for the life of the loan, which means you’ll know exactly how much you’ll pay in interest in the long run. PLUS loans have fixed interest rates for the life of the loan. Interest rates for fixed-rate undergraduate subsidized FFELP and FDLP Stafford loans. As of July 1, 2015, the current interest rate for Parent PLUS loans is 6.84%. Federal student loan interest rates for the fall are determined by the 10-year Treasury note auction every May plus a fixed increase with a cap. Rates on direct loans for graduates moved to 4.30% from 6.08%; Parent PLUS and grad PLUS rates dropped to 5.30%, down from 7.08% currently; Overall, U.S. student borrowers could collectively save more than $79 million a month in interest payments on their 2020-21 loans (close to $9.5 billion over the life of the loans) The interest rates on Federal PLUS Loans are fixed rates that change only for new loans each July 1. Your interest rate will vary depending on the year you borrow. PLUS loans carry a fixed interest rate for their entire term. Enter the interest rate for the PLUS loan. Plus, parent borrowers can’t have an adverse credit history. Interest rates on loans disbursed after July 1, 2020 (and before July 1, 2021) are set at 5.30%, or about 2 ½ percentage points higher than the interest rate on a direct subsidized loan. Graduate Stafford loans will have an interest rate of 4.3% this school year, down from around 6.1%, and grad PLUS and parent PLUS loans will be set at 5.3%, a decline from around 7.1%. They are typically repaid over 10 years, although there is also an extended payment plan that … The interest rate on the Federal PLUS Loan is the same for both Federal Parent PLUS Loans and Federal Grad PLUS Loans. Parent PLUS loans come with a 7.08% interest rate as of July 1, 2019, and a 4.236% origination fee, as of Oct. 1, 2019. 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