2022 - 2023 and 2023 - 2024 Interest Rates on Direct Loans
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- Video: Intro What Happens After Submitting Your FAFSA® Form?
- Availability of the Revised Pay As You Earn (REPAYE) Repayment Plan
| Loan type | Interest rate on loans taken out between July 1, 2022 and June 30, 2023 | New rate on loans taken out between July 1, 2023 and June 30, 2024 |
|---|---|---|
| Direct Subsidized and Unsubsidized Loans (for undergraduate students) | 4.99% | 5.50% |
| Direct Unsubsidized Loans (for graduate/professional students) | 6.54% | 7.05% |
| Direct PLUS Loans (for parents and graduate/professional students) | 7.54% | 8.05% |
| Loan type | Interest rate on loans taken out between July 1, 2021 and June 30, 2022 | New rate on loans taken out between July 1, 2023 and June 30, 2024 |
|---|---|---|
| Direct Subsidized and Unsubsidized Loans (for undergraduate students) | 4.535% | 5.50% |
| Direct Unsubsidized Loans (for graduate/professional students) | 6.08% | 7.05% |
| Direct PLUS Loans (for parents and graduate/professional students) | 7.08% | 8.05% |