What is the current rate of interest on Stafford loans?
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3.734%
The interest rate on Federal Direct Stafford loans for undergraduate students for 2021-22 will be 3.734%, up from the 2.75% rate for 2020-21, which was a record low. The interest rate on Federal Direct Stafford loans for graduate students for 2021-22 will be 5.284%, up from 4.3% in 2020-21.
What is a current student loan interest rate in 2021?
3.73%
If you are still borrowing for your education, the federal student loan interest rate for undergraduates is 3.73% for the 2021-22 school year. Federal rates for unsubsidized graduate student loans and parent loans are higher — 5.28% and 6.28%, respectively. The rates for the coming year go into effect on July 1.
Does Direct Stafford loan have interest?
The interest rate for Direct Stafford Loans varies depending on whether you choose an unsubsidized loan or a subsidized loan. Direct unsubsidized student loans have an interest rate of 4.45% for undergraduates and 6% for graduate students on loans that were disbursed after July 1, 2017, and before July 1, 2018.
Are Stafford loans direct loans?
Federal Stafford loans are often called Direct loans. Both terms refer to the same loans offered through the William D. Ford Federal Direct Loan (Direct Loan) Program.
What is the current interest rate on direct subsidized and direct unsubsidized loans?
The current interest rates (first disbursed on or after July 1, 2021, and before July 1, 2022) for Direct Subsidized and Direct Unsubsidized Loans are 3.73% (Undergraduate Student) and 5.28% (Graduate or Professional Student). The interest rates are fixed for the life of the loan.
Are student loan rates going down?
The 10-year Treasury rate saw record lows in 2020, and, as a result, federal student loan rates beginning July 1, 2021, are some of the lowest in history. There is an origination fee of 1.057% for federal Direct Subsidized Loans and Direct Unsubsidized Loans, in addition to 4.228% for Parent PLUS Loans.
Will student loan rates go up in 2022?
The Federal Reserve’s interest rate hike on Wednesday and its plan to lift the rate several more times in 2022 will make borrowing more expensive for certain consumers. Some people who currently hold student loans and others planning to soon borrow for their education will be among those impacted.