Interest Rates
The interest rates listed below are the standard federal rates mandated by Congress. ScholarPoint offers several incentive programs that can reduce the federal rate on your student loans. Please visit the main product pages on our site for each type of loan you are interested in to learn more.
| 7/1/07 - 6/30/08 |
7/1/06 - 6/30/07 |
Category |
| 6.80% |
6.80% |
Loans disbursed on or after July 1, 2006 are subject to a fixed rate of 6.80% |
| 6.62%
|
6.54% |
Loans disbursed on or after 6/30/2006 whose borrowers are (a) in-school, (b) in grace, or (c) in deferment.
Formula = Bond-equivalent rate for 91-day T-bill plus 1.7%, not to exceed 8.25 |
| 7.22%
|
7.14% |
Loans disbursed on or after 7/1/98 whose borrowers are in repayment or forbearance periods. Formula = Bond-equivalent rate for 91-day T-bill plus 2.3%, not to exceed 8.25% |
| 7.42%
|
7.34% |
Loans disbursed 7/1/95-6/30/98 whose borrowers are (a) in-school, (b) in grace, or (c) in deferment. Formula = Bond-equivalent rate for 91-day T-bill plus 2.5%, not to exceed 8.25% |
| 8.02%
|
7.94%
|
Loans
disbursed 7/1/95-6/30/98 whose borrowers are (a) in repayment or forbearance periods., (b) in
grace, or (c) in deferment. Formula = Bond-equivalent rate for 91-day
T-bill plus 3.1%, not to exceed 8.25% |
|
8.02% |
7.94%
|
All loans disbursed 7/1/94-6/30/95. Formula = Bond-equivalent rate for 91-day T-bill plus 3.1%, not to exceed 8.25%. |
|
8.02% |
7.94%
|
Loans disbursed 10/1/92-6/30/94 to new borrowers. Formula = Bond-equivalent rate for 91-day T-bill plus 3.1%, not to exceed 9%. |
|
8.02% |
7.94%
|
Loans disbursed 7/23/92-6/30/94 to borrowers with existing FFELP loans. Formula = Bond-equivalent rate for 91-day T-bill plus 3.1% (with respective caps of 7%, 8%, 9% or 10%). |
|
8.17%
|
8.09% |
Loans disbursed 7/1/88 - 9/30/92 to new borrower at 10% and past fourth year of repayment. Formula = Bond-equivalent rate for 91-day T-bill plus 3.25%, not to exceed 10%. |
|
7/1/07-6/30/08 |
7/1/06-6/30/07 |
Category |
| 8.50% |
8.50% |
FFEL Loans disbursed on or after July 1, 2006 are subject to a fixed rate of 8.50%. |
| 7.94% |
7.94% |
Direct Loans disbursed on or after July 1, 2006 are subject to a fixed rate of 7.94%. |
|
8.02%
|
7.94%
|
Loans disbursed on or after 7/1/98. Formula = Bond-equivalent rate for 91-day T-bill plus 3.1%, not to exceed 9%. |
| TBD |
8.34% |
Loans disbursed 7/1/94 - 6/30/98. Formula = formula below* plus 3.1%, not to exceed 9%. |
| TBD |
8.34% |
Loans disbursed 10/1/92-6/30/94. Formula = formula below* plus 3.1%, not to exceed 10% |
| TBD |
8.49% |
Loans disbursed 7/1/87 - 09/30/92. Formula = formula below* plus 3.25%, not to exceed 12% |
| 12% |
12% |
Loans disbursed 11/1/82 – 6/30/87 |
| 14% |
14% |
Loans disbursed 10/1/81 – 10/31/82 |
| 9% |
9% |
Loans disbursed 1/1/81 – 9/30/81 |
| |
* Variable interest rate adjusted annually on July 1—equal to the weekly average one-year constant maturity Treasury yield * for the last calendar week ending on or before June 26 preceding July 1 of each year plus 3.25%, not to exceed 12%.
|
** The "weekly average one-year constant maturity Treasury yield" index is effective beginning with the interest rate calculation for July 1, 2001. Prior to that date, the index was based on the 52-week Treasury bill auctioned at the final auction held prior to the preceding June 1.
|
| *** Loans prior to 10/1/1992 may include SLS loans. |
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