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Interest Rates
 
Interest Rates for Variable Rate Stafford Loans (2005/2006 & 2004/2005)
7/1/05-6/30/06 7/1/04-6/30/05 Category
4.70% 2.77%

Loans disbursed on or after 7/1/98 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

5.30%

3.37% Loans disbursed on or after 7/1/98 whose borrowers are in repayment (except periods of deferment). Formula = Bond-equivalent rate for 91-day T-bill plus 2.3%, not to exceed 8.25%
5.50% 3.57% 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%
6.10% 4.17% 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%
6.10% 4.17% 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%.
6.10% 4.17% 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%.
6.10% 4.17% 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%).
6.25% 4.32% 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%.
Interest Rates for Variable Rate PLUS Loans (2005/2006 & 2004/2005)
7/1/05-6/30/06 7/1/04-6/30/05 Category
6.10% 4.17% 

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 5.26%  Loans disbursed 7/1/94 - 6/30/98. Formula = formula below* plus 3.1%, not to exceed 9%.
TBD 5.26% Loans disbursed 10/1/92-6/30/94. Formula = formula below* plus 3.1%, not to exceed 10%
TBD 5.41% 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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