Federal Direct Loan interest rates and fees

The interest rate for a loan, once established, applies for the life of the loan -- in other words, the loan is a fixed-rate loan.

  • Fees. All Federal Direct Loan programs listed below will have the Direct Loan fees listed deducted from the amount accepted prior to fund disbursement.
  • Interest rates. Each May, the Federal Loan interest rates for the following July through June period are set according to the yield of the 10-year U.S. Treasury note plus a fixed percentage. 

2021-2022 Direct Loan interest rates and fees

Direct Loan Fees and Interest Rates
Borrower Type Loan Type Direct Loan Fees (disbursed prior to 10/1/2021*) Direct Loan Interest Rates (loans disbursed 7/1/21 to 6/30/22)
Undergraduate Direct Subsidized 1.05% 3.73%
Undergraduate Direct Unsubsidized 1.05% 3.73%
Graduate Direct Unsubsidized 1.05% 5.28%
Parent or Graduate/Professional Direct PLUS 4.22% 6.28%

*Direct Loan Fees for loans disbursed on or after 10/1/2021 will be published once this information is available.