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.
2022-2023 Direct Loan interest rates and fees
|Borrower Type||Loan Type||Direct Loan Fees (disbursed prior to 10/1/2022*)||Direct Loan Interest Rates (loans disbursed 7/1/22 to 6/30/23)|
|Parent or Graduate/Professional||Direct PLUS||4.228%||7.54%|
*Direct Loan Fees for loans disbursed on or after 10/1/2022 will be published once this information is available.