PLUS loans come with an interest rate that’s fixed for the life of the loan, which means you’ll know exactly how much you’ll pay in interest in the long run. Direct PLUS Parent Loans disbursed on or after July 1, 2017, and before July 1, 2018 have a fixed interest rate … Federal Direct Loan Interest Rates 2019-20. The interest rates will be fixed for the life of the loan. 4. Direct PLUS Loans have a fixed interest rate of 7.9 percent and FFEL loans have an interest rate of 8.5 percent. The rate is fixed 7.9% for loans made on or after July 1, 2006. On May 12, 2020, the Treasury Department held a 10-year Treasury note auction that resulted in a high yield of 0.700%. The interest rates will be fixed for the life of the loan. Direct Parent PLUS Loan Limits. Parent PLUS loan interest rates from recent years range from 6.31% to 7.9%, depending on the year in which you borrowed. Interest Rates & Fees. PLUS Loan (Parent, and Graduate/Professional students): 7.08% Interest rates are established each year. The new interest rate is … You may borrow up to the total of the Estimated Cost of Attendance minus resources and other financial aid. The interest rate for PLUS loans disbursed on or after July 1, 2020 is 5.30%. Interest rates for Federal PLUS and Perkins Loans Federal Direct Student Loan Interest Rates and Origination Fees Interest Rates for Federal Direct Student Loans First disbursed on or after July 1, 2020 and prior to July 1, 2021 Loan Origination Fees for Federal Direct Student Loans . Federal Direct Grad PLUS Loan. PLUS Loans with a first disbursement date on or after July 1, 2019 and before July 1, 2020 will have an interest rate of 7.08%. For the most up to date information please visit studentloans.gov. Loan Fees. There is some evidence that FFEL PLUS Loans are harder to qualify for than Direct PLUS Loans. Direct PLUS Loan Payment Calculator. The chart below shows the interest rates for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans first disbursed on or after July 1, 2020 and before July 1, 2021. The student may borrow an amount up to the cost of attendance less any financial assistance. Interest is charged on the Grad PLUS loan from the date the first disbursement is made until the loan is paid in full. +-Fees Fees are deducted from the loan funds and are included in the amount a parent will pay back. After that, Congress set rates to the high-yield 10-year Treasury note plus 4.6%. Direct Loan Program's Interest Rates from July 1, 2001 to June 30, 2002: Federal Direct PLUS Consolidation Loans: Date the loan was first disbursed between: Status: Treasury Instrument: Add-on: Interest Rate for 7/1/2001 to 6/30/2002: Maximum Interest Rate: 7/1/1995 and 6/30/1998: All Periods: 1-year constant maturity Treasury yield . Student loan interest rates are set for the following year based on the May 10-year treasury auction, plus an add-on interest rate. The changes that affected unsubsidized loans also impacted Direct PLUS Loans. The interest rates for federal student loans are determined by federal law. Interest Rates for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans First disbursed on or after July 1, 2018 and before July 1, 2019 Loan Type 10-Year Treasury Note High Yield Add-On Fixed Interest Rate Direct Subsidized Loans and Direct Unsubsidized Loans for Undergraduate Students 2.995% 2.05% 5.05% Direct PLUS Loans for Parents of Dependent … Current Federal Student Loan Interest Rates. You can review the Parent PLUS interest rate at studentaid.gov. For example, if you took an undergraduate loan last year for $7,500 with a 4.53% interest rate, and a standard 10-year repayment plan, you will be paying around $1,840 worth of interest. Another difference is that the FFEL PLUS Loan gives you a choice of lenders, while the Direct PLUS Loan does not. A parent may borrow up to the cost of attendance (established by the school) minus other financial aid including other student loans. There is also an origination fee of 4.228%, which is deducted from each loan disbursement. Direct PLUS loans – 5.3%; Compared to last year, students will be paying 1.78% less on interest, which could save you hundreds to thousands of dollars over the life of the loan. PLUS Repayment . The Federal Direct Parent PLUS Loan is a fixed-rate loan with a 5.3% interest rate effective July 1, 2020. The Catholic University of America participates in the William D. Ford Federal Direct Graduate PLUS Loan Program (Direct PLUS). This loan may be better than alternative/private loans which have variable interest rates. 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