Federal Direct Student Loan Interest Rates Effective July 1, 2009 through June 30, 2010

Loan Type

Status

Loans Disbursed Between July 1, 1998 and June 30, 2006*

Loans Disbursed Between July 1, 2006 and June 30,2008**

Loans Disbursed After July 1, 2009**

Subsidized Direct Loans

In-school, Grace, or Deferment

6.62%

6.80%

5.6% undergraduate

6.80%
graduate

Repayment or Forbearance

7.22%

6.80%

6.0% undergraduate

6.80%
graduate

Unsubsidized Direct Loans

In-school, Grace, or Deferment

6.62%

6.80%

 6.80 %

Repayment or Forbearance

7.22%

6.80%

 6.80%

Direct PLUS & Grad PLUS Loans

All

8.02%

7.90%

 7.90%

Federal Consolidated Loans

Interest rates on Consolidation Loans are fixed rates calculated as the weighted average of the loans being consolidated rounded up to the next higher 1/8 percent, not to exceed 8.25%.

* These loans are at a variable rate based on the 91-day Treasury bills plus 1.7% (in-school, grace, or deferment) or 2.3% (repayment or forebearance). The rate is reset every July 1st. The '07-08 rates were calculated based upon the 91-day T-bills auctioned on May 30, 2007. The 91-day T-bills were auctioned at 4.923 percent, rounded to 4.92 percent (ie. 4.92+ 1.7 = 6.62%).

** These loans are at a fixed interest rate and will not be reset every year.