Federal Student Loan Interest Rates
Effective July 1, 2006
Fixed Rate FFELP Loans
The following fixed interest rates are applicable to new Stafford and PLUS loans beginning July 1, 2006.
| Stafford loans disbursed on or after 7/1/06 |
6.8% Fixed |
| PLUS loans disbursed on or after 7/1/06 |
8.5% Fixed |
Variable Rates for Stafford and Parent PLUS Loans Disbursed Prior to July 1, 2006
The following variable interest rates below are applicable to Stafford and PLUS loans disbursed prior to July 1, 2006.
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Stafford Loans
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| Affected Loans |
7/1/07 - 6/30/08 Current Rate |
Stafford loans made on or after 7/1/98 but prior to 7/1/06.
Interest rate during in-school, grace, and deferment periods. |
6.62% |
Stafford loans made on or after 7/1/98 but prior to 7/1/06.
Interest rate during repayment and forbearance periods. |
7.22% |
| Stafford loans made 7/1/95 - 6/30/98, during school, grace, and deferment periods. |
7.42% |
| Stafford loans made 7/1/95 - 6/30/98, during repayment and forbearance periods. |
8.02% |
For questions about interest rates for Stafford loans made prior to 10/1/92, please contact Customer Service at 1-866-494-GRAD(4723) |
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PLUS Loans
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| Affected Loans |
7/1/07 - 6/30/08 Current Rate |
| PLUS loans made on or after 7/1/98, but prior to 7/1/06. |
8.02% |
| PLUS loans made on or after 10/1/92 but prior to 7/1/98. |
8.05% |
| PLUS loans made on or after 7/1/87 but prior to 10/1/92. |
8.20% |
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Consolidation Loans
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Interest Rates for Consolidation Loans |
| You will receive a fixed interest rate on your consolidation loan, based on the weighted average of the interest rates of the loans you are consolidating, rounded up to the nearest 1/8th percent or 8.25%, whichever is less. |
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