As of July 1, 2015, the current interest rate for Parent PLUS loans is 6.84%. PLUS loans carry a fixed interest rate for their entire term. Interest rates for fixed-rate undergraduate subsidized FFELP and FDLP Stafford loans. Plus, parent borrowers canât have an adverse credit history. For most loans, interest is paid in addition to principal repayment. PLUS loans have fixed interest rates for the life of the loan. The new interest rate is based on the last 10-year Treasury Note Auction in May. Rates on direct loans for graduates moved to 4.30% from 6.08%; Parent PLUS and grad PLUS rates dropped to 5.30%, down from 7.08% currently; Overall, U.S. student borrowers could collectively save more than $79 million a month in interest payments on their 2020-21 loans (close to $9.5 billion over the life of the loans) Federal student loan interest rates for the fall are determined by the 10-year Treasury note auction every May plus a fixed increase with a cap. Direct Unsubsidized Loans for undergraduates â ⦠The current rate for 2020-21 PLUS loans is 5.30%. The interest rate on the Federal PLUS Loan is the same for both Federal Parent PLUS Loans and Federal Grad PLUS Loans. Loan interest is usually expressed in APR, or annual percentage rate, which include both interest and fees. Graduate Stafford loans will have an interest rate of 4.3% this school year, down from around 6.1%, and grad PLUS and parent PLUS loans will be set at 5.3%, a decline from around 7.1%. Parent PLUS loans come with a 7.08% interest rate as of July 1, 2019, and a 4.236% origination fee, as of Oct. 1, 2019. Below is information regarding variable and fixed interest rates for Stafford and PLUS loans. Loan Status â Any Status; Disbursement Date: Rate: 7/1/20 - 6/30/21: 2.75%: 7/1/19 - 6/30/20: 4.53%: 7/1/18 - 6/30/19: 5.05%: 7/1/17 - 6/30/18: 4.45%: You can also create and print a loan amortization schedule to see how your monthly payment will pay-off the loan principal plus interest over the course of the loan. Given that ⦠The interest rates on Federal PLUS Loans are fixed rates that change only for new loans each July 1. Enter the interest rate for the PLUS loan. PLUS loans come with an interest rate thatâs fixed for the life of the loan, which means youâll know exactly how much youâll pay in interest in the long run. Loan Amount The original principal on a new loan or principal remaining on an existing loan. Origination fee. For example, loans disbursed on or after July 1, 2019, and before July 1, 2020, have an interest rate of 7.08%. Interest Rate The annual nominal interest rate, or stated rate of the loan. 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