Federal Student Loan Interest Rates Decrease for 2019-2020
For the first time in three years, interest rates on federal student loans will decrease for the 2019-2020 academic year. The lower rates apply to new federal student loans made on or after July 1, 2019, through June 30, 2020. The interest rate is f
Direct Stafford Loans: Undergraduates
(Subsidized)
|
4.53%
|
5.05%
|
Undergraduate students only
Subsidized loans are based on financial need as determined by the federal aid application (FAFSA)
|
For dependent undergraduates:
1st year: $5,500 (max $3,500 subsidized)
2nd year: $6,500 (max $4,500 subsidized)
3rd, 4th, 5th year: $7,500 (max $5,500 subsidized)
Max: $31,000 (max $23,000 subsidized)
|
Direct Stafford Loans: Undergraduates
(Unsubsidized)
|
4.53%
|
5.05%
|
Undergraduate students only; all students are eligible regardless of financial need
|
For dependent undergraduates:
1st year: $5,500 (max $3,500 subsidized)
2nd year: $6,500 (max $4,500 subsidized)
3rd, 4th, 5th year: $7,500 (max $5,500 subsidized)
Max: $31,000 (max $23,000 subsidized)
|
Direct Stafford Loans: Graduate or Professional Students
|
6.08%
|
6.6%
|
Graduate or professional students only; all students are eligible regardless of financial need
Unsubsidized loans only
|
$20,500 per year; max $138,500
|
Direct PLUS Loans:
Parents and Graduate or Professional Students
|
7.08%
|
7.6%
|
Parents of dependent undergraduate students and graduate or professional students
Unsubsidized loans only
|
Total cost of education, minus any other aid received by student or parent
|
Posted: to Wealth Management News on Tue, Jul 2, 2019
Updated: Tue, Jul 2, 2019