New Rates for Federal Education Loans for 2020-2021

In addition to looking to major state budget cuts in funding, students and families can expect lower interest rates on loans going forward. 10-Year Treasury bill auction has set the new rates for federal education loans that will be disbursed between July 1, 2020 and June 30, 2021. They are as follows:

Direct Undergraduate Loans (Subsidized and Unsubsidized)

Current rate – 4.53% → Estimated new rate – 2.75%

Direct Graduate Student Loans (Unsubsidized)

Current rate – 6.08% → Estimated new rate – 4.3%

Parent PLUS Loans and Grad PLUS Loans

Current rate – 7.08% → Estimated new rate – 5.3%

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