2020 - 2021 FFELP Interest Rates


Stafford Loans

Note: 91-Day T-Bill = 0.13%

Qualifying Conditions Factor Cap 19-20 Rate 20-21 Rate
Undergraduate Subsidized Fixed Rate loans first disbursed 7/1/09 - 6/30/10, all statuses n/a 5.60% 5.60% 5.60%
Undergraduate Subsidized Fixed Rate loans first disbursed 7/1/08 - 6/30/09, all statuses n/a 6.00% 6.00% 6.00%
All Fixed Rate Stafford loans first disbursed on/after 7/1/06 (except Undergraduate Subsidized disbursed 7/1/08 - 6/30/12), all statuses n/a 6.80% 6.80% 6.80%
A variable rate loan first disbursed 7/1/98 - 7/1/06. Borrower in repayment or forbearance status. 2.30% 8.25% 4.66% 2.43%
A variable rate loan first disbursed 7/1/98 - 7/1/06. Borrower in in-school, grace or deferment status. 1.70% 8.25% 4.06% 1.83%
A variable rate loan first disbursed 7/1/95 - 6/30/98. Borrower in repayment or forbearance status. 3.10% 8.25% 5.46% 3.23%
A variable rate loan first disbursed 7/1/95 - 6/30/98. Borrower in in-school, grace or deferment status. 2.50% 8.25% 4.86% 2.63%
A variable rate loan first disbursed 7/1/94 - 6/30/95. Loan period includes 7/1/94 or begins on/after 7/1/94. 3.10% 8.25% 5.46% 3.23%
A variable rate loan first disbursed on/after 10/1/92 but prior to 7/1/94. Borrower had no outstanding balance on FFELP loan when MPN signed. 3.10% 9.00% 5.46% 3.23%
A 8/10% loan made on/after 7/23/92 to a borrower with an outstanding FFELP loan in repayment 49 months or more and entitled to a variable interest rate. 3.10% 10.00% 5.46% 3.23%
A 8/10% loan made on/after 7/23/92 to a borrower with an outstanding FFELP loan in repayment 48 months or less and entitled to a variable interest rate. 3.10% 8.00% 5.46% 3.23%
A 8/10% loan made on/after 7/23/92 to a borrower (with no prior loans) in repayment 49 months or more and entitled to a variable interest rate. 3.25% 10.00% 5.61% 3.38%
A 8/10% loan made on/after 7/23/92 to a borrower (with no prior loans) in repayment 48 months or less so not yet eligible for a variable interest rate. N/A 8.00% 8.00% 8.00%
A 8/10% loan made before 7/23/92 to a borrower in repayment 49 months or more and entitled to variable interest rate. 3.25% 10.00% 5.61% 3.38%
A 8/10% loan made before 7/23/92 a borrower in repayment 48 months or less so not yet eligible for a variable interest rate. N/A 8.00% 8.00% 8.00%
Originally a 9% fixed rate loan made on/after 7/23/92; now entitled to a variable interest rate. 3.10% 9.00% 5.46% 3.23%
Originally a 8% fixed rate loan made on/after 7/23/92; now entitled to a variable interest rate. 3.10% 8.00% 5.46% 3.23%
Originally a 7% fixed rate loan made on/after 7/23/92; now entitled to a variable interest rate. 3.10% 7.00% 5.46% 3.23%

Note: 7%, 8% & 9% fixed rate loans made before 7/23/92 are not qualified for a variable interest rate & therefore remain at the fixed rate.



Consolidation Loans

91-Day T-Bill = 0.13%

Qualifying Conditions Index+ Cap 19 - 20 Rate 20 - 21 Rate
A variable rate loan disbursed 11/17/97 - 9/30/98 3.10% 8.25% 5.46% 3.23%


Plus & SLS Loans Prior to 7/1/98

91-Day T-Bill = 0.13% and 1 Year Constant Maturity Yield = 0.17%

Qualifying Conditions Index+ Cap 19 - 20 Rate 20 - 21 Rate
PLUS & SLS Made prior to 10/01/92 3.25% 12.00% 5.23% 3.42%
SLS Made on or after 10/1/92 but prior to 7/1/94 3.10% 11.00% 5.08% 3.27%
PLUS Made on or after 10/1/92 but prior to 7/1/94 3.10% 10.00% 5.08% 3.27%
PLUS Made on or after 7/1/94 but prior to 7/1/98 3.10% 9.00% 5.08% 3.27%


PLUS LOANS - Parent and Graduate / Professional

91 -Day T-Bill = 0.13% and 1 Year Constant Maturity Yield = 1.98%

Qualifying Conditions Index+ Cap 19 - 20 Rate 20 - 21 Rate
Fixed rate PLUS loan first disbursed on/after 7/1/06 n/a 8.50% 8.50% 8.50%
Variable rate PLUS first disbursed 7/1/98 - 6/30/06 3.10% 9.00% 5.46% 3.23%

Note: Generally, interest rates on Consolidation loans are fixed rates calculated based on the weighted average of the loans being consolidated rounded up to the next higher 1/8 percent, not to exceed 8.25 percent.