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Know Your Loans

As a loan borrower, it is important to know the details of your student loans. This page contains helpful information to help students better understand the loan process.

FEDERAL STUDENT LOAN INTEREST RATES (FIXED) *SEE NOTE 1
LOAN TYPEJuly 1, 2023-June 30, 2024
New Interest Rate
July 1, 2022-June 30, 2023
Expiring Interest Rate
UNDERGRADUATE: DIRECT SUBSIDIZED & UNSUBSIDIZED5.50%4.99%
GRADUATE OR PROFESSIONAL: DIRECT UNSUBSIDIZED7.05%6.54%
PARENT AND GRADUATE OR PROFESSIONAL: DIRECT PLUS8.05%7.54%

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FEDERAL STUDENT LOAN ORIGINATION FEES *SEE NOTE 2
LOAN ORIGINATION FEESOn or after Oct. 1, 2020, and before Oct. 1, 2024On or after Oct. 1, 2019, and before Oct. 1, 2020
UNDERGRADUATE: DIRECT SUBSIDIZED & UNSUBSIDIZED1.057%1.059%
GRADUATE OR PROFESSIONAL: DIRECT UNSUBSIDIZED1.057%1.059%
PARENT AND GRADUATE OR PROFESSIONAL: DIRECT PLUS4.228%4.236%

Note 1. Interest rates change effective July 1 each year but remain fixed for the life of the loan.

Note 2. Origination fees change on October 1 each year for any non-originated loans for that year.

  • Once your Federal Loans are originated, you will be assigned a loan servicer by the Department of Education. Servicers will help you manage the repayment of your federal student loans.
  • To find out who your loan servicer is, log onto using your FSA ID and password.

  • When you go into loan repayment, it may be in your best interest to consolidate your student loans.
  • Visit the for more information about federal loan consolidation.

  • Once you graduate, leave school, or drop below half-time enrollment, you will be required to begin repayment.
  • To learn more about Loan Repayment and the various repayment plans, visit the
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