Calculators and interest rates
Please read the description of each plan and the instructions for each data entry page carefully.
∂ Budget calculator Determine expenses and income in order to create a budget for college.
Current interest rates The interest rate for new subsidized and unsubsidized loans first disbursed on or after July 1, 2006, is a fixed 6.80%, with the exceptions for subsidized undergraduate loans noted in the table below. The interest rate for PLUS loans first disbursed on or after July 1, 2006, is a fixed 7.90%. For Direct consolidation loan interest rates, see that rate page for information.
| Date of First Disbursement | Interest Rate for Subsidized Undergraduate Loan |
|---|---|
| 7/1/08–6/30/09 | 6.00% |
| 7/1/09–6/30/10 | 5.60% |
| 7/1/10–6/30/11 | 4.50% |
| 7/1/11–6/30/12 | 3.40% |
| On or after 7/1/12 | 6.80% |
For subsidized and unsubsidized loans first disbursed between July 1, 1998, and June 30, 2006, the interest rate for the period July 1, 2011, through June 30, 2012, is 2.36% for loans in repayment and 1.76% during in-school, grace, and deferment periods. Similarly, for PLUS loans disbursed between July 1, 1998, and June 30, 2006, the interest rate is now 3.16%.
Description of repayment plans There are several repayment plans: standard, extended, graduated, and income contingent. How much you pay and how long you take to repay your loans will vary depending on the repayment plan you choose. Consolidation loans also have varying repayment plans. Use the links below to determine your repayment amounts under each of the different plans.
∂ Standard, extended, and graduated repayment plan calculator
∂ Income contingent repayment plan calculator
∂ Income-based repayment plan calculator
∂ Direct consolidation loan calculator