2013-14 LOAN RATES SET
August 12, 2013
On Friday, August 9th, President Obama signed into law new legislation setting the annual interest rates on federal Direct Stafford and PLUS loans. Effective July 1, 2013 for loans disbursed between July 1, 2013 and June 30, 2014 undergraduate Stafford loans now carry a fixed rate of 3.86%; graduate-level Stafford loans a fixed rate of 5.41% and PLUS loans a fixed 6.41% rate. Under the legislation, interest rates on new federal Direct Loans will be reset annually. The interest rate for that period will be tied to current Ten Year T-bill rates. The rate charged on previous loans will be fixed for the life of the loan.