Quick answer
For federal Direct Loans first disbursed between July 1, 2020 and June 30, 2021, the fixed interest rate is 2.75% for undergraduate subsidized and unsubsidized loans, 4.30% for graduate unsubsidized loans and 5.30% for PLUS loans. That compares with 4.53% for undergraduates the prior year.
Data as of 2026-09-10. Source: U.S. Dept. of Education, Federal Register notice 2026-18493
| Award year (Jul 1–Jun 30) | Undergraduate (sub/unsub) | Graduate unsubsidized | PLUS (parent/grad) |
|---|---|---|---|
| 2020-21 | 2.75% | 4.30% | 5.30% |
| 2026-27 | 6.52% | 8.07% | 9.07% |
| 2025-26 | 6.39% | 7.94% | 8.94% |
| 2024-25 | 6.53% | 8.08% | 9.08% |
| 2023-24 | 5.50% | 7.05% | 8.05% |
| 2022-23 | 4.99% | 6.54% | 7.54% |
Related
- Federal student loan interest rates for 2017-18
- Federal student loan interest rates for 2018-19
- Federal student loan interest rates for 2019-20
- Federal student loan interest rates for 2021-22
- Federal student loan interest rates for 2022-23
- Federal student loan interest rates for 2023-24
- Federal student loan interest rates for 2024-25
- Federal student loan interest rates for 2025-26
Last updated 2026-10-16. Data only, not financial or tax advice.