Quick answer
For federal Direct Loans first disbursed between July 1, 2023 and June 30, 2024, the fixed interest rate is 5.50% for undergraduate subsidized and unsubsidized loans, 7.05% for graduate unsubsidized loans and 8.05% for PLUS loans. That compares with 4.99% 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) |
|---|---|---|---|
| 2023-24 | 5.50% | 7.05% | 8.05% |
| 2026-27 | 6.52% | 8.07% | 9.07% |
| 2025-26 | 6.39% | 7.94% | 8.94% |
| 2024-25 | 6.53% | 8.08% | 9.08% |
| 2022-23 | 4.99% | 6.54% | 7.54% |
| 2021-22 | 3.73% | 5.28% | 6.28% |
Related
- Federal student loan interest rates for 2020-21
- Federal student loan interest rates for 2021-22
- Federal student loan interest rates for 2022-23
- Federal student loan interest rates for 2024-25
- Federal student loan interest rates for 2025-26
- Federal student loan interest rates for 2026-27
- Federal student loan interest rate history (2013–present)
Last updated 2026-10-16. Data only, not financial or tax advice.